According to a press release, the French Novaxia group, a specialist in "urban recycling" real estate, experienced its second-best year in history in 2023 with a net fundrising of €296 million (gross €336 million). The success is attributed by its asset management company, Novaxia Investment, to the performance of its two funds, Novaxia R and Novaxia NEO REIT. By the end of September 2023, Novaxia Investment ranked 8th among collectors of retail real estate products.
The group predicts even stronger growth for 2024. It plans to use its investment capacity of approximately €100 million to seize market opportunities, diversify via external growth, and offer new products to an increasingly broad clientele.
According to the group's data, the Novaxia NEO REIT (SCPI) capitalized a distribution rate of 6.51% in 2023, with a non-guaranteed forecast rate of between 6% and 6.75% for 2024. Over the same period, Novaxia R raised €180 million, bringing its cumulative fundraising since inception in 2021 to €742 million.
The group currently has over 25,000 residential units under construction across all Novaxia Investment funds.
