Cases & Deals

Mirabelle launches reverse mortgage loans fund

Client(s) Mirabelle S.A.

Jones Day advised Mirabelle, a French financing company licensed and supervised by the French Prudential Supervision and Resolution Authority (ACPR), in connection with the establishment of a French fund dedicated to the refinancing of reverse mortgage loans (prêts viagers hypothécaires) granted by Mirabelle to French individuals. The fund was set up in the form of a French fonds commun de titrisation, classified as Article 8 under the EU Sustainable Finance Disclosure Regulation (SFDR) and privately placed with leading institutional investors. Founded in 2024, Mirabelle's corporate purpose is to finance healthy aging in France and across Europe. The reverse mortgage loan is an innovative financing product that enables retired homeowners to unlock part of the value of their property without selling it. Borrowers remain the owners and occupants of their home, with no mandatory repayment during their lifetime. This mechanism addresses critical needs arising from demographic aging: improving quality of life in retirement, adapting housing to age-related requirements, enabling seniors to remain in their homes, and financing healthcare or dependency-related expenses.