BPCE Lease, Caisse d’Epargne CEPAC, and BRED Banque Populaire finance new premises for the Leroy Merlin brand in Reunion Island.
The €29.5 million transaction was signed on June 28 with BPCE Lease, Caisse d'Epargne CEPAC, and BRED Banque Populaire on behalf of the Ravate group, a leader in non-food retailing in Reunion Island at the head of well-known names such as Lapeyre, Gifi, Intersport, and Mango. Groupe BPCE, working through its different brands, has demonstrated its customer insight and the full range of its expertise in this emblematic and highly coveted project to finance the construction of the island's third Leroy Merlin site: BPCE Lease financed the construction of the building under a 15-year real-estate leasing agreement. For their part, BRED Banque Populaire and the Caisse d'Epargne CEPAC provided a counter-guarantee for the operation.
BPCE Lease is a major player in the French real-estate leasing market, a financing method that enjoyed growth of more than 7% in 2018 (according to the French Association of Financial Companies).