patrimoine et commerce

The group.

01 Presentation

Patrimoine & Commerce a property company dedicated to commercial real estate.

Listed on Euronext in Paris, Patrimoine & Commerce owns and operates a portfolio of real estate assets consisting primarily of recent retail areas, located on the outskirts and in the centres of medium-sized towns and cities around the whole of France. Made up of retail parks and city centre shopping malls, Patrimoine & Commerce’s assets are highly attractive, with occupancy rates that have been close to 100% for several years.

Centre Commercial Les Gains

Corporate brochure

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Plaquette Patrimoine & commerce

Strong development ambitions within a long term logic

Patrimoine & Commerce’s goal is acquire and develop commercial property assets based on selective investment criteria which combine dynamism with long-term vision:

  • High catchment areas
  • Visibility and accessibility of the locations
  • Quality of tenants
  • Local rental management
  • Attractive profitability rates

In line with its rapprochement with Foncière Sepric and relying on an already identified deal-flow, Patrimoine & Commerce’s ambition is to reach a value of 1 billion euros. At the same time, Patrimoine & Commerce is carrying out an arbitrage policy in relation to its asset portfolio which is illustrated by a gradual disposal of tertiary assets from the scope and arbitrage, in the medium term, of commercial assets that have reached maturity. This real estate strategy is based on a policy of secured and prudent financing of the assets.

Investing in values

02 Our actions

Discover the highlights since our creation

2008

  • Foundation of a listed investment vehicle specialising in commercial real estate: Harnessing the stock market as a growth tool / Control taken of the listed structure, Billon, in 2008 / Its restructuring into a real estate company under the Patrimoine & Commerce name

2009

  • Injection of 29 real estate assets to Patrimoine & Commerce of a total value of €163.7m

2010

  • Patrimoine & Commerce creates a governance structure with a Supervisory Board composed of many well-known figures, recognised commercial real estate professionals
  • €20m fund-raising from Banque Populaire Val de France (Groupe BPCE)

2012

  • Rapprochement with Foncière Sepric and the creation of the benchmark real estate company for managing Retail Parks with an asset portfolio of nearly €500m

2014

  • August: Stake taken in Predica (Crédit Agricole Assurances), an institutional reference player, of 20% for €47.4m
  • December: Issuance of a debenture loan for €30m – Euro PP

2015

  • Janurary: Integration of the Trimax portfolio + €28m
  • July: Merger-absorption of Foncière Sepric by Patrimoine & Commerce

03 Solid shareholders.

Shareholding structure

25,3%

20,5%

9,6%

8,4%

Patroime & commerce, centre commercial

6,5%

4,9%

4,0%

20,8%

04 Development strategy

The assets in which the property company invests must respond strategically to the 3 main challenges of the retail real estate of tomorrow:

1

New consumer habits and the search for the best prices.

  • Offer a large range of stores (one stop shopping)
  • Provide low cost real estate reflected in products at the right price
2

Stores that are increasingly selective in their choice of location.

  • Select the catchment areas that provide the best consumption flows
  • Reach a critical size for each retail park
  • Offer low real estate costs
3

Better control over shopping centre town planning and the preservation of city centre stores

  • Regain control over the peripheries of urban areas with well-structured and high-quality retail parks
  • Offer store names that complement the city centre stores
Palais des congres Antibes, Patrimoine & Commerce

Backed by a pipeline of well-defined projects of €270m over the next 4 years, Patrimoine & Commerce is targeting a portfolio of nearly one billion euros.

Patrimoine & Commerce page groupe

Patrimoine & Commerce is positioned on a clearly identified resilient class of assets: retail parks.

With its strong territorial base (Paris, Lyon and Rennes) and its proximity to local authorities, Patrimoine & Commerce is implementing a clearly defined development strategy:

  • In the short-term: optimise the managed portfolio (i) by reaching a critical investment size in each retail park and (ii) by increasing the density of retail parks to improve their marketability (store mix)
  • In the medium term: develop the portfolio by harnessing two complementary channels • Carrying out development work alone or with external partners • The networks of business referrers of the Group with coverage of the national territory
  • In the longer term: manage a high-quality portfolio and crystallise unrealised gains through the rotation of mature assets.
p&c