Closed-ended fund (Club deal)

SCI MARSEILLE CITY

 
Marseille

SCI MARSEILLE CITY

Creation of an institutional fund offering investors exposure to residential real estate in France.

In 2017, Praemia France took part in one of the largest block sales in several years with the acquisition through this primarily residential portfolio of nearly 1,300 housing units.

This ambitious project aims to revitalise the Rue de la République in Marseille and is based on:

  • a strong conviction: complete repositioning of these mixed assets composed of housing units, shops and offices, by creating a diversified offering in keeping with users’ and the public’s expectations (families, students, wage-earners and tourists)
  • the rollout of a strategy by asset type: rethinking of the business plan to turn towards local shops and new urban concepts over time
  • a five-year renovation plan to bring apartments back up to standard
  • discussions with elected representatives on the introduction of a cleanliness and security plan

 

Pays de commercialisation :
France
Nature des investissements :
Residential - France
Type :
Closed-ended fund (Club deal)
Localisation :
Marseille, France
Surface :
126,695 sq. m
Date d'acquisition :
2017
Montant total de l'acquisition :
€400m
Portefeuille :
143 housing, shop and office assets
Rendement :
approx. 3%