Clearwater International advises Harvestate AM on the fundraising of its new land redevelopment investment fund ‘Terrae Optimae 1’ in partnership with Nexity
Harvestate AM has completed an initial closing of its Terrae Optimae 1 alternative investment fund. The fund will invest in plots of land with strong redevelopment potential, mainly located in Greater Paris and urban areas around some of France’s other major cities.
Terrae Optimae 1’s investment strategy is based on acquiring land to be converted for predominantly residential future development projects. In particular, the fund bears the risk of obtaining the planning permissions required to develop the land.
This strategy has been developed through an exclusive, innovative partnership with the Nexity group, designed to ensure an alignment of interests between the fund and the developer. Nexity is also a minority shareholder in the fund.
The funds raised through this initial closing, primarily with various French institutional investors, provide Terrae Optimae 1 with an equity investment capacity of more than €130 million.
The Clearwater International France team was composed of Laurent Camilli, Managing Partner and Victor le Breton, Analyst.