Clearwater International advises Belambra on the creation of a real estate company: Fonciere Belambra
Clearwater International’s real estate and debt advisory teams have advised Belambra on the creation of a real estate company which focuses on properties operated by the Group being held on a long term basis.
Belambra operates 58 holiday clubs in France and generated sales of €148m in 2010.
This dedicated real estate company initially holds six buildings (valued at approximately €100m) and the real estate and development department of Belambra manages them. Other buildings will increase its assets thanks to future projects of development achieved by the Group. Moreover, this real estate vehicle could take the “OPCI” status (“Organisme de Placement Collectif Immobilier”) and potentially open its capital.
A portion of the current portfolio was refinanced under a finance lease. These leases were set up by the BNP (leader) and Credit Agricole.