La Française collective real estate investment vehicle acquires its first Micro-living asset in Germany

A La Française collective real estate investment vehicle, represented by La Française Real Estate Managers, has acquired its first Micro-Living building, operated by Hood House, from the developer SICON Hospitality GmbH.

The property is located at Am Poßmoorweg 6, in a sought-after residential area of Hamburg, and offers state-of-the-art serviced living space. It is situated in the established and renowned submarket of Winterhude.

The re-development project of a former office building into a modern, serviced, six-storey living space commenced in 2019 and was recently completed in June 2021. The interior was fully refurbished, and the façade was partially renewed by the owner. It offers 5,301 m2 of floor space and a total of 148 apartments (18 – 43 m2 per room) for short and long-term stays of up to 6 months, as well as a restaurant area on the ground floor. The basement level, comprised primarily of technical and storage space, offers a total of 17 parking spaces. Furthermore, in order to reduce energy use and associated costs, the building has a rooftop solar water heating system.

The Micro-Living building is fully let to the operator, Hood House GmbH, a subsidiary of Sicon GmbH, who operates similar properties throughout Hamburg.

Mark Wolter, Managing Director of La Française Real Estate Managers - Germany said, “We are delighted to secure our first micro-living asset in Germany. This acquisition is perfectly in line with our strategy to diversify our German real estate portfolio with assets that perform well relative to Environmental, Social & Governance criteria. Furthermore, the asset offers a solution to changing consumer-user behavior, as communal living space becomes more sought after. We are confident in the long-term attractiveness of the property itself, as well as the asset class”.

La Française Real Estate Managers was advised by Norton Rose Fulbright on legal aspects and by Witte Projektmanagement GmbH on technical Due Diligence and project monitoring. Savills Immobilien Beratungs GmbH and Pankow Consulting GmbH advised the vendor.

About La Française

Environmental and societal challenges are opportunities to reconsider the future. Identifying drivers of change and understanding how they will fashion global growth and ultimately influence long-term financial performance is at the heart of La Française’s mission. The group’s forward-looking investment strategy is built upon this conviction.

Organized around two business lines, financial and real estate assets, La Française has developed a multi-boutique model to serve institutional and retail clients in France and abroad.

La Française, aware of the importance of the extensive transformations occurring in our increasingly digital and connected world, has created an innovation platform which brings together the new activities identified as key businesses of tomorrow.

La Française has 56 billion euros in assets under management as at 30/06/2021 and has operations in Paris, Frankfurt, Hamburg, London, Luxembourg, Madrid, Milan, Hong Kong and Seoul.

La Française is a subsidiary of Caisse Fédérale de Crédit Mutuel Nord Europe (CMNE). Groupe Crédit Mutuel has A, negative outlook/A-1 S&P long and short-term ratings (April 2020).

Contacts La Française

La Française:

Pascale Cheynet +33 1 43 12 64 25 | pcheynet@la-francaise.com

Debbie Marty: +33 1 44 56 42 24 | debmarty@la-francaise.com

Disclaimer:

Promotional document. THIS DOCUMENT IS INTENDED FOR NON-PROFESSIONAL INVESTORS AS DEFINED BY MIFID II. The information and material provided herein does not in any case represent advice, an offer, a solicitation, or a recommendation to invest in specific investments.

Issued by La Française AM Finance Services, home office 128 boulevard Raspail, 75006 Paris, France, regulated by the “Autorité de Contrôle Prudentiel et de Résolution” as investment services provider under the number 18673 X, affiliate of La Française. Internet information for the regulatory authorities Autorité de Contrôle Prudentiel et de Résolution www.acpr.banque-france.fr, Autorité des Marchés Financiers www.amf-france.org, Financial Conduct Authority (FCA) www.fca.org.uk, Bundesanstalt für Finanzdienstleistungsaufsicht www.bafin.de

La Française Real Estate Managers, approved by the “Autorité des Marchés Financiers” under N GP07000038 on June 26th 2007, approval (i.e. the Carte professionnelle) granted by the Paris Ile-de-France “Chambre du Commerce & de l’Industrie” under CPI N 7501 2016000 006 443 – Transactions on Buildings and Business Assets and Real Estate Management and AIFM authorisation under Directive 2011/61/EU on June 24, 2014.

La Française Group UK Ltd – Registered in England No: 4253400. La Française Group UK Finance Ltd – Registered in England 4717154, authorized and regulated by the Financial Conduct Authority (FCA number: 225360) - Registered office: 78 Brook Street, London, W1K 5EF. These businesses are individually and collectively trading as ‘La Française Real Estate Managers’; La Française Real Estate Managers Germany Deutsche Zweigniederlassung der La Française Group UK Ltd - Registered in Germany No: HRB 79216 is subject to limited regulation by the Bundesanstalt für Finanzdienstleistungsaufsicht - Registered office: Neue Mainzer Str. 80, 60311 Frankfurt am Main.