VVF
Context
The Caisse Générale de Prévoyance (BPCE Group) owned a set of 10 tourist residences, located on the Atlantic coast, on the Côte d’Azur and in the Alps, operated by VVF. It has decided to sell these assets via a portfolio sale & leaseback.
The challenge
Upside supported the General Management of the CGP in documenting the decision to dispose of these assets, assessing their market value, structuring the operation, coordinating the establishment of the data room jointly with a notary then to complete the transactional implementation of the operation until its successful completion.
“Upside successfully supported us throughout this portfolio sale & leaseback transaction, in a particularly unfavorable environment”
–
Frédéric Bourg, Managing Director
The results
The operation, made complex by assets being widespread all over France, their overall state and the lease binding the operator to the CGP, was successfully completed within the market value objectives set by the Board of Directors, despite a very adverse general context (e.g. rise of ECB rates)
