November 24, 2022
Mata Capital, an independent real estate fund manager, provides an update after two years of operation in Lyon. With a portfolio of around twenty properties and over €120 million in assets under management, the company reaffirms its development ambitions for its Lyon office in a market it considers deep and resilient amidst an uncertain environment.
A diversified investment strategy, strengthened by a local presence
Convinced by the potential and depth of the Lyon market, Mata Capital opened its office in 2019 and became operational in 2020. Its ambition? To develop a diversified asset portfolio in France's largest real estate market by investment volume, after Paris. The opening of a local office, unprecedented for a real estate management company headquartered in Paris, was important for Mata Capital.
"We are convinced that it is essential to have a local presence and a local management team to make the best real estate investments in a city like Lyon," says Jean-Baptiste Pracca, Managing Partner at Mata Capital.
With a team of 5 investment professionals, Mata Capital has been able to deploy its various real estate strategies across all asset classes. By the end of 2022, the company will manage a diversified Lyon portfolio of over 50,000 m², comprising office, retail, and logistics properties. Recently, Adocia's headquarters (a biotechnology company specializing in diabetes and obesity research) in the heart of Lyon's 3rd arrondissement, a logistics site located in the Saint-Quentin-Fallavier area, and a retail park located in the municipality of Saint-Bonnet-de-Mure have joined the Lyon portfolio of assets managed by the company.
"We remain extremely selective in our investment choices and are very dynamic in managing our assets. With over 50,000 m² acquired in Greater Lyon over the past two years, at an average price of €2,000/m², we benefit from a 100% physical and financial occupancy rate and a complete absence of unpaid rents," states Antoine Fossati, who heads the Lyon team.
2023: Seizing Opportunities in a Favorable Environment for Value-Added Investors
With a significant capital reserve to deploy, Mata Capital aims to continue its investments in Lyon while taking advantage of a market environment much more favorable to buyers, with a continued strong emphasis on location in its acquisition strategy. Despite a market "seeking new benchmarks," Antoine Fossati remains convinced of the strong long-term potential of the Lyon market, which offers growth potential, particularly in rental values. "The prime rent in the Part-Dieu district is around €330/m², whereas it is close to €600/m² at Gare de Lyon, which is only 2 hours away by TGV," he specifies.
Meanwhile, Mata Capital's Lyon team states it is focusing on dynamic management of the real estate portfolio, particularly "by securing long-term leases, improving the quality of properties, both environmentally and in terms of user services, and by conducting preliminary studies for future redevelopment projects."