LaSalle completes acquisition of senior living assets in Paris

PARIS (April 12, 2022) — LaSalle Investment Management (“LaSalle”) has completed the acquisition of two fully pre-let senior living properties, les Villa Beausoleil, located in Greater Paris, on behalf of a German separate account client. The transaction consists of a sale & leaseback with Steva, a French family-owned firm founded in 1967, which has recently been awarded Best French Company for Senior Living in 2022.

Located in Meudon-la-Forêt within the affluent department of Hauts-de-Seine, the first Villa Beausoleil asset is a brand-new senior living property which will be completed at acquisition. It will offer 116 senior housing flats, alongside various amenities including a concierge, a restaurant, a lounge, a Senior Fitness Centre and a garden with exclusive access to residents on a total area of 6,036 m2. The property is within the “Eco-neighbourhood” of Pointe de Trivaux, an urban regeneration zone currently under development, and benefits from close access to the Forêt Domaniale of Meudon (National Forest). More broadly, the department makes up a large proportion of Greater Paris with 1.6 million residents, of which 25% are retired citizens. The property enjoys easy connectivity to public transport networks and direct road access to central Paris.

The second Villa Beausoleil property in the portfolio is situated in Le Plessis Trévise in the east of Paris, within the department of the Val de Marne which has 24% of households of retirement age. Comprised of 137 flats across a total area of 6,900 m2, facilities on offer to future residents include a lounge, Senior Fitness Centre and exclusive access to green spaces. Expected to be completed in Q1 2024, the asset is well connected by rail to central Paris and will enjoy further transport links to future metro line 15 of Grand Paris by 2025.

The acquisition comes off the back of the firm’s recent purchase of a senior living property in central Toulouse on behalf of Encore+, LaSalle’s pan-European open-ended fund. It showcases LaSalle’s growing presence and expertise in the sector, supported by its newly established Europe-wide Living and Hospitality asset management platform which now manages £3 billion (€3.6bn) in assets.

Beverley Kilbride, Head of France and Head of Transactions & Asset Management Europe at LaSalle, said: “This acquisition marks another significant step for LaSalle as we seek to scale our clients’ exposure to the senior living asset class and other alternative sectors across Europe. We are particularly pleased to have sourced and acquired these assets, in the French market, which will provide stable and secure long-term incomes.”

Falko Schlafke, Fund Manager at LaSalle, added: “This is a landmark transaction, on behalf of our valued German institutional investor client, as it diversifies the client’s property portfolio with both a new market and a new sector.”

LaSalle was advised on this transaction by Lexfair (Notary), Mayer Brown (Legal), Reed Smith (Legal/Financing), I2F (Technical), Green Soluce (Sustainability), Valoris (Tax and Structuring) and JLL (Buy-Side).

About LaSalle Investment Management 
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

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