Real Estate Accounting Firm
Primexis is a trusted partner to finance departments and assists real estate funds throughout the entire investment cycle. Our team of 50 multidisciplinary consultants is supervised by chartered accountants, who are specialists in the French real estate sector. We offer you a full-service package: advisory, accounting, tax compliance, reporting, valuation, and consolidation.
Your challenges
Are you looking to outsource your real estate companies’ accounting and tax compliance? Are you searching for a partner with an excellent track record in real estate tax? Do you wish to delegate the valuation of your regulated funds? Would you like assistance at key moments in your investment cycle? Do you need to temporarily reinforce your teams? Are you looking to secure the price computation of a share deal transaction?
Real Estate Funds Management
Our team handles your real estate companies’ accounting and administrative management, allowing you to focus on your own assignments and your core business.
We ensure full compliance with the latest French tax regulations, while safeguarding sensitive data at every step.
Our areas of expertise
- Bookkeeping according to the periodicity that suits you
- Interface with the Property Manager and PM data review
- Periodic and multi-reference financial reporting: French GAAP, IFRS, and US GAAP
- Preparing annual statutory accounts and assisting with clients’ legal audits
- Managing accounts payable, workflow approvals, and payments
- Domiciliation of your French entities at Paris La Défense – Tour Pacific
Real Estate Tax Compliance
Our consultants are available to prepare and e-file tax forms for your real estate companies and funds.
Our experts will also help you handle specific and complex tax matters. Primexis is a reliable partner for successfully implementing your tax updates, providing tax advisory services, and assisting you during tax audits.
Our areas of expertise
- Preparing year-end tax returns and other current tax forms
- Real estate VAT, including specific VAT rules for property traders
- Tax consolidation of real estate companies
- Fulfilling tax obligations for non-residents owning assets in France
- Applying Quemener case law to merger operations
- Assistance with tax audit procedures by tax authorities
Regulated Vehicles
Primexis’ specialized teams are trusted partners to Fund Management Companies and assist them in the day-to-day management of their regulated vehicles.
Our areas of expertise
- Managing regulated vehicles – OPCI, SIIC, SLP, FPCI, SICAV, FPS, or other FIAs – as a valuation and accounting delegate
- Periodic and ad hoc Net Asset Value calculations according to different standards: PCG, IFRS, US GAAP, or INREV
- Computing regulatory ratios and KPIs for real estate funds
- Structuring and optimizing distribution obligations
- Preparing Banque de France reports
- Option for SIIC or SPPICAV regimes and estimation of the Exit Tax
Real Estate Advisory
Our multidisciplinary team can help you ensure the continuity of your finance functions and assist you with your transformation projects.
Our areas of expertise
- Temporarily replacing an employee or responding to an increase of your activity
- Project management while integrating a new information system
- Digitalizing and automating the finance function
- Streamlining and rethinking the internal process and reporting formats
- Assistance in the context of normative and regulatory changes
- Tax optimization in cooperation with legal advisors
Transaction Services
Our teams can assist you with your real estate transactions, acquisitions and sales. Our experts will provide you with a global and secure vision throughout your investment cycle.
Our areas of expertise
- Buyer-side due diligence (accounting and tax audit)
- Determining the provisional and final price formulas of the target company
- Preparing closing fund flows and pro forma accounts
- Post-acquisition accounting and tax structuring: Share Deal, Asset Deal, and Onboarding
- Restructuring operations
- Assistance in implementing data rooms and performing financial and tax Vendor Due Diligence
Domiciliation
Do you want to have an address for your French real estate companies? Primexis offers you its address in the heart of the business district in Paris La Défense.
