Natixis Partners advised CDC Habitat, a subsidiary of Caisse des Dépôts, on the sale to CNP Assurances of 85% stake in company Lamartine which holds a portfolio of more than 7,600 housing units in France. With a portfolio valuation of €2.4 billion, this transaction corresponds to the largest transaction in the residential sector of the year.

This operation corresponds to the largest real estate transaction in the residential sector in the history in France. Carried out as a share deal, it is the result of a competitive process involving some thirty French and foreign investors, demonstrating a very strong appetite for this asset class. The housing units in the portfolio are exclusively located in areas with a lack of supply (“zones tendues”): 50 % of which are located in the Île-de-France region, near major transport networks, and the other half in the main French cities where the rental market is experiencing the most tension. The portfolio was built based on selective environmental and social criteria. Over half of the stock is comprised of new buildings that comply with the most recent environmental and energy standards. Moreover, 30% of the portfolio concerns intermediate housing, intended to young working people and middle-income earners to find housing at rents below market levels. The CDC Habitat Group retains 15% of the capital of the company Lamartine created for this transaction and managed by Ampère Gestion. This is a long-term partnership with CNP Assurances, which enables CDC Habitat to finance its development plan aimed at generating more than 20,000 housing units per year, and thus to participate in supporting the local economy.