New asset management platform Urban Real Estate Partners (UREP) has appointed BNP Paribas to provide property management services across 16 logisitcs assets in five European countries and unveiled plans to grow its portfolio further.
`UREP was established earlier this year to manage a portfolio of 22 logistics properties worth €423 mln by its joint owners, former Hansteen Holdings' chief Paul Rodger, and a consortium led by Ares Management which includes the Investec Property Fund. Rodger is also UREP's managing director.
The portfolio serviced by BNP Paribas covers a total area of 600,000 m2 and includes six assets in France, (Belfort, Le Havre, Rennes, Orléans, with Combs-La-Ville and Rouen added in October 2018); four assets in Germany (Frankfurt, Kölleda, Langgöns and Berlin which was added in May 2018); four assets in the Netherlands (2 x Maasvlakte, Hordijk and Schipol), one asset in Spain (Tarancon) and one asset in Poland (Sochaczew).
'As we set up the logistics platform it was important for us to identify a single source, cross border property management team that could respond quickly to the demands of the business in a consistent and proactive way,' said Rodger. 'We have been delighted by the early success that the property management team at BNP PRE have delivered since instruction and we look forward to adding value to these investments as we grow the portfolio.'
'This mandate shows our ambition to provide our clients with integrated solutions for pan-European portfolios with international key account management, incorporating great challenges such as cross border coordination and management of logistics properties. It demonstrates our capability to manage all real estate asset classes at a European level, paired with deep local knowledge,' said Csongor Csukas, head of international property management at BNP Paribas Real Estate.
