La Française Real Estate Managers (REM) acquires a senior co-living property in Choisy-le-Roi (94), France

La Française Real Estate Managers (REM), acting on behalf of a collective real estate investment vehicle, has acquired off-market a co-living residence for seniors, located at 13 Avenue du Général Leclerc in Choisy-le-Roi (94). The property is operated by Chez Jeannette, under a 12-year lease.

The property is situated in the city center, near the town hall and its park, in a neighborhood well-serviced by public transportation (RER C, Choisy-le-Roi station; T9, Rouget de Lisle station). The property is close to a variety of medical facilities: the medical care and rehabilitation clinic of Choisy-le-Roi, 280 meters away; a nurse’s office, 400 meters away; a pharmacy, 350 meters away.

The acquisition involves a townhouse built at the end of the 19th century. It consists of a main building and two pavilions extending from the right and left wings. With its 300 m² south-facing garden, the home offers three upper floors (R+3). It will be converted into shared senior housing (total surface area of 538 m² Carrez) with services (a house master and living aids), capable of accommodating 12 residents (11 rooms with bathrooms in the main building and 1 independent apartment in the left wing). Renovations to convert the space, which include thermal interior and exterior insulation, non-toxic interior paint and flooring and rainwater collection, and achieve good energy performance are financed by the buyer.

The Chez Jeannette concept is a new way of caring for the elderly, by offering an alternative to existing solutions to support seniors who are losing their autonomy and by developing a shared and supervised housing model. The goal of Chez Jeannette is to provide support services, create social ties and develop a home living environment.

Jérôme VALADE, Director of La Française REM’s Healthcare Real Estate Division, concluded: "This rehabilitation project involves restorations and improvements that will enhance the environmental performance of the property. We are delighted to renew this transformation experience alongside Chez Jeannette, an operator with whom we share a common vision of senior care giving."

For this acquisition, La Française REM was advised by 14 PYRAMIDES (Me Louise Bonnet-Kinget), ARCHERS (Me Marlène Benoist Jaeger), NERCO (Florence Gilg) and the teams of Wüest Partner.