M&G European Living Property Fund buys 173 Paris apartments from Gecina for €67m

M&G Real Estate has acquired two newly built Greater Paris residential properties with 173 rental apartments from French REIT Gecina for €67 million ($75 million). The off-market purchase was made on behalf of the M&G European Living Property Fund, IREI reported.

The buildings are Alba Residence in La Garenne-Colombes and Rueil Arsenal in Rueil-Malmaison, both in Hauts-de-Seine west of Paris. Completed in 2025 by Woodeum, part of Cogedim, and Les Nouveaux Constructeurs, they offer a mix of smaller apartments and family homes, most with a balcony, terrace or garden, plus on-site parking. IREI reports the properties offer access to transit, employment centers and amenities, with further Grand Paris network links planned.

The fund launched in 2023 to develop or acquire modern housing across Europe for institutional capital and now holds more than 1,700 homes, per IREI. This is its 10th investment and its second in France. It sits within M&G's €96 billion ($108 billion) private markets business.

M&G also bought Paris real estate this year through a separate-account mandate: a €28.6 million forward funding of a logistics parcel north of Paris in September, as this publication reported.