2013 volumes in these latter three sub-regions combined were of EUR1.3bn, up from only EUR0.1bn in 2012.
Compared to 2012, sales in 2013 have shifted from an average seven per cent premium to a significant discount of 13 per cent across Europe.” Going forward, GOEFs in liquidation still hold a portfolio of 4.7 million sq m of European properties, mainly concentrated in Germany (32 per cent) and Benelux (19 per cent) whilst Southern Europe accounts for a further 15 per cent.
The company invests in quality real estate in 15 countries in Europe and Asia with real estate special funds according to German investment law and with Luxembourg investment vehicles such as SICAV solutions.
Overall, BNP Paribas REIM Germany currently manages over EUR 5 billion, of which around EUR 4.9 billion is allocated to 14 special funds, two Luxembourg vehicles and four separate accounts for institutional investors.
However, sales were made across a much wider range of countries.
Funds moved away from selling UK and French properties to concentrate their activity across Benelux, CEE and Southern Europe.
BNP Paribas REIM Germany is a subsidiary of BNP Paribas Real Estate, Paris, and part of the international business line Investment Management.
The business includes both the management and the administration of real estate funds and real estate debt funds for institutional investors.
FRANKFURT, Jan 20 (Reuters) - Germany may reform rules under which investors can pull their money out of the country’s ailing open-ended real estate funds, Handelsblatt reported on Thursday, citing political sources.