Founder's bearer share issued in Arcachon in 1929.

The company was founded in 1928 by Louis Gaume and Count Roger de Faramond, a native of the Tarn where he owns the Château de Vindrac, whose signatures appear on the document.

The company acquires 52 hectares of land at the foot of the Sabloney dune from the Société Immobilière de Pyla-sur-Mer and participates in other real estate and hotel projects such as La Corniche, Oyana...

Louis Gaume joins with Henri Ruhl, owner of the Casino of Cannes, Cabourg or Dinard by creating L'Immobilière et Thermale, and a subsidiary Société Générale Foncière du Sud-Ouest.