Our areas of expertise
- A registered office approved by the Hauts de Seine Prefecture
- Domiciliation at the Tour Pacific – Paris La Défense
- Mail management and paperless delivery
- Annual general meetings held in one of our meeting rooms
- Corporate secretariat provided by our legal partners
- Providing contact with our independent legal representative partners (Directorship)
Client
French asset management company, 8 billion euros of managed assets
Engagement context
Managing accounting, tax compliance, and corporate secretariat for more than 40 SPVs:
- Monthly bookkeeping
- Review and integrate property manager’s data performance of consistency checks
- Prepare quarterly reporting (PCG) and consolidated statements (IFRS)
- Prepare and file monthly VAT returns
- Prepare financial statements and assist the client with the legal audit
- Engagement carried out entirely on our client’s accounting and consolidation system
Client
Luxembourgish structure of a US investment fund
Engagement context
Luxembourgish entity directly holding 12 assets in France under the purchase-resale regime (property traders):
- Register with the center for non-residents for corporate income tax and VAT
- File VAT option letters on rental income, per property
- Manage VAT matters related to the property traders’ regime
- Apply accounting rules related to the property traders’ regime
- Quarterly financial reporting under Lux GAAP and US GAAP
Client
Asset management company, key player specialized in real estate investment
Engagement context
Buy Side Due Diligence – Shopping Center:
- Analyze targeted companies / review companies’ history
- Detailed analytical review of the income statement and balance sheet
- Passing Rent reconciliation: reconcile the rental income with the Rent Roll
- Service Charges and Void Cost: review service charges invoiced to tenants and reconciliation with the recharge roll
- Prepare work papers to indicate our work
- Assistance with the SPA and price formula
- Analyze the financial and accounting terms of the purchase agreement
Client
Scottish asset management company, 350 million in assets
Engagement context
Restructuring a real estate fund (prime office buildings):
- Simplify the structure’s chart by merging companies with retro-active effects and terminate the tax consolidated group
- Ad hoc accounting closing to assess contribution to the OPCI
- Subscribe to the SIIC regime within 4 months of the last closing and compute the Exit Tax (19%)
- Merge the group into a single entity, subsidiary of the OPCI
- Assistance with group consolidation under IFRS and study the consequences of restructuring and changing the tax regime
Client
A global key player in private equity, European leader in last mile real estate (owner of more than 1700 logistics assets)
Engagement context
- Re-internalize the finance functions
- Reinforce the investment accounting team while internalizing the accounting and with quarterly reporting scope
- Assistance with re-internalizing the accounting for all French entities
- Assistance with preparing quarterly reports (IFRS)
- Redesign the internal process and optimize quarterly closing work
- Implement processes in a YARDI software environment
- Assistance with ad hoc closings related to recapitalization
- Accounting and financial onboarding of new acquisitions
1. The SIIC regime (Société d’Investissement Immobilier Côtée) exempts rental income and capital gains from corporate tax. To qualify, 85% of rental income and 50% of capital gains must be distributed to SIIC shareholders. This regime helps reduce the tax burden and ensures the redistribution of generated income for a quicker return on investment.
2. VAT on margin applies to property traders, optimizing the tax treatment of real estate transactions. This tax benefit means that only the profit margin—calculated as the difference between the sale price and the initial purchase price—is taxed.
3. The SPPICAV regime (Société de Placement à Prépondérance Immobilière à Capital Variable) exempts investors from corporate tax. This regime encourages long-term real estate investments by offering low taxation on distributions.
4. Depending on the holding period of one or more properties, real estate companies can benefit from capital gains tax exemptions.
We provide valuable tax optimization advices through our team and digital solutions, to manage income distribution requirements and calculate potential Exit Tax when potential tax regimes changes occur.
Through our strategic advisory services, we provide regular reporting on diversification, liquidity, and regulatory ratios, in accordance with French, international, and real estate fund-specific standards.
A SIIC (Société d’Investissement Immobilier Cotée), on the other hand, is a publicly listed company that benefits from favorable tax status. The SIIC is exempt from corporate tax, provided it distributes at least 85% of its rental income to shareholders. This regime is widely used by large listed real estate companies.
France – Finance Accounting Management – 2024 Rankings
Décideurs Magazine ranks our firm as a
“Key Player” in the Real Estate
Primexis’ Real Estate team is proud to once again be named “Key Player” in the 2024 Ranking
of French Accounting Firms published by Décideurs Magazine.
For the 7th consecutive year, we have received the highest distinction in this ranking,
placing us at the top of the firms recognized as key players.
We are proud of this new recognition and would like to extend our sincerest thanks to our clients
and partners for their trust and commitment.
Our teams,
our skills
Primexis’ Real Estate team is specialized in assisting real estate investment funds.
- A team of 50 English-speaking specialists
- Extensive experience with French and international groups investing in real estate
- A team who interacts daily with various players in the sector: property managers, custodians, fund managers, notaries, and lawyers
- Highly proficient in sector-specific tools (Yardi)
- A team recognized as a key player by participants in the market
- A training program tailored to the sector
- Primexis is a partner with ULI France, which currently has over 700 members from all areas of real estate and land management in both the public and private sectors
Primexis is a member of ULI France
Urban Land Institute (ULI) is the largest independent global network of multi-disciplinary experts in real estate that brings together more than 45,000 professionals from around the world
As a member of ULI France, Primexis participates in real estate director meetings, conferences, workshops, site visits, expert networks, and engagement opportunities to improve the quality of life in cities.
This active participation in ULI France allows Primexis to be at the forefront of discussions on real estate trends and challenges as well as to develop professional relationships with other industry members.
Alexis Gasto, partner at Primexis, is one of the 8 members on ULI NEXT France’s board, which identifies and connects the next generation of real estate leaders, particularly those between 35 and 45.
Our Credentials
They have placed their trust in us
Our firm offers multi-sector assistance
Multi-sectoral accounting
Finance BPO
Find out more about our international network
A question? A project?
Our team is available to answer your questions. An expert will respond to you as soon as possible to provide you with specific answers tailored to your needs.