Paris, 21/09/2021
Ambitions and objectives:
- Become a European leader in real estate asset management
- Generate new real estate investment opportunities for its clients
The Primonial Group announces the creation of its pan-European real estate platform, Primonial REIM, established with the ambition of becoming a European leader in real estate asset management.
The creation of this pan-European platform will increase the visibility of real estate activities and allow the business to develop internationally by pooling skills and creating greater cross-functionality and business synergies between the various real estate entities of the Group.
Primonial’s real estate activities began in France through the Primonial REIM management company which was founded in 2011, and later in Europe with the acquisition of AviaRent management company in Germany in 2017, the establishment of the Primonial Luxembourg management company in 2018 and most recently, the creation of Primonial Italy in 2020.
Primonial REIM becomes the new name of the European real estate platform, grouping together the four management companies of the Group:
- Primonial REIM France,
- Primonial REIM Germany,
- Primonial REIM Luxembourg,
- Primonial REIM Italy.
Primonial REIM's Management Committee is made up of:
- Laurent Fléchet, Chairman of Primonial REIM
- Juergen Fenk, CEO of Primonial REIM
- Stéphanie Lacroix, Deputy CEO of Primonial REIM
Operating across the entire real estate value chain - investment, fund management, asset management and property management - Primonial REIM already represents €30 billion in assets under management, over 400 employees, 61 managed funds, more than 80,000 investor clients, a portfolio that spans nine European countries and a has strong presence in four key European markets through offices in France, Germany, Luxembourg and Italy.
By drawing on the local expertise of each management company and its knowledge of individual markets, Primonial REIM will benefit from greater proficiencies across all real estate asset classes, serving new growth and investment opportunities in Europe for all its institutional clients and individual investors.
Laurent Fléchet, Chairman of Primonial REIM commented, “With the creation of our pan-European real estate platform under a single brand, we are taking a new step forward to accelerate our development for the benefit of our clients. By bringing all four companies under one banner, investors, whether local or international, will have access to new real estate opportunities in Europe, by drawing on the expertise of local teams that share the same values and the same demand for quality in real estate acquisitions and in asset management.”
STRONG STRATEGIC AMBITIONS AT EUROPEAN LEVEL
With the goal of becoming one of the top 10 European asset managers, Primonial REIM intends to:
- Develop pan-European funds by asset class, dedicated to international institutional clients (Europe, Asia, Middle East) ;
- Strengthen its leadership in real estate savings in Europe with individual clients ;
- Pursue its club deals in Europe, in particular in office, health / education, residential and hotel real estate.
Primonial REIM will continue its conviction-based investment strategy:
- Retain the majority share of offices in its allocation and continue to position itself in core office assets within Greater Paris ;
- Remain the European leader in healthcare and education real estate, on behalf of individual and institutional investors seeking rental income secured by long leases and less exposure to economic cycles ;
- Accelerate its development in residential real estate in European cities driven by strong rental demand. This asset class, supported by favorable demographic trends, generates solid returns and long-term capital gains;
- Amplify its sector diversification through new asset classes such as hotels ;
- Strengthen its integrated ESG approach at each stage of the real estate value creation chain.
AN EXECUTIVE COMMITTEE FOR THE EUROPEAN REAL ESTATE STRATEGY
As part of the creation of this platform, Primonial REIM has set up an Executive Committee whose mission is to define the overall real estate strategy. This Executive Committee will be composed of:
- Laurent Fléchet, Chairman of Primonial REIM
- Juergen Fenk, CEO of Primonial REIM
- Stéphanie Lacroix, Deputy CEO of Primonial REIM and Managing Director of Primonial REIM France
- Grégory Frapet, Chairman of Primonial REIM France
- Peter Finkbeiner, CEO of Primonial REIM Germany
- Ronan Bodéré, Managing Director of Primonial REIM Luxembourg
- Fabrizio Bonavita, Managing Director of Primonial REIM Italy
Each management company will retain discretion within its scope of intervention.
About Primonial REIM
Primonial REIM brings together more than 400 employees in France, Germany, Luxembourg and Italy and applies its core values of conviction and commitment, as well as its expertise on a European scale, to design and manage real estate funds for its national and international clients, whether individual or institutional.
Primonial REIM has €30 billion in assets under management. Its allocation breaks down into: 50% offices, 32% health / education, 10% commerce, 6% residential, 2% hotels. The pan-European platform manages 61 funds and brings together more than 80,000 investor clients, of which 54% are individuals and 46% institutional. Its real estate portfolio is made up of more than 1,400 buildings (offices, health / education, retail, residential, hotels) located in nine European countries.
Edelman Smithfield Primonial REIM
+44 203 047 2546
rob.yates@edelmansmithfield.com
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