à vocation patrimoniale

English translation: equity-based ; held as a capital asset / proprietary investment

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:à vocation patrimoniale
English translation:equity-based ; held as a capital asset / proprietary investment
Entered by: Adrian MM.

13:54 Nov 4, 2020
French to English translations [PRO]
Law/Patents - Real Estate
French term or phrase: à vocation patrimoniale
T&Cs / Prospectus concerning an investment fund (based in Luxembourg)

"STRATÉGIE D’INVESTISSEMENT

Un portefeuille résilient au cœur de la stratégie.
La stratégie d’investissements du fonds vise à constituer un portefeuille totalement résilient, à partir d’actifs décorrélés des aléas du climat économique .
Le choix de concentrer les actifs principalement dans des secteurs contra-cycliques ou agnostiques au climat économique s’ajoute à des exigences de localisation et d’excellence des locataires, engagés sur des baux fermes de longue durée.
Ces critères permettent d’inscrire dans le portefeuille des actifs immobiliers Européens Core/ Core+ à vocation patrimoniale, sécurisés."

I have a fairly strong conviction that this has nothing to do with "heritage" properties. Patrimonial also means "economic" or "financial". But given that all the real estate properties bought by the fund are going to be bought in order to make money, what might they be getting at by this phrase? Particularly profitable real estate assets, perhaps?
Mpoma
United Kingdom
Local time: 11:36
+ equity-based
Explanation:
Yes, patrimonial is indeed a weasel-word, 'proprietary' often working, but I don't see how the old adage of 'when in doubt, leave out' can work after the Core (space) + sign.

Anyway, in the overally context, actifs immobiliers may parse into those à vocation patrimoniale.

I also considered: held as a capital asset, proprietary or (company-to-company) trade investment, but someone else may care to take any alternative 'ball' and run with it..
Selected response from:

Adrian MM.
Austria
Grading comment
Thanks, I went for "equity-based" in the end
4 KudoZ points were awarded for this answer



Summary of answers provided
4for historic preservation
Francois Boye
4sustainable
Libby Cohen
3+ equity-based
Adrian MM.
3for purposes of heritage
Lisa Rosengard
3prestige property (fund/shares)
SafeTex


Discussion entries: 3





  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
for historic preservation


Explanation:
De manière générale le patrimoine est un ensemble existant, souvent en grande partie ou en totalité hérité du passé, constitué de biens matériels et/ou immatériels, propriété privée ou bien commun, que l'on peut vouloir conserver, vendre, échanger, valoriser ou maintenir pour les générations futures.

Source:Wikipedia



https://www.immobail.com/informations/strategies-d-investiss...

Francois Boye
United States
Local time: 07:36
Native speaker of: Native in FrenchFrench
PRO pts in category: 34

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: The asker doesn't think this is the meaning, and I agree.
4 hrs
  -> what are your reasons? Did you read the attachment?

neutral  SafeTex: This is about an investment fund, not a donation towards "historic preservation"
2 days 2 hrs
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
sustainable


Explanation:
According to the E.U. definition of what a core building is. This is about sustainability.

--------------------------------------------------
Note added at 2 hrs (2020-11-04 16:25:08 GMT)
--------------------------------------------------

I feel in this case, given the French explanation provided by the asker, we are talking about more than simply heritage factors for buildings. The EU definition of core buildings clarifies the sustainability emphasis, to be able to withstand economic downturns.

Example sentence(s):
  • Developed as a common EU framework of core indicators for the sustainability of office and residential buildings, Level(s) provides a set of indicators and common metrics for measuring the performance of buildings along their life cycle.

    Reference: http://https://ec.europa.eu/jrc/en/publication/levels-common...
Libby Cohen
Canada
Local time: 07:36
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
neutral  Suzie Withers: "core" and "core+" refer to types of investment - see MamaG's reference in the discussion
17 hrs
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4 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
+ à vocation patrimoniale
+ equity-based


Explanation:
Yes, patrimonial is indeed a weasel-word, 'proprietary' often working, but I don't see how the old adage of 'when in doubt, leave out' can work after the Core (space) + sign.

Anyway, in the overally context, actifs immobiliers may parse into those à vocation patrimoniale.

I also considered: held as a capital asset, proprietary or (company-to-company) trade investment, but someone else may care to take any alternative 'ball' and run with it..

Example sentence(s):
  • ...] liquidity standing, recorded sizeable gains on our proprietary investments as a result of the financial market recovery, managed [...] in the second half of the year to stem the outflow of client funds almost entirely, and have maintained our client
  • Businesses and Capital Assets. A capital asset is generally owned for its role in contributing to the business\'s ability to generate profit.

    Reference: http://www.wikiwords.org/dictionary/term/466638/930918
    Reference: http://onlinelibrary.wiley.com/journal/17593441
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 74
Grading comment
Thanks, I went for "equity-based" in the end
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7 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
for purposes of heritage


Explanation:
It relates to long-standing cultural or heritage assets which must have a respected protection.

Example sentence(s):
  • "Ces critères permettent d'inscrire dans le portefeuille des actifs immobiliers à vocation patrimoniale, sécurisés."
  • "The criteria allow entries in the file of secured property shares, for purposes of heritage with cultural protection."
Lisa Rosengard
United Kingdom
Local time: 11:36
Native speaker of: English
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: How do you know? Any evidence? Asker has already says he doubts this
2 hrs
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1 day 14 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
prestige property (fund/shares)


Explanation:
Hello

I've fully read this thread and references and come to the conclusion that "patrimonial" is used in both senses, -heritage (like "listed building"/'National Trust") and "assets".

I get the impression that this is a longer term investment and as some of the buildings are no doubt listed or otherwise protected, your shares may indeed go to your children one day

Also, you are not just counting on the dividends but the value of the building itself

"Dans cette optique les investisseurs acceptent un rendement un peu moins sécurisé en échange d’une hausse potentielle de la valeur de leur immeuble. "

So it's not just about "historic preservation" nor "purpose of heritage" but a combination which if, you think about it, may be summarised by a term like "prestige property".

When you invest in "prestige property", both ideas are probably running through your head.



SafeTex
France
Local time: 12:36
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 34

Peer comments on this answer (and responses from the answerer)
neutral  Francois Boye: in Europe, they do not call a prestige property a component of national patrimony.
12 hrs
  -> this is about an investment fund. You can't invest in "national patrimony"
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