Investment funds targeting Commercial Real Estate (CRE) Debt are experiencing strong interest from investors. The origins of CRE Debt fund growth trace back to the global financial crisis of 2008-9. Consequent of the financial crisis, stringent new capital requirements were imposed upon banks, resulting in a more conservative approach to origination.
Impressive new record take-up: Take-up exceeds 4 million square meters for the first time
Accimmo Pierre, an SCPI managed by BNP Paribas REIM France, acquired the buildings Palatin II and III in La Défense - a major business district in the outskirts of Paris - from Commerz Real. Both office buildings develop over 23,000 sqm across 7 floors and are currently being renovated for delivery in Q3 2018.
To boost its growth and consolidate its position as a benchmark player on the European real estate market, BNP Paribas Real Estate has appointed three new members to its executive board, two of which are based in the UK.
BNP Paribas REIM, on behalf of the real estate fund “Concepto”, acquired from SIGNA Funds the Deloitte Headquarters in Milan.