Consolidated turnover
The PAREF Group's consolidated turnover reached €20.9m as of September 30, 2021. It consisted of:
- Rental income: €5.9m (-15% compared with the same period in 2020), following sales achieved in 2020 and the sale under progress of the Gentilly;
- Management fees: €8.1m (+9% compared to the same period in 2020), due to the increase in assets under management and the higher fees on assets disposals;
- Subscription fees: €6.9m (-38% compared with the same period in 2020), primarily as a result of the decision to temporarily suspend subscriptions to the Novapierre Allemagne 2 SCPI. Excluding Novapierre Allemagne 2, subscriptions increased by 22% on the other vehicles, notably Novapierre Résidentiel and Interpierre Europe Centrale. Gross subscriptions amounted to €74 million at the end of September 2021.
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