13 february 2018

Acofi's real estate debt outstandings and fundraising are seeing accelerated growth

Acofi Gestion is now targeting an overall outstanding amount of €1.2 billion on this asset class for the end of 2018. The real estate debt team is strengthened by the arrival of Leïla Benamer, who is taking on the responsibility of Portofolio Manager.

Since July 2017, Acofi Gestion has raised nearly €700 million for its secured real-estate debt activities and is continuing to raise its LF Predirec Immo V fund, particularly from non-resident investors.

This capital will be deployed by the end of 2019 as part of various real estate financing strategies in the main markets of the eurozone: France, Germany, the Netherlands, Spain and Italy.

The transactions carried out in 2017, worth nearly €300 million, and a strong deal pipeline should make it possible to envisage a significant increase in managed assets, which should exceed €1.2 billion at the end of 2018, net of natural repayments.

Leïla Benamer’s recruitment as Portfolio Manager for the real estate debt team reinforces the team’s sourcing and structuring expertise thanks to Mrs Benamer’s experience in receivables management, particularly at PBB and Eurohypo.

French legislation will evolve in the first quarter, with the anticipated adoption of a decree by the French Council of State authorising securitisation undertakings to grant loans directly. ACOFI Gestion, with more than 5 years’ experience and €1 billion committed in real estate debt, intends to take advantage of this development.

‘This new organisation and the ability to grant loans directly will offer ACOFI’s investor clients exposure to unique proprietary operations, thus contributing to a true diversification of their portfolios’, explained Christophe Murciani, Director of Real Estate Loan Funds and head of the Management Team.