BNP Paribas Real Estate Investment Management said that it has carried out EUR 388 mln worth of transactions on behalf of its funds during 2009. This compares to some EUR 454 mln worth of deals completed in 2008, and some EUR 374 mln in 2007.

BNP Paribas Real Estate Investment Management said that it has carried out EUR 388 mln worth of transactions on behalf of its funds during 2009. This compares to some EUR 454 mln worth of deals completed in 2008, and some EUR 374 mln in 2007.

'BNP Paribas REIM maintained an important transaction volume in 2009 in terms of acquisitions and sales, amid weakening investment market conditions over the year,' said Jacqueline Faisant, president of BNP Paribas REIM.

In 2009, the French group acquired EUR 249 mln worth of commercial property, investing in 40 properties. Major acquisitions include the purchase in December of a retail portfolio on behalf of a newly-created OPCI investment vehicle as well as the acquisition of three logistics platforms from the real estate unit of La Poste for EUR 85 mln.

In the residential sector, the investment manager has been particularly active with a total of EUR 38 mln invested in 2009, more than double the amount invested in 2008 (EUR 17 mln).

On the sales side, BNP Paribas REIM divested EUR 111 mln worth of properties last year, including some EUR 94 mln of commercial real estate.

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