This provides due recognition of the responsible investment strategy adopted by our subsidiary specialised in property portfolio management.

AMPERE Gestion has been awarded the SRI label for FLI II based on the concrete measured environmental, social and governance commitments it has made. These actions are fully aligned with CDC Habitat’s ecological transition and social utility strategy.

• Environment: a selection of new buildings with excellent energy and environmental performance that is ahead of regulations, and optimal energy consumption and water management processes;
• Social: matching type of housing with the local needs of residents (i.e., affordable rents in the most supply-constrained areas, rigorous technical specifications, etc.) and systematic inclusion of local stakeholders in building projects (tenants, associations, etc.);
• Governance: deployment of responsible procurement practices with service providers and suppliers.

The SRI label was created by the French Finance Ministry and extended to the real estate sector in late October 2020. It represents a continuation of the strategies adopted by AMPERE Gestion and CDC Habitat.  For the purposes of obtaining the label, FLI II was audited by Ernst & Young.

As Vincent Mahé, Chairman of AMPERE Gestion explains, “the creation of this SRI label for the real estate sector is an important step forward as it provides investors and managers with a solid benchmark that is recognised by the public authorities. For AMPERE Gestion – which has often been ahead of the curve in terms of responsible investment – obtaining this label for FLI II was a natural choice and we are delighted to be able to display this new label.”

4 December 2020

Public servants who are members of PRÉFON will be able to reserve affordable rental housing within the FLI intermediate housing fundunder the terms of an agreement between CDC Habitat (manager on behalf of FLI), Caisse Nationale de Prévoyance de la Fonction Publique (Préfon), Allianz VIE and CNP Assurances.

Beginning in December 2020, public servants who are members of PRÉFON, the French public service personal risk insurance and retirement scheme, will have exclusive access to reserved intermediate housing via a dedicated space on CDC Habitat’s commercial website, enabling them to consult housing offers and make reservations, submit applications, visit apartments and sign a lease – all online.

This partnership has been made possible by PRÉFON’s participation in the FLI intermediate housing fund via CNP Assurances and Allianz VIE, each of whom has invested €20 million. It is part of the FLI’s initiative to offer all of its investors the possibility of reserving housing for their beneficiaries and providing concrete housing solutions in supply-constrained areas.

For Préfon members, access to this programme is about providing additional services to those who have invested in the scheme. We are delighted to be able to provide this service, which is of even greater benefit because the public servants who need it are already aware of the programme and we are determined that as many people as possible should be able to benefit.

Philippe Sebag
Chairman of Préfon

FLI2 pursues what AMPERE Gestion, CDC Habitat’s asset management subsidiary, initiated through FLI, the latter being now fully invested. The FLI2 disposes of an aggregated €2 billion investment capacity (leverage included) to engage the construction of 11,000 housings (8,000 intermediate lots and 2,000 senior or student-oriented ones).

The new fund’s strategy’s is in line with its predecessor’s one, combining both financial return and social impact, by providing resources to deploy affordable housing in the most tense French cities.

With this fundraising, the largest in the residential sector in Europe over the last 3 years, we hold a privileged position to invest in new housing in “Grand Paris” area. Such a result demonstrates that intermediate housing has emerged as a new asset class targeted by institutional investors in their asset allocation strategy.

We are also grateful to the investors who will allow, with the support of CDC Habitat, to boost affordable housing supply in the areas where it is most lacking

Vincent Mahé,
CEO of AMPERE Gestion and Corporate Secretary of CDC Habitat.

This was the largest amount raised in the European residential property sector in 2018.

FLI 2 brings together 15 institutional investors, half of whom had already invested in FLI 1, and this new round of funding has also provided an opportunity to get major foreign investors on board. A second round in 2019 will enable FLI 2 to finance the production of over 11,000 units of – mostly intermediate – housing in major French cities.

FLI 2 will take over where the first intermediate housing fund (FLI 1) left off. FLI 1 was launched in 2014 with an investment capacity of €1.7 billion, corresponding to 10,000 units of intermediate housing. This amount has now been invested and the fund has met all of its objectives in terms of location quality, yield and financial performance .

The success of FLI 1 and of this round of funding is a testimony to renewed investor confidence in the French residential property sector. It also highlights CDC Habitat’s ability to source large volumes of residential property assets throughout France and provide its partners with industrialised platform management facilities.

A strategy underpinned by social utility

As part of a social impact investment approach, the fund has ambitious SRI goals that will involve rating each asset according to environmental and social criteria. The aim is to continue to boost the supply of rental solutions in major cities by funding a portfolio of affordable, energy-efficient properties.