BNP Paribas Real Estate Investment Management [Europe]

2017 Real Estate Top 100 ranking: 39http://www.realestate.bnpparibas.com

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Manager Details

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, including funds such as SCPIs, OPCIs and SCIs 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: Office-based employment growth is resulting in strong tenant activity. Meanwhile, while new development has improved the quality of stock, it has not significantly increased the size of it. As a result, vacancy rates keep trending down in most markets and are expected to hit their trough in 2019. With the exception of the UK, rental growth is expected to be more front-loaded over the next five years. Values should increase more in German, Spanish and Scandinavian markets. While core strategies are still expected to deliver decent performances in most European cities, value-added plays are particularly attractive in the tightest markets such as the main German cities and Central Paris.

RESIDENTIAL: This sector offers an appealing combination of growth and stability. The potential for growth stems from the structural shortage of supply relative to demand, where demand is originated by a) increasing urbanisation and immigration and b) the need of higher-quality stock. This sector is also quite stable as demand is essentially disjointed from the business cycle. Germany, the Netherlands, Sweden and the UK remain the most “institutional” markets. While all major markets are expected to perform positively over the next few years, the Netherlands and Spain are anticipated to do particularly well due to higher potential for capital growth.

RETAIL: As the European economy is improving, the drivers of retail are improvingaswell. However,the faster growth of on-line sales is resulting in store sales progressively having a lower share of total retail sales. In this environment, digital-savvy retailers will be the most successful. We expect the high-street to be a defensive play, as it becomes a “show-room” for retailers, while large, dominant malls are expected to gain market share over other retail locations. Overall,our European retail rental forecasts remain fairly subdued, which suggests that retail strategies should privilege income and income stability.

LOGISTICS: The logistics sector remains the poster boy of European real estate. Its success is well illustrated by the progressive reduction of the office-logistics yield gap over time. Tenant demand stays solid as the shift to on-line retailing continue unabated, while cyclical trends such as retail sales and manufacturing growth remain encouraging. Rental growth prospects remain favourable in most markets, as most logistics markets remain undersupplied. We expect land shortages in urban locations to intensify, therefore exacerbating the gap between demand and supply. As a result, demand for urban logistics assets should be 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, retail, residential 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.

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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