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Ampère Gestion raises €650M for French housing venture

Portfolio management company Ampère Gestion and Swiss Life Asset Managers, Real Estate France, closed on €650 million in funding for French housing venture Fonciere Vesta, completing a deal covering a 128-building, 4,000-unit portfolio in the process.

The funding comprises €360 million in mortgage debt and €290 million in unsecured lending, with an average maturity profile of more than 12 years.

Natixis and Crédit Foncier de France served as joint arrangers for the funding, which involves 17 banks, including 12 Groupe BPCE banks.

Paul Hastings offered legal advice to Foncière Vesta, while Prud'homme & Baum, KL Associés and Les Notaires du Trocadéro provided notarial services. Archers served as legal adviser to the banking pool, with notarial services provided by Wargny Katz.

Caisse d'Epargne Ile-de-France is the agent for the financing package.