PRESS RELEASES

Standard-type intermediate housing development programme

The General Directorate of the administration and public service (DGAFP), the Public services supplementary pension scheme (ERAFP) and SNI Group have signed an agreement that will enable public servants living in the Greater Paris area to reserve affordable rental housing within the FLI intermediate housing fund managed by AMPERE Gestion.

FLI, France's first intermediate housing investment fund created by SNI and its subsidiary AMPERE Gestion, has just completed its financing drive for a total amount of €1,045 million.

French institutional investors had withdrawn from residential property over the last ten years, but they have been showing renewed interest in housing recently. Vincent Mahé comments on this come-back in French daily newspaper Les Echos.

Just four months after launching on 24 July 2014 by SNI (a subsidiary of France’s Statefinancial services entity Caisse des Dépôts), the Intermediate Housing Fund (FLI) has posted results that exceed its targets all along the line, from invested volume to location attractiveness and financial returns. Initial investments (1,200 residential units) focused on the most promising markets in France.

Four months after its launch on 24 July 2014, FLI is ahead of plan in terms of volumes invested, the attractiveness of locations and profitability.

FLI, the intermediate housing investment fund created by SNI Group, has just announced two long-term lending agreements with Deutsche Hypo and Caisse des Dépôts' Savings Funds for a total amount of €310 million.

SNI Group’s recently-created intermediate housing investment fund, Fonds de Logement Intermédiaire (FLI), is the first fund to offer institutional investors exposure to intermediate housing that gives entitlement to the specific benefits available under “Vie Génération” life insurance policies.

After a first closing of €515m, the Intermediate Housing Fund (FLI) is now aiming to raise additional funds

Following a first round of funding that raised €515 million, SNI Group is aiming to raise at least €700 million, and an investment capacity of €1.2 billion.

Caisse des Dépôts is spearheading the housing stimulus plan. Société Nationale Immobilière (SNI), a subsidiary of Caisse des Dépôts, has got together with a number of heavyweight French institutional investors to launch FLI, France's first intermediate housing investment fund.