The PAREF Group announces that it has finalized the signing of a management contract for the “Trade” office building, with an area of 29,000m
2
, located in Frankfurt am Main in Germany. Located 5 minutes from the central station and 15 minutes from the airport, the “Trade” building is strategically located in downtown Frankfurt.
Initially built in 2002 for Commerzbank, the “Trade” asset was acquired by the Fosun Group with the ambition of restructuring it and adapting it to the best market standards, and in line with PAREF’s ESG strategy, which aims to integrate the issue of sustainability in the design and construction phases. This building, whose delivery is scheduled for 2025, will be managed by the PAREF Group on behalf of the Fidelidade insurance company. It will develop more than 29,000 m² of offices meeting the highest demands of end users.
The PAREF Group thus continues to strengthen its expertise in the management of restructuring and development projects for large and complex assets. This is the second large asset managed by the teams, after the “The Medelan” building located in the center of Milan in Italy. Thanks to the renewed support of the Fosun Group, the majority shareholder, this new project enables the PAREF Group to accelerate the development of its management activity on behalf of institutional third parties.
“The FOSUN group is very happy to support the PAREF group, a 360 ° real estate group, a key member of the Fosun ecosystem with proven expertise and the ability to carry out large projects. The “Trade” asset is an iconic building in Frankfurt and we are excited to lead its renaissance together. ”
Elvis Liu Mingtao – Co-President of Fosun Hive
“The PAREF Group continues to obtain new mandates in order to consolidate its global strategy across Europe by creating long-term income for its shareholders. We are delighted to deploy our expertise in asset management, particularly for large-scale assets in central and dynamic cities such as Frankfurt. ”
Antoine Castro – Managing Director of the PAREF Group
Financial calendar
February 17, 2022: 2021 annual results
About the PAREF Group
PAREF is a real estate company listed on Euronext, which manages € 2.4 billion of assets in Europe, on behalf of third parties through PAREF Gestion, a management company approved by the AMF and PAREF Investment Management.
PAREF is a SIIC real estate company, listed on compartment C of Euronext Paris – FR0010263202.
More information on www.paref.com
About Fosun
Fosun was founded in 1992. Fosun’s mission is to provide high quality products and services to families all over the world in the fields of health, happiness, wealth and smart manufacturing. Fosun International Limited is an innovation-driven global consumer group that has been listed on the Main Board of the Hong Kong Stock Exchange (stock code: 00656.HK) since 2007, with total assets of RMB 778.9 billion (approx. US $ 120.6 billion) as of June 30, 2021. Fosun International ranks # 459 on the Forbes Global 2000 2021 list.
About Fosun Hive
Fosun Hive is the global fund management arm of the Fosun Group with platforms and offices in over 11 locations. It is a leading fund manager with approximately $ 12.5 billion in assets under management outside of China in industries such as office, hospitality, residential and logistics. In China, Fosun Hive manages over CNY 3.8 trillion (approx. USD 58.7 billion) in assets under management
Press contacts
PAREF Group
Samira Kadhi / Mélissende Debarge
07 60 00 59 52/07 60 00 59 62
[email protected] / [email protected]
Citigate Dewe Rogerson
Tom ruvira
07 60 90 89 18
[email protected]
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