Fairway advised AG2R la mondiale, In’li and BNP Paribas REIM (the latter also represented by Baker&McKenzie) in the creation of the real estate company RésiCoffim. This real estate company will invest in quality, sustainable housing near transportation and employment areas. Asset and fund management will be provided by Coffim AM Rési, a subsidiary of the Coffim Group, which is launching a new asset management activity.
Initially, AG2R La Mondiale, In’li and BNP Paribas REIM intend to invest €120 million of their own funds in the Île-de-France region, in new residential assets with “high environmental performance” and a “high proportion of intermediate housing”. “The aim is to promote access to housing for the middle classes and young professionals by contributing to the development of a quality and affordable offer, located in dynamic and well-serviced areas where the need is great”, the press release states..
RésiCoffim aims to acquire a portion of the programs developed by Coffim, a national real estate development group, in the the Île-de-France region. A first asset has already been reserved and the real estate company is aiming for a strong development in 2023.