French listed property firm Eurosic has acquired 250 residential units from GGF, a subsidiary of energy group EDF.
French listed property firm Eurosic has acquired 250 residential units from GGF, a subsidiary of energy group EDF.
The €50 mln acquisition was financed with cash and a seven-year bank facility granted by Natixis.
'This transaction allows Eurosic to strengthen its resilient residential portfolio and an extension of the partnership with EDF Group initiated last December,' said Eurosic CEO Adrian White.
Eurosic is a real estate investment company with a portfolio valued at €1.4 bn. It bought a similar package in December last year also from EDF for €120 mln. The portfolio comprises 600 apartments largely located in the Ile-de-France region. The purchase was funded with a €68 mln loan provided by Natixis.
