EPP TIGRE, European Property Partners Société Tigre

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Working with third party investors and with its own funds, the EPP TIGRE group focuses its efforts on the acquisition and management of real estate in France.

How We Work

The group has demonstrated high quality transactional skills and asset management capabilities. The group believes that it offers its investors significant competitive advantages through its quick response time to third parties on decisions for acquisitions and leasing, its strong analytical skills and attention to detail, and its well established network of brokerage and other real estate relationships.

TIGRE typically seeks purchase opportunities that meet criteria established by our investor groups. After the decision to pursue a property purchase, TIGRE acts for the investors in France. TIGRE provides all necessary services before closing the deal, including financial underwriting and due diligence, arranging debt financing, directing legal counsel, and providing officers for necessary French companies.

After the property is purchased, TIGRE provides all required asset management services to the investors, comprehensive property management for the acquired property and is responsible for directing required leasing and providing any needed tenant work or building improvements.

TIGRE offers its investors accounting and financial reporting systems which it developed to meet the particular reporting and tax requirements of international property investors.

Our Typical Property Targets

The target properties will typically be office and light industrial properties which can be purchased off market at an attractive price or which offer an opportunity to add significant value after purchase through more effective asset management, or by correcting a property problem such as reletting or repositioning the property. We have found that much of an investment’s success is determined by the terms of the initial purchase. 

We typically pursue smaller properties than our larger institutional competitors.  Also, we seek properties that will be highly desirable to the tenants, rather than architecturally important, trophy properties that one would like to grace the cover of a fund brochure.  For example, we look for sites that provide good access to public transportation, a factor of importance to most French employers. And, we will accept such sites even in secondary locations. We look for properties priced so that the rent will offer a highly competitive value proposition to tenants wanting or required to be located in the building's market area. As consequence, we have acquired very few trophy properties, but we have buildings with above average levels of tenant occupancy.

Use of Leverage

The venture will use debt at appropriate levels – typically 60-75% loan to value in today's financing environment, depending on the property cash flows.  At times in the past when banks offered higher loan to value financing, it was used by the venture, if supported by property cash flows.