Five major investments in 2020 for French Public Real Estate Funds

At the end of 2020, SCPI, REIT and OPCI Grand Public have invested more than €12.80 billions euros, based on a sample of 121 vehicles. The SCPIs made € 7.34 billion euros of investments for a total area of 2.3 million square meters. As of 31 december, 2020, real estate funds hold more than 12,600 assets in France and Europe. Among these, we identified five major investments realized in 2020.

Offices Clarity

Boulogne-Billancourt (France)

Total area : 7 500 m2

Owners : SCPI Atout Pierre Diversification (50%) et SCPI Lafitte Pierre (50%)

Asset Management Company : AEW Ciloger

Source : aewcilloger.com

The SCPI Atout Pierre Diversification and Lafitte Pierre, managed by AEW Ciloger, acquired the “Clarity” office building in VEFA (Future State Of Completion) for an amount of € 106 Mn.

Strategically located in the city of Boulogne-Billancourt (92), at the exit of the Marcel Sembat metro station, the building will develop more than 7,500 square meters of offices spread over 7 levels, embellished with numerous green spaces and terraces. 140 parking spaces,1 5% of which are equipped with electric bollards, will complete the complex. The assets will be delivered in the first half of 2022 following a heavy restructuring operation for the BREEAM Level Excellent certification and the Wired Score Silver Level label. It is fully pre-leased to Alten, one of the world’s leading technology engineering and consulting firm, for a firm 10-year term.

Offices Bodio Center

Milan (Italy)

Total Area : 80 000 m2

Owner : OPCI Diversipierre

Asset Management Company : BNP Paribas REIM

Source : reimbnpparibas.fr

On behalf of its OPCI Diversipierre, BNP Paribas REIM acquired a real estate complex in Milan (Italy), last August. The business park, certified LEED Gold and BREEAM Good, has a total area of more than 80,000 square meters and consists of 5 office buildings and 2 buildings for service activities.

Vincenzo Nocerino, Chief Investment Officer of BNP Paribas REIM :

“Despite the phase of economic uncertainty related to the health emergency, Milan is still an important place to invest in a long-term perspective. In this sense, the acquisition of the Bodio Centre is characterized by the great potential associated with the urban development of the city. The real estate complex is located in an area designed to represent the natural evolution of the Porta Nuova district once the project to convert the railway stations has begun.”

 Logistic Platform « Maisons du Monde »

Heudebouville (France)

Total area : 69 000 m2

Owners : OPCI Opcimmo (50%), SCPI Genepierre (7,5%), SCPI Edissimmo (12,5%), SCPI Rivoli Avenir Patrimoine (5%) 

Asset Management Company : Amundi Immobilier

In Heudebouville (Eure), Amundi Immobilier has invested € 65 Mn in a logistics platform that it will lease to Maisons du Monde for a period of 12 years. 250 jobs are expected in this logistics centre built by Gemfi. Rented from Maisons du Monde, a French furniture and decoration brand, this platform will have an area of 67,000 square metres of warehouses and 2000 square metres of offices. The construction is entrusted to the specialist developer of corporate real estate GEMFI.

Logistics assets have been on the rise in recent months. First, there is the rise of e-commerce and the development of the online sales sector, a growing success in response to a new consumer habit. These changes are correlated with the ecological transition and the desire to reduce the carbon footprint in the face of the tightening of environmental rules. These ecological and societal issues are also added to the need for storage assets closest to the consumer, the urban logistics of the last kilometer. All of these reasons justify the growing interest of real estate funds in moving towards this type of asset.

Campus Fleurus

Paris (France)

Total area : 3 532 m2

Owners : OPCI Dynapierre

Asset Management Company : Swiss Life Asset Managers

Source : GDG Investissements

On behalf of its OPCI Dynapierre, Swiss Life Asset Managers has acquired this  high-tech campus from the GDG Investments Group. Campus Fleurus is located 34 rue de Fleurus (Paris 6) in the Notre-Dame des Champs/Odeon district. Acquired by GDG Investments, with the participation of the investment holding company La Maison, with the Alliance Française a year ago, the building has undergone a restructuring. Indeed, Campus by GDG, launched by the GDG Group, aims to convert obsolete buildings into schools, training centres or urban campuses. OPCI Swiss Life Dynapierre has therefore invested in a completely restructured asset with  an area of 3,000 square metres  spread over eight floors, three levels of redesigned infrastructure, a 150-seat amphitheatre, a ERP3 classification with a capacity of 700 people, the  BREEAM environmental certification as a target and the ESME Sudria as a tenant under a  nine-year lease.

Health facilities portfiolio

North Italy

Area : 49 200 m2

Owner : SIIC Icade

Source : icade.fr

On 18 December, Icade signed a real estate portfolio of retirement homes in Northern Italy, fully rented or pre-rented under leases of an initial term of 18 years firm, for a total amount of € 130 Mn.

This real estate portfolio, consisting of three existing nursing homes and four projects to be built,scheduled for delivery by the end of 2023, is located in the regions of Veneto, Piedmont and Lombardy and represents a total of  1,056 beds and 49,200 square meters. This transaction is part of Icade’s continued international diversification in Health Real Estate, bringing the investment of the Health Fund to 720 million euros internationally.

Property investment company and developer, Icade is an integrated real estate operator, designing innovative real estate products and services to meet new urban uses and lifestyles. This listed real estate combines investment in tertiary and health real estate, Icade being the leader in investment in the walls of private clinics in France.

Published in : Commercial Real Estate, Market Studies   By : Rock & DATA   On : April 1, 2021

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