Our Banking & Finance team in Paris has advised Caisse d'Épargne Grand Est Europe on a 18.3 million euro loan agreement with French real estate investment company Iroko zen.

Managed by Iroko, a FinTech savings company created in 2020 bringing together professionals from the tech, real estate and regulated investment vehicle sectors, Iroko zen is a French real estate investment company (SCPI) that allows individuals to invest in an SRI-labelled SCPI. Iroko zen is adopting a diversified strategy, investing in Western Europe in the food retail, health, day-nurseries, office property and logistics sectors.

Since its creation, Iroko zen has brought together more than 2,800 individual savers and collected more than 120 million euros.

The confirmed loan of 18.3 million euros will enable the SCPI to finance part of the purchase price of 11 commercial buildings. An unconfirmed loan of 12 million euros may be used to partially finance the acquisition of other commercial properties.

Gowling WLG France advised Caisse d'Epargne Grand Est Europe and was led by Paris banking and finance partner Danhoé Reddy-Girard, assisted by associate Kamarya El Yaagoubi.