BNPPRE wins 285,000 m2 management mandate in Germany

BNP Paribas Real Estate Property Management was awarded a contract to manage a 22-strong portfolio of German assets.

The package, part of German Acorn Real Estate's portfolio, represents a total of 285,000 m2 of commercial space.

The assets are mainly located in the cities of Stuttgart, Wiesbaden, Nuremberg, Düsseldorf, Cologne and Essen and are multi-let to around 250 tenants, largely for office use.

Following the appointment BNP Paribas Real Estate Property Management manages around 40% of German Acorn's portfolio.

Founded in 2007 and headquartered in Cologne, the company is the German arm of US investment group Oaktree Capital Management.

In Germany, BNP Paribas Real Estate Property Management manages around 800 properties providing a combined space of over 5 million m2.