| Paref Gestion,
a PAREF subsidiary accredited by the AMF (the Financial Markets
Authority), manages three real estate investment trusts (REITS)
: Pierre 48, a REIT based on occupied dwellings, specifically
under the provisions of the Act of 1948 (capitalisation on 31/12/09 : € 211,5M), Novapierre 1, a shop premises REIT (€ 52,7M),
and Interpierre, an office REIT (€ 5,2M).
It’s managed by Thierry GAIFFE.
Thanks to its expertise on the commercial property market,
PAREF Gestion is entrusted with the creation and management of
dedicated funds on behalf of French and foreign investors.
PAREF Gestion manages three real estate investment trusts (REITS)
and acts as manager for foreign investors ( Shelbourne Development).
The PAREF Gestion real estate investment trusts should continue
to record rapid growth. PAREF Gestion will suggest to their partners
that they opt as soon as possible for the less restrictive
status of Undertakings for Collective Investment in Real Property.
Aside from this issue, management activities on behalf of
foreign investors will be pursued and further developed.
For all acquisition, the Company has set up appropriate structures
suitable for its size and activities in order to apply current
enterprise governance measures.
Rules of procedure for the Supervisory Board have been put
in place, along with an Audit Committee per structure.
The Committee :
Offers
the Board of Directors advice on all investment projects,
also authorises the disposal of assets,
Assists
the Board with accounting, administration, legal affaires
and risk management,
Appointments
and remunerations committee,
Supervises
the position of the corporate representatives and directors
of the Group.
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