Ascencio S.A.
ASCE.BR
Euronext Brussels49.70
EUR
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Ascencio S.A.
ASCE.BR
(Euronext Brussels)
Recent
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49.70
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ROIC.AI
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- Business
- Ascencio S.A. Ascencio SA (ASCE.BR) is a publicly regulated real estate company (Belgian REIT or SIR) listed on Euronext Brussels that specializes in owning and managing commercial real estate assets, primarily supermarkets, retail parks, clusters and standalone properties located on the outskirts of urban areas in Belgium, France and Spain. The company operates under SIR status in Belgium, SIIC in France and SOCIMI in Spain, with a portfolio fair value of approximately EUR 749 million across 102 properties totaling around 440,000 square meters that generates annual rental income exceeding EUR 54 million at a 97.8% occupancy rate; key property types include standalone food supermarkets (36% of portfolio value), retail parks (39%), clusters (19%) and others (6%), serving major tenants such as Intermarché (18% of rents), Grand Frais (9%), non-food retailers including Brico, Carrefour, Decathlon, Hubo, Krëfel, Auchan and Delhaize, with sector exposure to food (40%), DIY (11%), furniture/interior decoration (9%), fashion (8%), sports (7%), electro/multimedia (7%) and others. Founded in 2006 and headquartered in Gosselies, Belgium, Ascencio S.A. maintains a multidisciplinary team of 21 employees focused on asset management, tenant relations, sustainability and customer experience, emphasizing values like shop mix, space flexibility, accessibility, parking and positive tenant engagement. Recent developments include the 2024 change in legal structure from SCA to SA, acquisition of three newly developed fully let retail units (3,000 m2) in the Bellefleur retail park in Couillet, Belgium for EUR 7 million, disposal of a 10,000 m2 retail complex in Jemappes, Belgium for EUR 8.5 million, takeover of five Casino supermarkets by Intermarché (four stores) and Auchan (one store) in France, signing partnerships for 470 electric vehicle charging stations across the portfolio (260 in France, 210 in Belgium), head office renovation in Gosselies, implementation of a new integrated rental management and accounting system, roof renovations and insulation on six properties (16,000 m2), car park relighting on 15 sites (70,000 m2), launch of photovoltaic panel installations and a carbon footprint study, creation of an ESG committee, publication of a third EPRA sBPR report earning a Gold Award, refinancing activities with six new IRS payers (EUR 140 million maturing 2027-2031), two IRS receivers (EUR 20 million to 2028), MTN extension (EUR 20 million, three-year average duration), three new revolving bank credit lines (EUR 50 million, 4-7 years) and addition of a new financial partner (total eight), alongside robust letting activity with 25 leases (15 renewals, 10 new) covering 21,000 m2 at +8.7% above estimated rental value.