Danish pension fund PFA has awarded a second mandate to La Française Real Estate Managers for the acquisition and management of senior housing and residential property in Europe, particularly in France and Belgium.
Initial equity investment of €300 million is envisaged and this will be invested over the next few years.
Of this, €200 million will be invested in senior housing complexes and €100 million has been allocated to investment in the private rented sector in major cities.
La Française already manages residences and residential investments respectively worth €1,183 million and €1,775 million.
PFA previously awarded La Française Real Estate Managers a €100 million mandate in October 2019 for the acquisition and management of a French senior housing portfolio.
“Having successfully deployed this capital, we are delighted to be further developing our partnership and expanding our geographic focus to other European countries and our strategy to the PRS sector,” said David Rendall, managing director of La Française Real Estate Managers’ institutional division.