The PAREF Group today announced the sale of an office asset near the Juvisy-sur-Orge train station (South of Paris) to a property developer. Owned by the PAREF Group's listed holding company since 2007, the sale of this office property of more than 2,600 sqm has been thoroughly prepared by the Asset Management teams.
The operation is fully in line with the strategic repositioning of the holding company's portfolio towards greater value creation. This strategy, initiated in 2017, has resulted in yields, occupancy rates and improvements in average residual terms of leases. Furthermore, 86% of the holding company's assets are located in the Greater Paris area today, compared to 78% in 2018.
"This sale is a major step in our portfolio transformation strategy, which focuses on assets' quality and value creation opportunities for our investors," said Anne GILLET-FEILLON – PAREF Group Real Estate Director.
PAREF was advised in this transaction by NCT under a co-exclusive mandate with BNP.
July 28th, 2022: Half-Year 2022 Results
About PAREF Group
As of December 31st 2021, PAREF has €2.7Bn assets under management.
The Group operates in two major complementary areas : (i) investments owned by SIIC PAREF primarily in commercial real estate in the Paris region (€0.2 bn asset) and (ii) management on behalf of third parties by PAREF Gestion (€1.8bn), AMF-certified management company, and by PAREF Investment Management (€0.7bn).
PAREF is a company listed on Euronext Paris, Compartment C, under ISIN FR00110263202 – Ticker PAR.
More information on www.paref.com