2021, a year full of projects for the MIMCO group

The end of the year means an activity overview! Once again this year, and despite the many hectic months due to health events, the MIMCO Group is witnessing the fluidity and sustained dynamism of the real estate market and looks back on the key events that marked out its year 2021.

The year 2020 had already been successful for the group's real estate in the midst of the pandemic, confirming the investment strategies of each fund signed by MIMCO Capital. As for 2021, it will have been particularly stimulating with the milestone creation of MIMCO Asset Management in Paris in May 2021, a subsidiary of MIMCO Capital and a portfolio management company approved under the AIFM directive by the AMF.

In parallel to this defining fact, important achievements have been made, maintaining the group's dynamism and marking a relentless activity:

  • 2 French-registered funds were launched under the leadership of MIMCO Asset Management, both of which carry the SRI label for socially responsible investments:

    o The MIMCO Grand-Ducal fund, in July 2021, for real estate development in the Grand Duchy of Luxembourg;

    o The MIMCO Revitalize fund, in November 2021, focusing on real estate revitalization in Germany.
  • 3 club-deals have been set up, two in Luxembourg and one in France for large assets:

    o A new property in the Sanem business park, with the objective of developing a mixed-use complex of warehouses/storage and offices;

    o A property located in the town of Strassen, west of the Luxembourg capital, with the aim of developing a group of residential buildings;

    o An office complex in the commune of Courbevoie, two kilometers from the French capital, with the aim of renovating it and building an extension to accommodate a school.
  • Throughout 2021, 8 acquisitions were completed in strategic locations, including 4 in Luxembourg (Sandweiler, Bridel, Kohlenberg and Bascharage), 3 in Germany (Bad Salzungen, Haldensleben and Weisswasser), and 1 on behalf of the French fund MIMCO Grand-Ducal (Senningerberg).
  • These investments are divided between Core assets (11%) and Value-Added assets (89%), reinforcing the Group's Value-Added strategy of investing in assets with strong valuation potential. The 2020 ratio was 35% for Core assets and 65% for Value-Added assets.
  • The group continues to structure itself with the recruitment of 9 employees, the majority of whom are in strategic positions, mainly in France and Luxembourg: in May, the Managing Director and Partner of MIMCO AM joined the group, followed by its Fund Manager. The French office was then joined by a Senior Asset Manager and, at the end of the year, by the French Sales Director. As far as appointments for the Luxembourg office are concerned, a Senior Fund Accountant and a Back-Office and Legal Officer started at the beginning of the year, followed by a Finance Manager, a Real Estate Director and a Sales Manager in the last quarter of 2021.
  • 3 assets in Germany were sold (Alsfeld, Magdeburg, Zweibrücken) throughout the year, at sale prices exceeding the initial disposal targets.
  • 18 new leases were signed, mainly on assets in Germany, with well-known brands such as KIK or Woolworth, generally for long-term firm leases.

We would like to thank all our partners, shareholders and employees for their unfailing commitment and confidence and look forward to an update on the MIMCO Group's 2021 real estate indicators in January 2022!

MIMCO Capital S.à r.l. headquarters
Address: 26 Boulevard Royal
L-2449 Luxembourg
Tel: +352 2 799 3281
MIMCO Asset Management GmbH subsidiary
Address: Grolmanstrasse 36,
10623 Berlin
Tel: +49 30 810 5661-0
MIMCO Asset Management S.A.S. subsidiary
Address: 87 Boulevard Haussmann
75008 Paris
Tel: +33 1 44 70 04 36
Access to MIMCO Asset Management website