AEW has stated it advised CNP Assurances in landing an 85% stake in a giant portfolio of more than 7,600 residential assets from CDC Habitat, a subsidiary of Caisse des Dépôts.
Last week, CNP Assurances emerged as the winner of a competitive auction involving around 30 other eager French and foreign investors all vying for the €2.4bn portfolio via a holding in company, Lamartine.
The majority of the assets are housing units let at affordable rents, in line with CNP Assurances’ commitment to responsible investment.
In a brief announcement, AEW said it had advised the winner and flagged it will surely remain one of the largest property deals the country will see this year.
Cédric Dit Wallabregue, director at AEW, said: ‘AEW is proud to have provided its real estate investment expertise to CNP Assurances for what will undoubtedly remain one of the largest transactions in the French market in 2022.’
Raphaël Brault, MD of AEW in France, added: ‘The investment markets are returning to their pre-pandemic momentum, with residential asset classes being a key driver of that trend, underpinned by both the resilience of the long-term visible income they offer and, in many cases, their ESG credentials. This landmark transaction further demonstrates investors’ interest in this growing sector, and we are delighted to have been able to advise CNP Assurances.’
CNP was also advised by Clifford Chance and KPMG, Mazars, Wargny Katz, and Arcadis.
The remaining 15% stake in the holding is being retained by CDC Habitat, which was advised by Bryan Cave Leighton Paisner.
Clifford Chance's legal team consisted of François Bonteil, David Gérard, and Xavier Vaury.
