Consolidated Revenue as at March 31, 2023
The consolidated revenues of PAREF Group reached €9.0M for Q1 2023, down compared to Q1 2022 - which included exceptional items - and structurally higher than in 2021 given the positive trend in underlying assets.
This revenue consists of:
- Gross rental income of €2.1M, up +18%, mainly due to the new lease on The Go asset located in Levallois-Perret, which is now fully let;
- Gross management commissions amounted to €3.4M, down -25% compared to the same period in 2022 due to the one-off performance commissions in Q1 2022. Besides this, recurring management commissions increased by +6% thanks to 2022 investments for SCPI;
- Gross subscription commissions of €3.6M, compared to the same period last year, which should be analyzed in light of the distinguished fundraising in Q1 2022.
Revenues (in €Mn)1
Mar 31, 2022
Mar 31, 2023
Variation in %
Gross rental income
Commissions (management & subscription)
- o.w. management commissions
- o.w. subscription commissions
 Excluding recovered charges
Main events of the first quarter 2023
- PAREF Group presents a dynamic leasing activity for the Medelan asset, located in the historical center of Milan. As of March 31st, 100% of the office space and 43% of the retail space are let or under firm offer;
- PAREF completes the acquisition of a building combining laboratory and office space in Warsaw, Poland on behalf of SCPI Interpierre Europe Centrale;
- Third-party management activity reaches gross fundraising of €36M ;
- SCPI Interpierre Europe Centrale acquired the French ISR Labelling on January 24th. This second labelling, six months after Interpierre France, demonstrates PAREF Group's commitment to its "Create More" sustainable strategy.