An agreement with RRP to fund middle income rental housing

On 20 November, Caisse des Dépôts and RRP (Groupe Solendi/Action Logement) signed, on savings funds from Caisse des Dépôts, for period 2015-2019, a €65mn multiannual agreement to fund middle income housing (LLI) in Ile-de-France.

Property & housingMedical-social sector and solidarityBanking services and consignments
20November2015

RRP
An expert subsidiary in intermediary social housing (LLI) from the Solendi/Action Logement group, RRP has a stock of over 6,200 housing units and is planning an annual development of 400 units per year. This partnership will allow for the development of a rent controlled housing offer, 20% less than the market rate in the tightest market areas of Ile-de-France. This housing will be offered as a priority to company employees.

The funding offered by Caisse des Dépôts will be used in addition to RRP equity, bank loans from Caisse d’Epargne and loans from Action Logement. This funding will allow for the construction of over 600 housing units in tight market areas, in 2015 and 2016, for on overall investment amount of over €160mn. Via this agreement, Caisse des Dépôts is supporting the development of RRP in the creation of its investment programme.

Caisse des Dépôts, in the context of its missions for the public interest, through the management of the savings funds, mainly finances social housing, via very long-term loans, as well as Urban Affairs issues (construction, rehabilitation, urban renovation and housing stock acquisition).

 

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