La Française Real Estate Partners has acquired a student residence development in Paris on behalf of a French institutional investor.
La Française Real Estate Partners has acquired a student residence development in Paris on behalf of a French institutional investor.
The property on Boulevard Davout is being converted from a 1990s office building and will comprise 282 student rooms as well as 800 m2 of retail space.
The vendor was Demathieu Bard Immobilier, Réside Etudes and Coffim, the project developers. Financial details were not disclosed.
Réside Etudes Gestion will manage the student residence, which is due to be delivered for the start of the 2017 academic year.
Patrice Genre, chairman of La Française, said: ‘We strongly believe in investing in managed residences, for both students and seniors, as they respond to fundamental demographic trends in our western societies and offer an attractive alternative to investing in traditional housing.’
La Française received legal advice from SCP Leroy Reberat Brandon, while Thibierge acted for the vendor.
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INVESTMENT BRIEFING
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Want to hear more about the latest developments in European student housing real estate? Aleksandar Obradovic, chief investment officer at student accommodation specialist Deutsche Real Estate Funds Advisor, is one of the panellists at PropertyEU´s first European Residential & Student Housing Investment Briefing of 2016.
The event takes place at the offices of law firm Paul Hastings at 10 Bishops Square in London from 8/10.30am on Wednesday 17 February.
Seating is complimentary but limited, so please CLICK HERE TO REGISTER
