Elyseum Real Estate is pleased to announce the finalisation of a bridge financing related to the conversion of offices into coliving in France.
Elyseum Real Estate has identified the financing of coliving projects in France as an attractive opportunity in terms of needs, growth, capital appreciation potential and resilience. According to reference market observers/players (L’Obsoco / Somfy / Nexity / CDC / L’Observatoire de l’Habitat 2019), 10% of the French people are interested by coliving (6.7 Million people) whereas 2,500 are available for such use. There is a significant potential growth while this new asset class is already seen as particularly resilient. In order to mitigate the risks inherent to this new sub market, Elyseum Real Estate has decided to structure the investments as financings with a first or second ranking mortgage and focus on investments involving tier-1 parties, thus limiting the risks inherent to a relatively new market.
Elyseum Real Estate is pleased to announce the completion of a first financing for the acquisition of a 2,600 SQM mixed use retail and office building in a prime location in Versailles. The office component of the building will be converted gradually from office to coliving units with common areas that include living rooms, kitchens, libraries, gym, sauna and laundry, semi-private areas with larger lounges with open kitchen, and car parking units.
The completion of this financing confirms Elyseum Real Estate’s ability to identify and participate in the latest real estate trends, while mitigating the risks incurred by its investors. Based on its proven track record and proprietary deal flow, Elyseum Real Estate intends to further develop its portfolio of coliving development mezzanine financing over the coming years.
About Elyseum Real Estate
Elyseum Real Estate is an independent real estate investment firm based in Paris, London, Geneva and Luxembourg.
The company structures real estate investment solutions for institutional investors and family offices, both in equity and debt. We manage income generating, value add and opportunistic assets both in established and emerging markets. We operate either directly or through a network of best-in-class local partners with deep market knowledge.
Elyseum Real Estate forms part of Elyseum Investment Group, an independent investment group combining a portfolio of over €2.5 Billion of assets in private equity and real estate.