REAM: your Luxembourg real estate investment fund

Notre démarche

Our approach is rigorous. Our results targets, which are above market practices, stem from a rigorous analysis, significant commercial involvement and a high degree of selectivity.

On average, less than 5% of the dossiers we study are selected and acquired.

Our multidisciplinary team offers a wide range of complementary skills. Our employees have up to 20 years’ experience in their field of expertise. We perform financial analyses, investment management, sales, rental management and technical maintenance.

LETTRE AUX ACTIONNAIRES

The performance of the REAM fund for the financial year ending 31/12/2019 was 7.85% net of management costs.

This performance is not speculative; it is essentially due to the quality of our rental portfolio and the performance of the development projects sold.

The rental portfolio generated €641,000 in gross rent for an occupancy rate of 99%. It should be noted that our investment strategy in the co-living sector, with our brand Flexiroom, is extremely effective and is a response to very high market demand.  The opening of our third Luxembourg co-living residence in November was one of the Fund’s major events in 2019.

For the “development” aspect of our business, the fund was positively impacted by the end of the marketing of the Résidence Le Lorrain in Arlon, whose 32 units will be delivered to buyers in March 2020. The recognition of the profit at the end of the project is always greater than in the first few years of marketing.

To summarise, the rental portfolio is currently affecting 2019 performance to the tune of 56%, asset revaluation 24% and development projects 20%.

It should be noted that the ratio between the yield portfolio and development projects is currently 80/20, and the Fund would like to achieve a balance of 50/50 between its two areas of activity.

And in the future…

There is no doubt that we remain convinced that a risk balanced between rental projects and projects intended for sale offers an optimum yield/risk combination in the real estate sector.

We are continuing to invest in studies of new projects. We hope to develop two residences perfectly located in the heart of the city, the first in Bastogne with a total of 41 apartments and the second in Namur with a total of 32 apartments and shops. We are also developing projects in Arlon, Marbehan and Marche-en-Famenne that will impact financial years starting in 2021.

In terms of rentals, we want to expand our Flexiroom offer in Luxembourg City, of course, where we believe that demand does not always find the supply it needs, but also outside the Grand Duchy, for example in Brussels, where we are attracted by the economic diversity, our knowledge of the market and the high demand.

We remain opportunistic in our other rental segments, such as local shops (we rented out our three shops within the Le Lorrain Résidence very quickly) and in medium-sized offices such as those already present in the Fund (Pagosa building in Strassen).

There are many investment opportunities, but the market, which is dominated by sellers, remains tricky in terms of good business deals, and we remain more attentive than ever to respecting our very restrictive and demanding investment constraints in the area of yields.

Jean-Marc Dame

Manager

The Manager

Jean-Marc Dame

Jean-Marc has more than 20 years’ experience in the financial sector in Luxembourg, in particular the investment fund sector.

As well as his consultancy work in this area, in 2008 he founded Trimmo, a Belgian company that develops residential renovation projects and manages a diverse rental portfolio – local retail, residential and semi-industrial. Convinced of the need to adapt the offer to rapidly changing living and working contexts, he also co-founded Silversquare, a pioneer in co-working (bought by Befimmo in 2018).

He founded REAM in 2017 with the aim of putting his knowledge of the Luxembourg financial market and his passion for real estate to use in the investment sector.

REAM : votre fonds d’investissement immobilier luxembourgeois

The Co-Manager

Mandela

After 10 years in an advisory role in the banking sector, in consultancy and management positions, Mandela Verdeau launched the REAM fund with Jean-Marc Dame.

Mandela is in charge of the management and development of Flexiroom coliving portfolio.

She is a graduate of the EDHEC Business School, and has a MSc in Strategy and a Masters in Management.

REAM : votre fonds d’investissement immobilier luxembourgeois

The Board Members

Jean-Pol Clart

Jean-Pol Clart, an independent entrepreneur at heart, took part in the development of several companies, mainly in the service, construction and real estate sectors.

Founder of the DEVLOP brand, he is passionate about real estate and the challenge of anticipating and adapting products to the rapidly evolving society.

Tony Buche

Tony Buche began his career in 1992 in various Fintech company and he spent 10 years at Clearstream as Strategic Project Manager and 10 years at SocGen Luxembourg where he headed the investment funds custody services. Since 2015, Tony has taken multiple Independent Directorship mandate in regulated and non-regulated funds, such as Real Estate, Private Equity and Hedge funds. Tony is also providing advisory services for funds and Management Company across Europe.

Jérôme Gendarme

Jérôme Gendarme began his career in 1994 at JP Morgan London in investment fund services and spent 12 years at the Bank of New York in Brussels as a Vice President managing various banking operations and projects. He then moved to Luxembourg to join KBL European Private Bankers as head of the custody and depository bank division. He also led a major IT transformation project for private banking and asset management in Paris, Brussels and London. In particular, he was involved in the business development of private banking services.

Currently, Jérôme is in charge of custody services at CBP Quilvest Luxembourg, for alternative investment funds such as real estate funds, private equity funds and hedge funds. He brings a wealth of experience in investment banking, portfolio management and alternative investment funds.

The management team

We have built an experienced, multi-disciplinary team around the Management Board. Our employees have an average of ten years’ experience in their field of expertise. Internally, we cover financial management and risk management activities, the technical management and monitoring of projects, business development for chasing new opportunities and the sale of our dossiers, and property management. We have selected our partners with the utmost care and they share our vision and values. At REAM, we value creativity, enthusiasm and a love of work well done. Our projects are designed and developed in accordance with standard practices and with great attention to detail.

The Technical Department

Vincent Ferbus

Vincent joined the REAM Group in 2018 as Technical Director. Within his position, he ensures that developed projects meet our quality requirements.

As a civil engineer, Vincent is in charge of DEVLOP’s promotion projects, from the development phase until delivery. He devoted his energy to coordinating our external partners to ensure that projects are successful and meet the defined standards.

With a Masters in Civil Engineering, Vincent guarantees the modernity, connectivity and innovation of our projects.

REAM : votre fonds d’investissement immobilier luxembourgeois

Gilles Willems

After 10 years of experience in the construction sector in various fields, be it in the restoration of listed buildings or for large real estate developers, Gilles joined the REAM group in October 2021 as technical project manager.

Holder of a Master’s degree in Industrial Engineering, Gilles is mainly involved in the execution of DEVLOP projects in order to ensure the technical and operational follow-up of the projects. Under the supervision of the technical management, Gilles is the guarantor of the quality of our projects and the follow-up provided to our future buyers and investors.

The Financial Department

Samuel Hannay

Samuel Hannay joined the REAM group in 2018 as financial and administrative director. He is in charge of financing various projects for the entire group, internal control as well as all administrative and tax aspects.

Samuel acquired his first professional experience in Belgium in the field of engineering and the development of calculation software for aerospace applications before becoming a financial auditor for a large American group in Luxembourg.

Samuel holds a master’s degree in management science and a master’s degree in audit, control and review from the University of Liège. He is also a civil engineer in electromechanics from the University of Liège.

Samuel Hanay

Amélie Thomas

After 3 years of experience in a fiduciary and 2 years in a large company as an accountant, Amélie joined the REAM group in 2020

Amélie Thomas

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