Real Estate · 03
Repositioning
Heavy refurbishment and change of use to unlock latent value in under-managed assets.
18 – 36 months
Typical duration
Permis de construire / déclaration préalable
Permits
Value-add returns
Target uplift
HQE, BREEAM, DPE
Certification
Overview
About Repositioning.
We identify assets whose potential is constrained by obsolete layouts, poor energy performance or unsuitable use, and reposition them to meet current market demand.
Programmes include full refurbishment, conversion of offices to residential and upgrading of building certifications.
- Change of use and planning permits
- Energy-performance upgrades
- Conversion of offices to residential
- Certification (HQE, BREEAM)
Financial Overview
Activity and allocation.
Capex deployed (€m)
Real Estate allocation (%)
- Residential 42%
- Office 28%
- Mixed-use 15%
- Hospitality 10%
- Other 5%
Year-on-year growth (€m)
Indicative figures for illustration purposes. Past performance is not indicative of future results.
Legal & Regulatory Framework
Governed by clear rules.
Code civil & Code de la construction
Acquisitions are executed by notarial deed (acte authentique) and comply with French civil and construction law.
Loi Hoguet & AMF framework
Intermediation and collective investment activities are carried out within the applicable French regulatory perimeter.
Décret Tertiaire & EU Taxonomy
Energy-consumption reduction obligations for commercial buildings and alignment with EU sustainable finance rules.
AML / CFT — Code monétaire et financier
Full know-your-customer and anti-money-laundering checks on every counterparty, per articles L.561-1 et seq.
Risk Management
Risks identified and controlled.
| Risk | Mitigation |
|---|---|
| Market risk | Mitigated through prime locations and conservative entry valuations. |
| Leverage risk | Loan-to-value capped and hedged against interest-rate movements. |
| Tenant risk | Diversified tenant base and rigorous credit review. |
| Regulatory risk | Continuous monitoring of planning, tax and energy regulation. |
Legal Notice
This page is provided for information purposes only and does not constitute an offer, solicitation or recommendation to buy or sell any financial instrument or to enter into any transaction. Any engagement is subject to contractual documentation, satisfactory completion of KYC / AML procedures in accordance with articles L.561-1 et seq. of the French Code monétaire et financier, and the approval of the relevant banking institutions. Holding JMB SARL — RCS Paris 528 403 074.