Gide advises CDC Habitat on acquiring in consortium 80% of Foncière Vesta
15 October 2018
Deals | France | Real Estate Transactions & Financing
Ampère Gestion, a subsidiary of CDC Habitat, and Swiss Life Asset Managers, Real Estate France, acting on behalf of five institutional investors, have announced an agreement to acquire 80% of Foncière Vesta from ICF Novedis, an SNCF subsidiary. Foncière Vesta owns a portfolio of 4,000 housing units that give priority to SNCF employees.
This is the most significant operation in 2018 in terms of volume on the residential segment of the property asset class.
The closing of the transaction is subject to approval by the European Commission. Rental management services will continue to be provided by ICF Novedis, which will also keep a stake of 20% in Foncière Vesta.
Ampère Gestion and the institutional investors led by CDC Habitat were advised by a multi-disciplinary team from Gide, comprising:
Stéphane Puel, partner, and Clothilde Beau on regulatory aspects and setting up a professional real estate collective investment undertaking (OPPCI);
Hugues Moreau, partner, and Sophie Gillard on transaction and real estate aspects;
Thomas Urlacher, partner, and Armelle Royer on corporate aspects and joint venture agreements;
Emmanuel Reille, partner, and Margaux Glinkowski on merger control aspects;