Lokalis

Who

Founding partners, Yann Collandre and Yves-Emilien Pamart, established Lokalis in 2018, in order to invest long term in the Greater Paris residential market. They have a combined 25 years’ experience in Paris in the development, investment and management of real estate projects and companies.

What

Lokalis targets a solid and predictable long term return on investment, by acquiring, managing and growing a portfolio of Paris residential real estate.

The strategy is focused on four themes: (1) acquire assets in a strong global city with exceptionally deep demand; (2) benefit from game-changing improvements to the public transportation system; (3) target the stability and demand of rent-by-necessity housing for the middle class and (4) create market best-in-class property management and operating efficiency.

Where

The Greater Paris area is the territory of the world’s biggest infrastructure project underway: The Grand Paris Express automated transportation network which will double the subway network within the 2020-2030 timeframe and implies a €38bn investment. This will result in the most significant renewal for the city since the large-scale Haussmann program in the 1850s. The aim of the program is to reduce the concentration of economic activity in central Paris and develop the wider metropolitan area.

The platform’s geographical focus is the core urban area of the Grand Paris where most of the urbanization and economic growth is expected to concentrate in the coming decades. More specifically, Lokalis targets the areas with improvement potential linked to the Grand Paris Express which will provide inhabitants with improved accessibility and proximity to jobs.

Why

Greater Paris is the number 1 beneficiary in Europe from increased urbanization and job concentration. It benefits from positive demographic and geographic tailwinds. While the population is expected to grow to 13mn in 2030 from 12mn today, the increasing house prices and job mobility are pushing new generations to rent rather than own.

The housing supply has been consistently below demand. This has resulted in overcrowding and not enough new stock to cope with increasing demand, while rent caps and penalising taxation are a disincentive for private owners and institutional investors. High demand provides for high occupancy rates, the ability to be selective with tenants and achieve rental growth.