Orrick Advises Axa Investment Managers - Real Assets on Strategic Partnership with In'li

July.30.2020

Version française: Orrick conseille Axa Investment Managers - Real Assets dans la mise en place d’un partenariat stratégique avec In’li pour développement du logement intermédiaire en Ile-de-France

We advised Axa Investment Managers - Real Assets in the negotiation of a long-term strategic partnership with In'li, a subsidiary of Groupe Action Logement. The partnership includes the creation of a new property company for the development of a portfolio of almost 20,000 new affordable housing units in the Ile-de-France region over the next 10 years.

As part of this partnership, In'li will hold a 25% stake in the new property development company through which approximately 5,800 existing housing units and 4,000 new housing units currently under construction will be forward funded by the venture. These assets will be managed by In'li through its asset management subsidiary In'li Property Management and AXA IM - Real Assets will provide the asset and fund management. The closing of the transaction is scheduled for the end of 2020.

With this new transaction, AXA Investment Managers - Real Assets, one of the world's leading real estate investment managers and a leader in real estate asset and portfolio management in Europe, pursues its residential investment strategy by focusing on markets with significant needs and favoring intermediate segments in order to provide affordable housing that meets the strong needs of middle class and young working people.

The Orrick team was led by partner Patrick Tardivy and included partner Olivier Jouffroy and associates Lara Donnedieu de Vabres and Léa Menaut for the M&A aspects; partner Carine Mou Si Yan for the financing aspects; and partner Patrick Hubert and associate Léna Boucon for competition law aspects.