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REIT activity: growing asset value despite temporary pressure on occupancy rate
- €186m of owned asset, a slight increase compared to December 31, 2023
- Financial occupancy rate down to 75%
Third-party asset management: resilient performance in an uncertain market
- Assets under management for third parties: €9bn, up 4% over the year
- Revenues on management fees: €18m, up 17%
- Gross subscriptions: down to €34m, affected by a sluggish market, with inflows heavily concentrated in certain SCPIs
Operational and strategic developments: expanded, adapted and optimized portfolio
- Signature of a lease renewal with a significant expansion of over 2,000 sqm in the Franklin Tower, in La Défense
- Assistance toParkway Life REIT in the acquisition and management of its first European portfolio, valued at more than €110m
- Initiation of the fund management activity in Italy, the Italian branch of PAREF Gestion being appointed as the fund manager of Fondo Broggi, owner of The Medelan asset, one of Milan’s most attractive addresses
- Launch of SOLIA Paref, the Group’s property management subsidiary, managing 350 assets and obtaining a new management mandate from an institutional investor
- Renewal of the fund range managed by PAREF Gestion, increasing distribution rates for 2024 while maintaining, once again, subscription prices
- Concrete progress and awards for the ESG Strategy “Create More“
2024 dividend and 2025 outlook
- Proposal by the Board of Directors to maintain a dividend of €1.5 per share payable in cash for the 2024 financial year, subject to approval by the General Assembly of May 22, 2025
- Continued development and diversification of the Group’s activities, particularly through the integrated “ONE-STOP-SHOP” offering to attract new management mandates
- Maintaining a selective and value-creating investment strategy, through rigorous and sustainable portfolio transformation and management
« Once again, this year PAREF leveraged its historic expertise to support clients and enhance performance, while continuing its development on a European scale. In so doing, the Group reaffirms the quality of its operational management and its resilience in a still constrained market. Key achievements such as the signing of a strategic partnership with Parkway Life REIT, the appointment as manager of Fondo Broggi and the launch of SOLIA Paref are tangible proof of our teams' efforts and illustrate the Group's ability to provide complementary expertise in real estate services. Building on this momentum, PAREF continues to lay the foundations for sustainable performance and the satisfaction of its clients and shareholders. »
« In 2024, we accelerated our expansion in Europe by capitalizing on the complementary nature of our businesses and our commitment to CSR. Real estate needs and uses evolve. The Group has successfully adapted by meeting the expectations of both clients and end users and by repositioning its range of funds. The strong performance of the funds once again demonstrates the know-how of our teams. For 2025, we will continue to prioritize performance, adaptability to changing usage patterns, asset sustainability and strong relationships with our clients at the heart of our real estate management. »
