M&G Real Estate has purchased two newly constructed residential developments in Greater Paris from French REIT Gecina for €67 million. Secured via an off-market deal, the portfolio comprises 173 rental apartments across Hauts-de-Seine, west of Paris.

The two properties are Alba Residence in La Garenne-Colombes and Rueil Arsenal in Rueil-Malmaison. Both sites provide access to central Paris, the La Défense commercial district, major employment hubs, schools and retail options. Transport links across both locations will expand further under the planned Grand Paris transit development network.

Completed in 2025 by developers Woodeum, part of Cogedim, alongside Les Nouveaux Constructeurs, the schemes feature a mix of small apartments and family units. The majority of homes include private outdoor spaces such as balconies, terraces or gardens, in addition to dedicated on-site parking. Both assets have already recorded strong occupancy levels.

The acquisition was carried out on behalf of the M&G European Living Property Fund. Launched in 2023, the fund deploy institutional capital into European housing assets to generate stable long-term income. The deal represents the fund’s tenth transaction overall and its second in the French market, taking its total residential portfolio to over 1,700 homes. M&G Real Estate forms part of M&G’s €96 billion private markets arm.

Antonin Prade, Investment Director France at M&G Real Estate, said: “This off-market acquisition reflects our ability to source high-quality opportunities in attractive residential markets from a reliable counterpart. The properties combine modern, energy-efficient homes with strong transport links in Greater Paris locations where people want to live. Their quality, location and leasing progress to date give us confidence that both properties will attract families and maintain quasi-full occupancy over the long term.”

Marcus Eilers, Head of European Residential at M&G Real Estate, added: “This acquisition reflects our disciplined approach to building a diversified European residential portfolio. It increases the Fund’s allocation to France, a large and established European residential market, while adding immediate income from two well-occupied properties. This combination of income, diversification and long-term rental demand can support resilient returns for our investors.”