Amundi Real Estate achieved a total volume of more than €6.4 bn in acquisitions and disposals on behalf of the real estate funds and mandates it manages in 2017. The figure marks an increase of 33% compared to 2016.
In 2017, Amundi Real Estate managed a total of 38 transactions representing almost 834,000 m2. While more than €4.3 bn was invested in France, 28% of the acquisitions (by volume) were conducted outside France, in particular, in Germany and the Netherlands.
The majority of these transactions were in commercial real estate assets, of which 94% in office property, 4% in retail and shopping centres and 1% in hotels. As part of its active asset management policy, Amundi Real Estate also disposed of 36 assets for €387 mln.
Amundi Real Estate raised €4.3 bn in 2017, bringing total assets under management to €26.3 bn.
Growth in retail fund
The year 2017 also saw consolidated growth of Opcimmo, Amundi Real Estate’s French property collective investment scheme, for retail investors. Amundi raised €2 bn for the fund in 2017, which are fully invested to date, giving it a net capitalisation of more than €6.6 bn as at 31 January 2018.
Real estate investments conducted in 2017 mainly involved office buildings in France and Germany. In a climate of strong demand for office property, Amundi Real Estate said it has a selective investment programme with strict quality requirements, in leading locations such as the Coeur Défense complex and the Hekla Tower, both in La Défense, Paris or the Rocket Tower in Berlin (pictured).
On the institutional side, numerous club deals as well as major mandates and partnerships have been signed with new French and international clients.
Comment
Jean-Marc Coly, CEO of Amundi Real Estate, noted that 2017 was a 'great' year. 'Thanks to the strength of its distribution partnerships, Amundi Real Estate participates in emblematic transactions in a context of increased competition and selectivity. The choice of investment is more than ever key to our success. Our main objective is to continue our dynamic strategy in the management of our real estate assets, and in 2018 this should continue to maintain the attractiveness of our assets.'
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Top Investors
PropertyEU's Top Investors, Deals and Dealmakers ranking, based on 2017 European real estate transaction volumes, is published in May 2018.
