21 February 2012
In 2011, BNP Paribas Real Estate Investment Management
Le montant des actifs sous gestion s’élève à 12,7 milliards d’euros soit une progression de 17.6 % par rapport à 2010
“BNP Paribas REIM continued to see significant development in 2011 due to the relevance of the funds offered to individual and institutional investors and the confidence of the growing number of investors who are turning to our asset management services. We intend to continue this dynamic by identifying the best investment themes across all the asset classes in the European countries that present the most promising opportunities", states David Aubin, Managing Director for Investment Management at BNP Paribas Real Estate.
Focus on the French market:
In France, BNP Paribas REIM, a market leader, realised a transaction volume of €689.3 million, representing an increase of 22.6% over 2010.
During 2011, BNP Paribas REIM in France* realised an overall transaction volume of €689.3 million on behalf of the regulated vehicles that it manages, REITs and REMFs. This activity volume is up significantly over 2010, during which a volume of €562.2 million was posted.“BNP Paribas REIM continues to develop in France, with 2011 being an active year in terms of transactions, supporting the development and rollout of our managed funds offering. We are maintaining our strategy with the aim of enabling our clients, both individual and institutional investors, to gain access to different real estate asset classes – from housing, business or office properties through to more innovative classes such as health properties", states Jacqueline Faisant, Chairman of the Board of BNP Paribas REIM in France.
* portfolio management company authorised by the French Financial Markets Authority
Acquisitions amounted to €581.5 million “deed-in-hand” in 2011 against €480 million in 2010, representing an increase of more than 21%.
Corporate real estate: several transactions were realised, representing 50 properties and an investment volume of €494.4 million, compared to €441.9 million (+12%) for 34 properties purchased during 2010. Among the transactions realised during the second half-year were the following:
- The continued acquisition of commercial assets realised on behalf of the SPPICAV Shopping Property Fund 1, with of particular note being the realisation of sale & lease back transactions with But Group and the acquisition of a portfolio of shops principally rented to the Babou brand.
Another highlight: the implementation, in October, of the 4th phase of investment in the SPPICAV Technical Property Fund 2 with the acquisition of a new industrial platform rented to La Poste Group via a locked-in 12-year lease agreement.
- The acquisition in December of several office properties on behalf of managed REITs, including the Armorique building in Rennes for the REIT ACCIMMO PIERRE.
The end of the year was particularly intense; in December alone, 11 properties representing nearly €100 million were acquired in the corporate real estate business in France.
Residential real estate: 2011 was an active year in this segment as well, with an investment volume of €86.6 million against €38.1 million for 2010.
420 housing units were purchased in 20 residential programmes, primarily on behalf of the REIT Pierre Avenir 2.
At 31 December 2011, BNP Paribas Real Estate Investment Management in France had disposed of €107.8 million in assets. This amount represents a significant increase over the volume of €82.24 million in sales posted for 2010 (+31.1%).
Corporate real estate: €90.4 million in arbitrages were realised, corresponding to the disposal of 37 assets (+29.2% compared to 2010).
Residential real estate: a total of €17.4 million was posted, corresponding essentially to the disposal of 53 apartments and 10 parking lots (+42.2% compared to 2010).
BNP Paribas Real Estate Investment Management (REIM) is an international company integrated into BNP Paribas Real Estate’s Investment Management business. With authorisation from the French Financial Markets Authority, it builds and manages diversified real estate assets invested in funds such as REITs (real estate investment trusts) and REMFs (real estate mutual funds) on behalf of third parties.
At a European level, assets under management totalled €12.7 billion euros as at 31 December 2011, up by 18% over 2010.
BNP Paribas REIM in France, with €4.1 billion in assets under management as at 31 December 2011, is one of the French market leaders. On 1 January 2012 the business numbered more than 90 employees, managing a range of 16 REITs invested in corporate and residential real estate corresponding to 753 properties and nearly 1.6 million sq m, and 4 REMFs governed by simplified operating rules.
For more information: www.reim.bnpparibas.com
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