Investment fund with capital participation by PMV

  • Real estate projects
  • Area development
  • Real estate
Gebiedsontwikkeling - Revive

With The Good Life Development Fund II, Ghent-based brownfield developer Revive is taking flight ahead: with a target of EUR 250 million, it is good for a record. The investment fund, with a stake from PMV, will realise projects in the Benelux, Poland, Portugal, the Netherlands, France and Germany. Pioneer Revive is the initiator, manages the fund and realises the underlying real estate projects, mainly underutilised or contaminated sites.

Ghent-based property developer Revive has been a pioneer in the remediation and transformation of brownfields, neglected land or buildings, since 2009. These are often old factory sites with (historically) contaminated soil that are remediated and transformed into new projects for residential or commercial use. Revive, an initiative of architect Nicolas Bearelle, now has more than 40 employees and has realised numerous projects, each time focusing on large, inner-city developments. Well-known projects include the old Marie Thumas cannery (Leuven), Komet (Mechelen) and the Ekla tower (Brussels). Revive has become the Belgian market leader for the reconversion of contaminated sites.

International expansion

To finance its projects, Revive sets up its own investment funds, with which it pioneered in Belgium in 2010, and relies on bank loans. Income comes from the sale or rental of buildings, from fees as fund manager and from profit sharing when the funds are dissolved. The new investment fund is good for a record with a target of €250 million. The money comes from Belfius, among others. PMV also participates. The fund is intended to boost Revive’s foreign expansion. Specifically, opportunities in Poland, Portugal, Germany, the Netherlands and France are being looked at.

PMV’s role

PMV participates in the fund as a shareholder. In line with its investment strategy, PMV thereby wishes to facilitate the growth of a Flemish company in Europe. PMV takes an active role in the fund’s advisory committee.

The project in numbers

The fund aims to reach 250 million euros. PMV is making €20 million available.

Project partners

Revive is a forerunner and market leader in complex urban regeneration projects. The organisation transforms brownfields into future-proof, carbon-free and connected development schemes.

A capital participation from PMV: also for your project?

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Steven Adons Principal Investment Manager steven.adons@pmv.eu