Batipart Immo Europe

After leading and supporting Eurosic’s development since 2011, Batipart sold its entire stake in Eurosic to Gecina in June 2017 to create Europe’s No 1 office real estate company. As part of this transaction, Batipart retained the so-called “diversification” assets in Eurosic’s leisure and health sectors. Batipart is also keeping most of the management team set up many years ago as a basis for redeployment of Batipart’s real estate activities in Europe, with the creation of an unlisted platform: BATIPART IMMO EUROPE.

This redeployment is followed by a diversification, in particular with the acquisition of assets from Eurosic’s portfolio assets in the leisure and health sectors, and then of office buildings in the provinces in 2018. In 2020, Batipart fostered the diversification with the acquisition, for more than €500m, a pan-European portfolio of do-it-yourself distribution assets leased by Leroy-Merlin and Bricoman, supported by the setting-up of a partnership with Adeo Group, which started with this sale&lease back deal.

All these assets under management represent nearly EUR 4 billions spread over seven countries as at end 2020. Our team is composed of about sixty people through five locations on the European territory: Luxembourg, Madrid, Milan, Paris and Toulouse. The team brings together all the real estate expertise in order to enhance the assets under management.

With this new experience and endorsing the same values, Batipart starts a new chapter in its real estate history along with long-term partners, and bases its strategy on two pillars :  yielding strategy and value creation strategy.

➢ Yielding strategy

Leisure and Healthcare

Through these long-term investments secured by long-term leases, Batipart provides support for its tenants as they expand across Europe in order to create value and secure their long-term future in the facilities they operate.

The portfolio is secured by long-term leases (average lease term over 10 years) signed with top-tier tenants, leaders in the Leisure and Healthcare sectors, such as Club Med, Pierre & Vacances,, Center Parcs.

In 2019, Batipart continued on diversification by acquiring 3 hotels via a sale&lease back operation with B&B Hotels in Italy and delivering of Club Med Alpe d’Huez after a full refurbishment.

Offices

The office portfolio in the provinces hold through Batipart Régions is concentrated in a few of the big regional cities (Nantes, Toulouse, Montpellier, Marseille, Nice). 

The portfolio is composed by more than 20 assets at end 2020 with a diversified tenant base of 150 leases. The rental base and locations are diversified, making for a resilient portfolio.

Distribution

Batipart acquires a sale&lease back portfolio from Adeo Group, international leader in the home improvement and distribution of do-it-yourself products industry, who will retain 20% of the newly created structure, Alma LMB.

The portfolio, consisting of 42 stores in four countries (France, Spain, Italy and Portugal), is fully let to Leroy Merlin and Bricoman brands and represents a total surface area of more than 400,000m² secured by long-term leases.

  • C. € 3 Mds of assets under management
  • 5 co-investment vehicles (under BILT plateform)
  • Presence in France, Switzerland, Spain, Portugal, Germany, Italy,
  • Target yield of 7%

➢ Value creation strategy

Batipart Développement: a vehicle for promoting offices in Paris and inner suburbs.  Batipart develops real estate assets in the offices sector, pursuing a valuation objective: sourcing, acquiring the assets (land consolidation, buildings acquisition, research of additional constructability), arranging transactions, obtaining administrative authorisations, designing and building the assets, right up to leasing the buildings and, finally, selling them on.

  • Investment capacity of € 1 bn with approx. € 250 M committed
  • Vehicle dedicated per project
  • Target IRR of 12%

Batipart Participations: a vehicle for acquiring holdings in European listed companies, offering a diversified exposure in the European listed real estate sector, to benefit from markets volatility to spot attractive points of entry.

  • Investment capacity of € 74 M
  • Target yield of 8%

Batipart Immo Europe

4-6, rue du fort Rheinsheim
L-2419 Luxembourg

+352 27 35 13 1001