Primonial REIM launches an accommodation facility for students and young professionals in the heart of Greater Paris in Bagneux (92), Managed by Nexity Studéa

Primonial REIM announces the launch of a newly-completed accommodation facility for students and young professionals on behalf of its real-estate funds SCPI PRIMOVIE. The facility, managed by Nexity Studéa, was completed in September 2020, and is located in the heart of Greater Paris, in the town of Bagneux (Hauts-de-Seine department).

Primonial REIM announces the launch of a newly-completed accommodation facility for students and young professionals on behalf of its real-estate funds SCPI PRIMOVIE. The facility, managed by Nexity Studéa, was completed in September 2020, and is located in the heart of Greater Paris, in the town of Bagneux (Hauts-de-Seine department).

This development, created as part of an urban and architectural partnership with the local council, demonstrates Primonial REIM's ability as an Asset Manager to manage and successfully complete property development operations that combine urban integration and value creation.

The building complex features residential accommodation comprising 198 modern, functional, fully furnished apartments covering a total area of 4,900m2 over 11 floors, along with a 1,200m2 gym and parking spaces.

The facility, operated by Nexity Studéa under a long-term commercial lease, opened its doors in October. In addition to the services typically offered in student halls (cleaning, laundry, linen rental, breakfast service, communal areas), Nexity Studéa's accommodation will offer an extended and digital range of services to improve residents’ day-to-day well-being: unlimited ultra-high-speed internet, a digital lobby, smart lockers from 2021, an internal app enabling students to interact with one another or the Studéa teams, and also to book services within the facility or the local area. Residents will also benefit from a rich and varied programme of events (sports and cookery lessons, etc.), a mental health support service and awareness-raising workshops (budget management, healthy eating, road safety, etc.).

The facility is located in the heart of the Greater Paris region, in Bagneux (Hauts-de-Seine department), in the Victor Hugo ZAC mixed development zone, bordering the Vache-Noire service sector district in a fast-growing mixed eco-neighbourhood. The facility's transport links will be improved by the arrival in 2021 of the Line 4 metro extension to Bagneux and, from 2024-2025, the forthcoming Grand Paris Express Line 15.

Primonial REIM Board Chairman Grégory Frapet said: “This accommodation facility for students and young professionals in the heart of Greater Paris demonstrates Primonial REIM's desire to provide young people with access to housing and services tailored to their needs, and also to deliver transparent long-term income to its investment clients through a long-term lease with Nexity Studéa, a key player in the student accommodation sector in France. ”

Primonial REIM has been assisted in this initiative by Leclercq Associés as prime contractor, Eiffage Construction Résidentiel as general contractor and THEOP as delegated contracting authority.

About Primonial REIM

Primonial Real Estate Investment Management (Primonial REIM) is a portfolio management company that was authorised by the Autorité des Marchés Financiers (AMF) in 2011. Its purpose is to design and manage a range of investment vehicles that reflect its strong convictions about the real estate markets. Its aim is to make SCPI real-estate funds – investing in office, retail, healthcare/education and residential properties – available to the widest possible audience.

As a portfolio management company, Primonial REIM creates and manages real estate collective investment undertakings for institutional and retail investors. On 10th June 2014, Primonial REIM obtained AIFM (Alternative Investment Fund Manager) authorisation from the AMF, under which it is subject to increased obligations in areas such as reporting, liquidity monitoring and risk management when managing alternative investment funds. Its Management Board consists of Grégory Frapet, Chairman, Stéphanie Lacroix, Managing Director, and Tristan Mahaut, Secretary General.