Constitution of the new UNITI CROISSANCE 2 promotion joint venture
€22 million of equity contribution to be deployed on new real estate programs
Development objective of nearly €220 million in business volume including tax
UNITI, a benchmark real estate developer serving social diversity, and PGIM Real Estate announce that they have taken a new step in their long-term strategic and financial partnership with the creation of a new development joint venture, UNITI CROISSANCE 2.
This joint venture constitutes a new development accelerator for the property development activity of the UNITI group for its programs of social accession, intermediate housing or housing in managed residences.
In accordance with the press release of May 12, 2022 and concomitantly with their subscription to the capital increase of €7.98 million carried out in May 2022, SILVER HOLDING (company controlled by PGIM Real Estate) and UNITI have undertaken to contribute nearly €22 million equity contribution to this joint venture.
These financial resources will make it possible to accelerate the growth of the UNITI group on the dynamic markets for residential and managed housing, and in particular for senior assisted living facilities (RSS), by securing the deployment of a portfolio of operations representing a volume of business of more than €220 million in new residential production.