BNP Paribas Real Estate Investment Management (REIM) has completed roughly EUR 300 mln worth of transactions on behalf of its funds in the first 11 months of the year. This is a 35% increase on the investment volume of EUR 222 mln in the same period a year before.
BNP Paribas Real Estate Investment Management (REIM) has completed roughly EUR 300 mln worth of transactions on behalf of its funds in the first 11 months of the year. This is a 35% increase on the investment volume of EUR 222 mln in the same period a year before.
The investment manager invested a total of EUR 237 mln across 20 properties in the commercial property segment. This includes the purchase of the Charonne building in Paris and the Opale in Montreuil. The company also carried out EUR 29 mln of deals with the acquisition of 118 apartments.
BNP Paribas REIM has also completed EUR 34 mln worth of sales in the first 11 months of the year, which compares to sales of EUR 63 mln in the corresponding period in 2009.
'The year 2010 has been dynamic in particular with regards to the development of our OPCIs dedicated to the retail and logistics sectors, while our strategy to rationalise our portfolio has led to the sale of several smaller properties and the re-investment of the proceeds into newer and larger assets,' said Jacqueline Faisant, president of BNP Paribas REIM.
