French asset manager Scor has announced the final closing of its latest fund, Scor Real Estate Loans IV fund, having raised €629 mln in commitments from a number of French institutions.
Like its predecessors, the fund’s investment strategy follows a value-add risk profile, with an emphasis on projects that aspire to the highest energy, environmental and well-being standards for their occupants.
Classified as Article 8 SFDR, the Scor Real Estate Loans IV fund is a French mutual securitization fund (FCT) investing in first-lien mortgage loans, primarily on the French market. The fund focuses on assets benefiting from one or more environmental labels (immediately or on completion of the construction or renovation work).
The investment team has already invested 50% of the capital raised across 10 projects.
‘We are proud of this new commercial success which confirms our position as a key player in real estate debt,’ said François de Varenne, Chief Executive Officer of Scor Investment Partners. ‘We have built our real estate financing activity on our longstanding experience of the market, on robust investment discipline, and on the conviction that investing in the “value-add” market segment is the best way to meet our investors’ needs in terms of returns and capital preservation, while actively participating in financing the energy transition. By financing the buildings of tomorrow, which use less energy as well as being more environmentally friendly and adapted to new uses, we are creating value for our investors. Together, we finance the sustainable development of our societies.’
