AG2R La Mondiale’s property portfolio contains 210 assets worth €6.8bn. At 92%, the office sector makes up the bulk. Real estate now accounts for some 7% of overall assets. A wide-ranging listed component whereby issuers are selected for their ESG credentials and social impact and includes student and social housing accounts for some €2.2bn. The main objectives are to pursue an opportunistic and agile approach with a view to outperforming the MSCI benchmark. 

To enhance the value of its assets and guarantee their attractiveness and liquidity, AG2R La Mondiale implements ambitious policies in terms of certification, reduction of energy consumption, accessibility, tenant comfort and well-being. Clear evidence that its real estate is an integral part of its sustainable framework can be found in the management of green spaces, how contracts for waste recycling and recovery are implemented and how assets are repurposed.  

AG2R La Mondiale’s strategy consists of developing assets made up primarily of high-quality tertiary buildings located in dynamic areas, creating value during development work and optimising divestments. For the period between 2001 and 2022, it has generated strong long-term performance of 6.8% over seven years, 6.5% over 10 years and a 5.8% average rate of return. 

The target allocation for 2025 is based on three key parts. Firstly, it targets core assets. These range between 75% and 92% of the portfolio and chiefly comprise offices in Paris and its western inner suburbs that are characterised by regular income, good liquidity and resilient valuations. 

Next to add diversification, it has exposure between 10% and 18% in offices in Paris’s outer suburbs or other major French cities, residential properties, convenience stores and senior non-medical care homes. 

Finally, other assets from 2% to 5% are held mainly through funds in offices in major European cities, commercial and shopping centres and last-mile logistics.