PAREF: Financial Information for the First Quarter of 2022-April 28, 2022 17:50

Consolidated sales increased by 106%

The PAREF Group has consolidated sales of € 13.7 million.

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The 2022 quarter. It consists of:

  • Total rental income was € 1.8 million, with a slight decrease mainly related to the disposition implemented in 2021.

  • The new management obligations signed in 2021 and the delivery of Medelyan assets at the end of the first quarter of 2022 made it possible to record performance fees, resulting in a total management fee of € 4.5 million, the same period in 2021. It became + 80% in comparison.

  • The total subscription fee was € 7.4 million, an increase of 246% compared to the same period in 2021. This includes € 50 million primarily for March 2022 at SCPI Novapierre Germany 2.

Sales (M €)

1

March 31, 2021

March 31, 2022

%change of

Total rental income

[1]

2.0 2.0

1.8 1.8

-12%

Fees (management and underwriting)

4.6

11.9

+ 156%

-Including management fee

2.5

4.5 4.5

80%

-Including subscription fee

2.1 2.1

7.4 7.4

+ 246%

total

6.6

13.7

+ 106%

Highlights of activities in the first quarter of 2022

  • PAREF completed the sale on March 28, 2022 with a total net sale of € 36.9 million in Nanterre Lugaia’s office assets, in line with the final valuation of 31 December 2021.

  • PAREF has entered the process of selling assets in Jubilee. The sale is scheduled for the 3rd.

    th

    Quarter 2022; In line with the strategy of aggressive rotation of assets held by real estate companies;

  • PAREF has signed a lease agreement for the entire “The GO” building in Le Vallo Appele. This signature with a major tenant is made 6 months before the delivery of the building. The confirmation period is 9 years.

  • PAREF Gestion raised a total of € 76 million a day.

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    The highest quarterly inflow since 2020, mainly from the SCPI Novapierre Germany 2 and Novapierre Résidentiel funds in the 2022 quarter.

  • PAREF Gestion has completed two acquisitions of SCPI Novapierre Germany 2’s retail assets in Germany and € 25 million in the RTE Regional Headquarters in Toulouse, SCPI Interpierre France.

  • PAREF Investment Management has completed the reconstruction of the “Medelyan” building in Milan’s historic city centre, allowing payment of performance fees. Currently, 75% of office space and 13% of retail space are rented or well-stocked.

“In the particularly constrained environment of the last few months, we are pleased to note the strong recovery of subscriptions to PAREF Gestion and the performance of PAREF Investment Management to strengthen the assets of PAREF real estate companies in both leasing and sales. »»

Magali Volet – Group Chief Financial Officer

“The PAREF Group’s direction continues to be good, and quarterly sales prove the strength of the model and the quality of the team. Therefore, the positive exceptional results achieved this quarter are the recovery of the group. It supports power. »».

Antoine Castro – Group Chairman and CEO

Financial diary


May 19, 2022: Joint General Assembly

July 28, 2022: Results for the first half of 2022

About PAREF group


As of December 31, 2021, PAREF has assets of € 2.7 billion.

The Group has two complementary business units: (i) investment by real estate company SIIC PAREF mainly in commercial real estate (asset 200 million euros) in the Paris region and (ii) management of third party accounts by PAREF. Is developing in. Management company approved by Gestion (€ 1.8 billion), AMF and PAREF Investment Management (€ 700 million)


PAREF is a SIIC real estate company listed on Section C of Euronext Paris-FR0010263202-PAR

More information on www.paref.com

contact address

Antoine Castro

Group Chairman and Chief Executive Officer

[email protected]

like that. : +33 (0) 1 40 29 86 86

Press contact


Citigate Duro Jarson

[email protected]

Tom Rubila

Phone number: +33 (0) 7 60 90 89 18

Magari Boretto

Group Chief Financial Officer

[email protected]

like that. : +33 (0) 1 40 29 86 86


[1]

Excludes collection costs, excludes Gaia consolidated using the equity method


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