08 March 2012
MIPIM NEWSLETTER - MARCH 8 2012
David Aubin, Head of BNP Paribas Real Estate Investment Management
1) What was the bottom line of REIM's (Real Estate Investment Management) 2011 performance?
Our activities during 2011 were especially intense within the 6 European countries where we do business (France, the United Kingdom, Spain, Italy, Belgium an Luxembourg), with a turnover of €89.2 million, which represented an increase of more than 10% over the previous year's result.d
2) How do the assets under management break down between France and the international market?
We manage €12.7 billion in assets within Europe, of which 32% are based in France and 68% abroad.
3) What do you foresee in 2012 as regards new directions or projects?
We'll be continuing with the same momentum in an effort to identify the best investment areas, across all asset classes in the most promising Western European countries. As an example, we're currently launching two new investment vehicles intended for institutional investors, the first being an Italian fund specialised in photovoltaic panels (Sun Value). Thanks to the success of the SPF1 real estate mutual fund (OPCI), we're also planning to roll out for France a second fund dedicated to retail with a similar strategy which should be created on the second half of 2012.
Paris 13th: Deka Immobilien sells the building Axe France for 166 M€. Deka Immobilien GMBH has just sold the office building Axe France to a group of French investors for a global amount of 166 M€. This building, located 118-120, avenue of France, in the zone “Paris Rive Gauche”, near the Ministère de l’Economie, des Finances et de l’Industrie, and in front of the National Library of France, was delivered in 2001 and acquired by Deka-ImmobilienGlobal in 2004. It develops a global surface of 22,000 sq m, with 3 levels of basement and 330 parking spaces and a restaurant with 300 seats.Conceived by the Cabinet of architecture Dusapin and Lecler, Axe France was developed by SORIF. Totally occupied, it lodges 5 tenants, of which Accenture, Beiersdorf and Régus. The transaction was carried out by the Investment Department of BNP Paribas Real Estate who advised the owner.
9 am: Press breakfast, with the attendance of Philippe Zivkovic, President of BNP Paribas Real Estate and Board members (at the beach).
11:30 am: Cocktail to kick off the “Citylights”programme, dedicated to renovating the Sèvres Bridge towers in Boulogne-Billancourt (at the stand).
The total volume of transactions concluded on the German corporate real estate market during 2011 reached just about €23.5 billion. Some 3.66 million m² was taken up, an increase of 18% compared to 2010. Despite the tumult affecting financial markets, Germany's corporate real estate assets remain highly desirable to the investment community. The overall vacancy rate has dropped by 5%, making the outlook for 2012 apparently more solid than could have been imagined given the present economic turmoil.
A KEY NUMBER : 6.5 million m² : Such is the volume of office space available for lease in Europe's 9 main cities (Central Paris, Central London, Frankf Munich, Berlin, Hamburg, Madrid, Milan and Brussels), according to BNP Paribas Real Estate's Research teams.
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