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PAREF Gestion

PAREF

PIERRE 48

NOVAPIERRE 1

INTERPIERRE

STRATEGY

DEDICATED FUNDS

TEAM

CONTACT

Management on behalf of third parties

- A shop premises REIT

- Capitalisation on 31/12/07 : €48,2 M

The freehold issue price stands at €410 since 01/01/2008

- Overall performance of 75% since the outset with an internal rate of return of 11%