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Press Releases 2019

Principal and PAREF Gestion strengthens their partnership with the launch of Novapierre Allemagne 2

NEWS, PRESS RELEASE, 2019

Principal Real Estate Europe and PAREF Gestion, the French AIFM are pleased to announce their continued partnership with the launch of the SCPI Novapierre Allemagne 2.

This is the second fund in the SCPI Novapierre series of funds which provide institutional and private investors in France with access to returns from core+ retail assets in Germany.

Guillaume Masset, Head of Transactions and Asset Management Europe, at Principal Real Estate Europe, commented: “We are delighted to be partnering once again with PAREF Gestion, having already completed the acquisition of more than 50 properties together for the first fund, Novapierre Allemagne I.

“This partnership is the perfect illustration of the DNA of our pan-European investment management platform, which offers cross-border solutions to our clients and a hands-on management approach.”

Anne Schwartz, Managing Director of PAREF Gestion, commented: “As part of our strong growth, we are proud to launch Novapierre Allemagne 2, our second fund dedicated to retail real estate in Germany. We are extremely confident that Paref Gestion’s 28 years of experience investing in real estate, as well as Principal’s in-depth knowledge of the German market, will enable us to make Novapierre Allemagne 2 a successful fund.”

Ole Sichter, Head of Transactions Germany for Principal Real Estate Europe, commented: “With one of the lowest rates of unemployment and highest per capita levels of purchasing power in Europe, the fundamentals supporting the German retail real estate sector remain strong, especially for retail warehouses.

“With Novapierre Allemagne II, we will work closely with PAREF Gestion to employ the same bottom-up approach to asset selection as we did for the first fund, targeting regions across where the underlying economy supports the income streams from high quality retail assets.”

 

Principal contact for further information:

  Guillaume Masset

Principal Real Estate Europe
+33 1 40 15 53 00

masset.guillaume@principalreeurope.com

INTERNOS contact for further information:

Arne Degener,

Tavistock
T +44 (0)20 79203150

james.verstringhe@tavistock.co.uk

Notes for editors:

Principal Real Estate Europe
Principal Real Estate Europe is part of Principal Financial Group’s dedicated real estate business, Principal Real Estate Investors, which manages or sub-advises $82.8 billion1 in real estate assets globally.

The group’s real estate capabilities cover all four quadrants encompassing public and private, equity and debt investment solutions.

In Europe, Principal Real Estate Europe operates from offices in London, Frankfurt, Amsterdam, Paris, Lisbon, Luxembourg, Madrid and Milan, employing more than 100 staff who manage real estate across all asset classes in nine different countries.

 Principal Global Investors
Principal Global Investors® leads global asset management at Principal®. As a multi-boutique firm, we bring a focused perspective and offer expertise across a host of asset classes.

At our core, we are driven by our purpose to help investors and businesses achieve their financial goals. Our global investment professionals deliver investment solutions for public and private pension funds, foundations and endowments, central banks, insurance companies, sub-advisory arrangements, sovereign wealth funds and individual portfolios.

Principal Global Investors manages approximately $451.7 billion1 in assets on behalf of over 800 institutional clients located in over 80 countries as well as retirement plans and individual clients, reflecting our worldwide market reach and experience and our commitment to high-quality research and service (as of June 30, 2019).

To find out more, visit us at principalglobal.com.

1As of June 30, 2019

PAREF Gestion

PAREF Gestion is a French leader in real estate investment and  fund management, regulated by AMF. It creates and manages SCPIs and OPPCIs (funds in offices, retail, residential and leisure real estate buildings).
PAREF Gestion is a subsidiary of PAREF, listed on the Euronext Paris Stock Exchange.
As at June 30, 2019, PAREF Gestion managed on behalf of third parties €1,656 Mn funds under management.

 

 

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