30 november 2017

Acofi Gestion announces the end of the investment period of the LF Predirec Immo IV real estate loan fund, which has deployed nearly €500 million

ACOFI Gestion announces that it has completed the investment programme of its 4 th Real Estate Loan Fund: LF Prédirec Immo IV. A receivable acquired in November completed the portfolio and brought it to €413 million, which corresponds to the amount of subscriptions collected. By reinvesting early repayments, the management team will have deployed more than €500 million in 7 countries.
This loan portfolio is backed by various types of real estate assets in France and on the major European liquid markets, mainly offices, retail and hotels.
ACOFI Gestion’s teams will have built up the portfolio in just over 24 months for more than €500 million with an attractive risk/return ratio – better than initially expected – for a weighted average loan to value ratio of 57%, 12 receivables spread over 7 countries in Europe (France, the Netherlands, Belgium,
Germany, Italy, Austria and Spain) and a gross margin on Euribor of 230 bps.

We are pleased to be able to complete the deployment of Fund IV by acquiring a receivable in the Netherlands, with an extremely professional sponsor and a portfolio of 4 quality assets. We have thus finished putting to work the capital that investors entrusted to us between 2015 and 2016’, said Christophe Murciani, Director of Real Estate Loan Funds and head of the Management Team.

‘We held to our business plan with LF Prédirec Immo IV, maintaining a sustained pace without compromising on the quality of receivables. The way is now clear for us to begin deployment of our new LF Prédirec Immo V initiative in earnest’, stated Thibault de Saint-Priest, Managing Director of ACOFI