Press releases


  04/28/2020 6:00 PM

Press release

Paris, April 28, 2020


Consolidated turnover

  • The consolidated turnover of the PAREF Group amounted to € 10.3 million for the 1st quarter 2020. It consists of:
    • Gross rental income up by 20% thanks to the acquisition of floors in the Franklin Tower, offset by the disposals made in 2019 and the impact of the restructuring project The Go;
    • Management fees up by 31% due to the increase in assets under management of funds managed on behalf of third parties and in particular income from the PIM Italy platform acquired in 3th quarter 2019;
    • Subscription fees down by 21% from & #39; a marked slowdown in fundraising in the context of Covid-19.
Turnover (in € m)1 03/31/2019 03/31/2020 Evolution in %
Gross rental income[1] 1.9 2.2 + 20%
Commissions (management and subscription) 9.0 8.1 - 10%
- of which management fee 1.9 2.5 + 31%
-of which subscription commission 7.1 5.6 - 21%
Total 10.8 10.3 - 4%

Highlights of activity in the first quarter of 2020

  • PAREF continued to actively manage its assets and in particular:
    • Signed a new lease on the Gaïa building in February 2020 on an area of 1,751 m² and with a firm period of 9 years. The occupancy rate of this asset is now increased to 64%;
    • Signed the final sale of 3 assets held by PAREF located in Meythet, Saint-Etienne and Thyez on April 2, 2020 for a total net seller amount of more than € 3 million, i.e. in line with the last appraisal value.
  • The management activity on behalf of third parties shows gross inflows of € 57 million in the 1st quarter 2020, mainly on the Novapierre Germany 2, Interpierre France and Novapierre Résidentiel SCPI funds. A significant slowdown in collection was observed from mid-March 2020, explained by the impact of Covid-19.

"L & #39; activity of 1st quarter 2020 confirms the resilience of the PAREF Group model in this particular economic environment. All of the measures taken by the Group have made it possible to protect our employees and guarantee the continuation of our activities and services to our customers and shareholders. It is with all of the Group's employees, whom we warmly thank for their daily commitment, that we will continue to deploy our strategy and thus limit the impacts of Covid-19. "

Antoine Onfray - Deputy CEO

Financial Agenda

May 7, 2020: combined general meeting

July 31, 2020: half-year results

About the PAREF Group

PAREF is developing in two complementary activity sectors: (i) investment through the real estate company SIIC PAREF mainly in real estate for companies in the Paris region (€ 0.2 billion in assets as of December 31, 2019) and (ii ) management on behalf of third parties through PAREF Gestion (€ 1.6 billion of funds managed as of December 31, 2019), a management company approved by the AMF and PAREF Investment Management (€ 0.4 billion as of December 31, 2019).

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

More information on


Antoine CASTRO Antoine ONFRAY

Managing Director Deputy Managing Director

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

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

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