REAL ESTATE
The Real Estate team is investing in real property assets (value-add, core and separate accounts). The team has strong asset and development expertise to transform assets of all sizes.
Our investment strategy Value Add
The WREP#3 fund is fully invested. Its approach has consisted in selecting, within the Paris market, obsolete assets with prime locations that no longer meet occupier expectations and have lost all liquidity, and transforming them into contemporary assets.
Our value-add investment philosophy rests on three pillars: a strong investment culture, a repositioning expertise rooted in a deep understanding of occupier needs, and a unique vision developed for each individual asset.
In February 2023, the fund was awarded the ISR label (French Socially Responsible Investment certification). As such, every project we study must meet ESG criteria either in its core real estate fundamentals or through the refurbishment works we undertake.
Once transformed, all our assets are fully aligned with current occupier expectations, capitalising on exceptional rooftop spaces with outstanding views, wellness-focused amenities (gym, cafeteria, etc.), and more.
Our investment strategy Core
As part of our core operations, we have developed the senior residences business as a long-term investment. This strategy is extending across the country as investment opportunities arise.
Our OPPCI, Capital Pierre Seniors Services, represents 75 million euros of equity.
Our OPPCI comprises a total of four senior residences. They are located in Marcq-En-Barouel (Hauts-de-France), Melun (Ile-de-France), Rueil-Malmaison (Ile-de-France) and Vannes (Bretagne).
A new product with core strategy is currently under consideration to meet the demand facing new real estate challenges.
Our investment strategy Separate Accounts
In the separate accounts business, we develop and manage assets on behalf of third parties. This strategy consists of meeting the needs of clients who have approached us with a specific issue, and offering them assets that match their strategy. Depending on the project, we also execute business plans.
Approach Understanding tenant requirements
Current real estate market conditions are directing us towards the creation of club deals targeting undervalued core assets, enabling swift value arbitrage following improvements that do not require heavy capital expenditure.
Investment criteria Rigorous approach to entry values, no compromises when it comes to real estate fundamentals, with a focus on liquidity
Our investment culture leads us to be extremely selective, with a focus on value at the time of acquisition, without ever losing sight of the asset’s liquidity. There are a number of key factors contributing to the success of our acquisitions: a strategy targeting a limited geographic area, a large network of institutional investors and private family offices, credibility, reputation and responsiveness, to name just a few.
Understanding the reasons behind the obsolescence of certain buildings helps us acquire value and put in place a specific repositioning vision to ensure the return to liquidity. Our strategy is therefore resilient and highly effective for our investors in the event of a positive cycle.
Our ties with the company’s private equity teams, and their expertise in LBO and impact investing, also means that we can unlock synergies and effectively analyse “opco/propco” opportunities (separating the property asset from the trading business by transferring the former to a property holding company that leases it back to the operating company).
Investment criteria A necessary vision and active management
Our investors place their trust in us due to our ability to source deals outside the market, execute complex repositioning projects and enlist the services of skilled professionals. As experts, we never compromise when it comes to real estate fundamentals. A specific analysis is carried out for each project, involving a “product” vision, a tailor-made marketing strategy and the determination of the appropriate ratio between the cost of works and the return on investment. Our reputation and track record of achievements strengthen our ties with all decision-makers.
Our active management is always in-house and involves our discretionary funds as well as the separate mandates under which our investors are able to take advantage of our expertise and investor culture. In this regard, we offer a combination that is without equal in the French market.
At the same time, as an asset management company approved by the Autorité des Marchés Financiers (AMF, the French securities regulator), our multi-sector expertise positioning give us a deep understanding of key macroeconomic trends.
ESG best practices
– Environmental certification: BREEAM Very Good
– Quality of life at work label: OsmoZ (Certivéa)
– WiredScore digital connectivity certification
– Environmental certifications: BREEAM Very Good, Bâtiment Basse Consommation
– Quality of life at work label: OsmoZ (Certivéa)
– WiredScore digital connectivity certification
In brief Investment profile
| TARGET ASSETS | Office space, residential properties, logistics facilities, hotels, retail space, mixed-use projects, etc. |
|---|---|
| SPECIALIZATION | Restructuring and repositioning |
| GEOGRAPHICAL FOCUS | France |
| TARGET INVESTMENT SIZE | Between €20 million and €100 million |
Photo credit: @Schnepprenou
