Consolidated turnover

• The PAREF Group's consolidated turnover reached € 28.2 million as of September 30, 2019, up +7 1TP1Q compared to the same period in 2018.
• This performance is mainly explained by the management activity on behalf of third parties and dynamic management of property assets held directly with an increase in rents at constant scope of +2.6 %, which offset the negative impact (i) disposals of assets held directly by PAREF in 2018 and 2019, (ii) the launch of the redevelopment project for the asset located in Levallois-Perret and (iii) the stop of collection on SCPI Novapierre Germany which reached its maximum capital at the end of the first half of 2019.

Highlights of operational activity

• PAREF finalized the acquisition of 6 floors of the Franklin Tower located on the forecourt of La Défense (Grand Paris) on September 30, 2019. This asset represents approximately 12,250 m² and was acquired from 3 funds managed by BNP Paribas REIM;
• The Group also exceeded 2 billion euros in assets under management thanks to the acquisition on August 28, 2019, of a property management platform in Italy, which manages the restructuring of the “The Medelan” building, 55,000 m² for mixed use in the historic city center of Milan;
• The management activity on behalf of third parties also reached nearly € 189 million in gross inflows at September 30, 2019 on SCPI funds, up +8 % compared to the same period in 2018. These results are explained by mainly by (i) strong performances on the funds Novapierre Germany and Interpierre France with respectively 81 M € and 35 M € collected and (ii) the launch of & #39; a new fund "Novapierre Germany 2" in September 2019 which has already raised 24 M € in one month.

“PAREF materialized during the 3^th quarter 2019 of the major stages of its development with the deployment of its capital on the SIIC and the continuity of its international expansion with a platform in Italy and the launch of a new SCPI by PAREF Gestion in Germany. Thanks to the involvement of the teams, the Group continues to demonstrate its ability to execute its strategy. "

Antoine Onfray - Deputy CEO

Financial Agenda

February 19, 2020: 2019 annual results

About the PAREF Group

PAREF is developing in two complementary activities sectors: (i) investment through the real estate company SIIC PAREF mainly in real estate for companies in the Paris region (128 M € of assets as of June 30, 2019) and (ii) management on behalf of third parties through PAREF Gestion (€ 1,656 million in funds managed as of June 30, 2019), a management company approved by the AMF and PAREF Investment Management.

PAREF is a SIIC real estate company, listed on compartment C of Euronext Paris - FR0010263202 - PAR
More information on www.paref.fr

Contacts

info@paref.com
Phone. : 01 40 29 86 86

Press contact
Citigate Dewe Rogerson
Alexandre Dechaux / Hugo Boussier
07 62 72 71 15/06 66 41 01 22
Paref@citigatedewerogerson.com

[1] Excluding recovered expenses, excluding Gaia consolidated by the equity method