La Française REM has announced that it is launching a property debt platform, as first tipped by PropertyEU in February.
La Française REM has announced that it is launching a property debt platform, as first tipped by PropertyEU in February.
In a statement, the French investment manager said that it initially plans to raise EUR 600 mln from institutional investors representing local and foreign insurance groups. Initially, the equity will be invested exclusively in senior debt backed by French real estate with a core/core plus profile. The target spread is 250 basis points, it added.
The platform will be led by Bertrand Carrez, director of structured finance, who was hired three months ago as part of the company's push into property lending. He is joined by four other colleagues.
PropertyEU reported in February that La Française REM had hired Carrez to lead its foray into property debt. Carrez, who joined on March 1, was previously a senior partner at investment bank Athema Corporate Finance where he developed a real estate debt advisory platform. Before that, he led Natixis' Real Estate Finance Europe arm.
La Française REM is majority-owned by Crédit Mutuel Nord Europe.
