Edgar Suites has secured a €180 million bank loan from Crédit Agricole CIB, BNP Paribas and Société Générale to refinance part of its portfolio and accelerate the development of new serviced apartment buildings in France and Spain.
The transaction, structured as senior debt maturing in 2031, comprises ten property assets – seven in France and three in Spain – with a combined capacity equivalent to more than 800 hotel rooms. 80% of the amount has been arranged in accordance with green financing criteria.
The funds will be allocated both to properties already in operation and to the development of projects in Paris, the Côte d’Azur, Málaga and Valencia – markets where the group is currently focusing much of its growth. The roadmap aims to reach 4,000 rooms under development and in operation by 2030.
Edgar Suites currently operates 28 serviced apartments, comprising both open properties and projects under development, representing around 1,500 rooms. Having established its presence in eleven French cities, including Paris, Lille, Bordeaux, Nice and Cannes, the company began its international expansion in 2025 and has since made four acquisitions in Málaga and Valencia.
Its business model combines investment, development and the subsequent management of properties, primarily through the conversion of offices and other buildings that are no longer suitable for their original purpose. Over the last four years, it has completed acquisitions totalling more than €330 million, comprising eleven properties and nearly 900 rooms.
The platform expects to achieve a turnover of close to €30 million in 2026, having recorded average annual growth of over 35% over the last three financial years. Since 2021, its expansion has been backed by Proprium Capital Partners, which participated in a €104 million funding round.
Cyrille Fromentin, Chief Financial Officer at Edgar Suites, noted that the new debt will provide the necessary resources to expand the group’s European portfolio and consolidate its access to institutional financing.
Eastdil Secured acted as financial adviser on the transaction, while Archers, Arsene Taxand and Pérez-Llorca handled the legal and tax aspects. Lexfair acted as notarial adviser and CBRE carried out the valuation of the assets.
