Despite the health and economic crisis, MIMCO Capital draws a positive balance sheet for 2020. On the agenda: Funds referenced in the Private Equity/Real Estate offer of AXA Wealth Europe, signature of the Principles for Responsible Investment and launch of its new OCITY fund for real estate development in Luxembourg. Even more strikingly, the group's real estate indicators attest to the fulfilment of its ambitions in terms of investment strategy, which were exceeded in 2019 and strengthened in 2020.
The MIMCO Capital group thus recorded in 2020 an acquisition volume of almost 76 million euros of real estate investments for more than 45.300 sqm of surface area and a collection of more than 38.5 million euros from its historical shareholders and new investors in Europe.
"These figures demonstrate the added value and expertise of our teams. Throughout 2020, MIMCO Capital's teams have continued to select assets and real estate operations located in very high-quality locations. The volume of transactions carried out over the last twelve months continues to grow and, since December 2020, has exceeded 300 million euros of real estate managed through our various structures," explains Bernd von Manteuffel, co-founder and CEO of MIMCO Capital.
In terms of investment strategy, the MIMCO Capital group has focused on assets with significant value-added potential through investments in buildings intended primarily for retail (at 62.06%) and office (at 19.60%) that are in need of major restructuring. The share of value-added assets increased in 2020, with 65% of the volume invested now being in value-added assets. Core operations accounted for 35% of the group's investments.
In addition, MIMCO Capital had announced a significant increase in its investments in Luxembourg for the year 2020. These reached 74% of the acquisition volume in 2020.
Christophe Nadal, co-founder and CEO of MIMCO Capital, added: "We have built a solid strategy to be able to expand rapidly in our core markets of Luxembourg and Germany. Our results have far exceeded our expectations and we intend to continue this momentum! We are now focusing on the French market, which also offers opportunities for our investors.”
Building on these results and their support throughout the real estate value chain in 2020, MIMCO Capital's teams remain focused on providing innovative investment solutions.
We would like to thank all our partners, shareholders and employees for their commitment and trust.