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TwentyTwo RE launches residential private REIT

30 January 18 - RE+D Magazine
TwentyTwo RE launches residential private REIT

COMPANIES

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
TwentyTwo Real Estate and its subsidiary Scaprim are launching Powerhouse Habitat, a residential private REIT backed by institutional investors BNP Paribas Cardif and Société Générale Insurance.

 

TwentyTwo Real Estate, an independent firm dedicated to real estate investment in Europe, announces the launch of Powerhouse Habitat, a residential private REIT, backed by institutional investors BNP Paribas Cardif, Société Générale Insurance and OPCI BNP Paribas Diversipierre.

Powerhouse Habitat’s portfolio consists of approximately 6,700 single-family units worth more than €1 billion, located throughout France and mainly leased to EDF.

According to TwentyTwo’s press release Powerhouse Habitat has the ambition to become a major and structurally important player in the French residential market through further acquisitions of affordable rental housing units in the private sector.

These will be located mainly in French regions with strong economic and demographic fundamentals.

To fulfill this ambition, Powerhouse Habitat aims to triple the size of its property portfolio over the next three years to reach €3 billion.

The portfolio was purchased by Powerhouse Habitat from Massena Partners and Farallon Capital Management.

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