18 September 2013

BNP Paribas Real Estate strengthens its investment management business in Europe

BNP Paribas Real Estate has acquired iii-investments, a subsidiary of HypoVereinsbank (UniCredit Bank
AG) in the UniCredit Group and second largest manager of real estate special funds for institutional
investors in Germany.
The new acquisition ranks BNP Paribas Real Estate's investment management business line as one of Europe's top 10 real estate asset managers, with €18 billion in assets under management. The acquisition is subject to the
approval of the competent authorities and could be effective by fourth-quarter 2013 at the latest. Confidentiality is
being maintained with respect to the purchase price.
The iii-investments acquisition is part of BNP Paribas Real Estate's development plan, aimed at growing its
investment management business in Europe and boosting its positions in France, Germany and the UK, which
together account for over 80% of Europe's total real estate investments. More broadly speaking, it also ties in with
BNP Paribas Group's expansion plan in Germany, notably by reinforcing its leadership position in real estate.
iii-investments, founded in 1958, manages and administers €4.2billion of third-party real estate and debt assets for
German institutional investors. These include pension funds, retirement plans and insurance companies, mainly
based in Germany. The assets consisting mostly of office space, are mainly located in Germany as well as in
France, in the UK, in ten other European countries and in Japan.
Commenting, Philippe Zivkovic, executive chairman of BNP Paribas Real Estate, said: "I'm delighted with the
acquisition. It completes our range of services in Germany, where we already have leadership positions in
transactions, consulting, valuation and property management, a business line that we grew in the first-half 2013 with the acquisition of Immoplan. It also strengthens our capacity to meet the expectations of our investor and user
clients for their real estate projects. Our investment management activity is now present in seven European
countries, with strong positions in France, Italy and Germany."
Heinz Laber, member of the management board of HypoVereinsbank and member of the supervisory board of iiiinvestments, said: "The sale of iii-investments as a highly specialised, institutional fund manager to BNP Paribas
Real Estate is an excellent step in ensuring the continued success of our subsidiary in good hands."
Reinhard Mattern and Bernd Schöffel, current managing directors of iii-investments, will continue to manage the
structure, to be renamed BNP Paribas REIM Germany.

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