BNP Paribas Real Estate Investment Management [Europe]

2018 Real Estate Top 100 ranking: 40http://www.realestate.bnpparibas.com

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Corporate overview 

BNP Paribas REIM is a full service provider covering the entire life cycle of European property investments in all European countries and sectors. With more than 50 years of experience, we provide you with sensible, long-term investments in pan-European real estate generating income and creating value, across a range of highly diversified investment vehicles and separate account solutions. 

Our expertise covers the full spectrum of real estate investment management, including all elements of strategy and solutions, investment, development, asset management, structuring, risk management as well as proprietary research. Our real estate professionals blend local expertise with global practices and benefit from one of the best real estate networks throughout Europe. 

Sector forecasts 

OFFICE: Despite the slowdown in economic activity, office take-up is holding quite well in most markets. Some markets are witnessing an increase in pre- lets, due to the scarcity of available premises. Vacancy rates are reaching new lows in most cities and we do not expect a significant increase in availability, mainly as a result of still subdued development activity. Indeed, apart from some exceptions, the development market is progressively aimed at renewing older stock. Rental growth is expected to stay positive over the next few years, as potential tenants compete for scarce modern product. A potential source for adding value to investment is focusing on areas that are going to benefit from new infrastructure projects, such as the Grand Paris 

RESIDENTIAL: The potential for capital growth remains intact in most markets, due to very advantageous credit conditions and strong investor demand. Demand-supply imbalance is expected to remain in the markets that witness major population inflows. Indeed, although construction has increased in a few cities, it does not keep up with current and perspective demand. New legislation such as rental control in some markets is unsupportive, but, overall, investor interest for this sector is strongly increasing. 

RETAIL: European retail sales remain solid, showing the resilience of the consumer despite the challenges from the economy. However, most of the growth now comes from on-line sales, while the share of brick-and-mortar sales is continuously decreasing. The number of outlets opening is still higher than the number closing on average but the gap is reducing over time. Overall, our European retail rental forecasts remain fairly subdued, which suggests that retail strategies should privilege defensive stock. 

LOGISTICS: More challenging conditions for trade have not affected strongly affected demand for logistics premises. Indeed, despite some sort of slowdown in activity, especially after two exceptional years, take-up remains strong in most markets supported by a buoyant e-commerce market. Vacancy rates for modern product keep trending down, which translates into decent rental growth in some European markets. We expect land shortages in urban locations to intensify, therefore exacerbating the gap between demandand supply. Overall, prospects for logistics investment remain particularly favourable. 

Investment principles & strategy 

We consider a long-term approach focusing on yield, value creation and capital preservation, with transparent management and regular communication to our clients. Our dedicated research team enables us to have a precise market view allowing us to do scenario calculation at property and fund level. Our investment activities focus on high-grade office buildings in economically strong locations as well as highly attractive logistics, healthcare and diversified properties, in core and value add strategies. 

Strategic corporate development 

BNP Paribas REIM follows three strategic principles: 

  • Client Centric Approach – Reflection of customer journey & customer needs in product offering, client servicing as well as operational & organisational structure. 
  • Digital Asset Management – Create operational excellence in order to provide our clients state-of-the-art asset management service. 
  • Integrated Real Estate Asset Manager – Full service provider with best in class service standards across country borders and provision of state-of-the- art risk management and research instruments reflecting the specific needs of our clients. 

Performance verification 

The performance of our funds and assets is compiled, calculated and verified by MSCI. 

COMPLIANCE STATEMENT 

Within BNP Paribas REAL ESTATE INVESTMENT MANAGEMENT (REIM), we have an independent and integrated Compliance function. All compliance officers have a hierarchical reporting line into the BNPP Group Compliance function and to the CEO or the governing body. The Compliance function ensures that the company complies with the highest legal, regulatory and professional standards that apply to our business activities in order to guarantee the primacy of customers’ interests.

News from BNP Paribas Real Estate Investment Management [Europe]

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News from IPE Real Assets

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White Papers / Research from BNP Paribas Real Estate Investment Management [Europe]

Analysis from IPE Real Assets

  • Europe: All to play for

    The UK’s vote to leave the EU has caused investors to re-evaluate political risk. With elections on the horizon across Europe, political instability in the region has never been so pronounced, writes Russell Handy

  • Brussels: Capital gains

    Decreasing vacancy levels in Brussels and yield compression in rival European cities have put the Belgian capital back in the spotlight

  • City Focus: Lyon - Food for thought

    Investment volumes may not be earth shattering, but a strong tenant mix bodes well for the capital of la gastronomie, writes Russell Handy

  • Logistics Europe: Logistics delivers the goods

    Offering predictable income and expanding because of e-commerce, logistics is fuelling investor appetite, writes Russell Handy

  • German Spezialfonds: A growing, evolving landscape

    The Kandlbinder Report 2015 shows that the German real estate Spezialfonds market has grown, while the profile of its managers and investors has changed, according to Till Entziam

View more Analysis from IPE Real Assets

Head Office
167 Quai de la Bataille de Stalingrad
Issy Les Moulineaux
92867
France
Contact
Marc Sillon Tel. +33 1 5565 2757
Company website:
http://www.realestate.bnpparibas.com
Parent Company:
BNP Paribas SA

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