BNP Paribas RE boosts property management with new European mandates

France's BNP Paribas Real Estate said that its property management unit has increased assets under management by over 2.2 million m² in the course of 2009, reaching a total of 28 million m² of commercial space across Europe.

'With a staff of 655 in 35 offices across eight European countries, BNP Paribas Real Estate Property Management has a strong position in Europe,' the company said in a statement.

Following the acquisitions of Aberdeen's Belgian activities in end-2008, BNP Paribas Real Estate has become one of the leading property managers in the country and signed 140,000 m² of new mandates this year. In the UK, the company was recently awarded the management of Crown Estate's real estate portfolio in London, comprising 370,000 m² of prime office and retail space.

Last week, the company was also appointed by Deka Immobilien to manage a portfolio of 16 buildings offering 226,550 m² of space mostly in Ile-de-France. The company is expected to take over the management of the assets in January 2010.

BNP Paribas RE currently manages 13 million m² of commercial space in France after receiving over 1 million m² of new mandates in the course of 2009. The company plans to double its activities in the French regions by 2012, it said. To build up its presence across the country, it recently created a new business unit focused on the French regions.