AXA Investment Managers - Real Assets has acquired a 49% stake in French timber real estate developer REI Habitat for an undisclosed amount.
AXA IM - Real Assets, investing on behalf of one of its clients, has formed the partnership to help REI Habitat progress with its plans to develop more than 400,000sqm of housing and offices in timber structures over the next 7 years in France.
Isabelle Scemama, CEO of AXA IM Real - Assets said: “This partnership with REI Habitat reflects our commitment to increasing the levels of wood used in property development.
“Our approach and objectives are fully aligned with those of REI Habitat, particularly in terms of responsible forest management, its protection and the preservation of biodiversity.”
Paul Jarquin, founder and CEO of REI Habitat said: “The main objective of this partnership is to create a “made in France” major.
”It will accelerate the use of local wood in real estate development and support the structuring of the French forestry and timber industry. It is an opportunity to build a real social project around forests.”
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