30 September 2013

Property Management Business in Europe: a new acquisition in The Netherlands

BNP Paribas Real Estate expands its Property Management business in Europe with a new acquisition in The Netherlands.

BNP Paribas Real Estate, has acquired the Dutch Property Management business of Aberdeen Asset Management. The team manages in the Netherlands a real-estate portfolio of approximately 333,000 sq m, 40% of which is retail, 38% offices and the rest logistics.

"This acquisition is an excellent opportunity to develop our business in The Netherlands by drawing on the quality real-estate team acquired from Aberdeen. Our mission will involve administrative, commercial and technical management of corporate real-estate assets (office, retail and logistics space) and leasing assistance covering the whole of The Netherlands," says Lauric Leclerc, Chairman of BNP Paribas Real Estate Property Management.

This transaction, which is part of BNP Paribas Real Estate’s development plan to strengthen its positions in Europe, completes BNP Paribas Real Estate’s range of services in The Netherlands following the acquisition in October 2012 of Holland Realty Partners (Real-Estate Transactions, Asset Management, Corporate Services, Valuations and Consultancy), now trading as BNP Paribas Real Estate Advisory Netherlands.

Nico Tates, Head of Direct Property – Continental Europe at Aberdeen Asset Management, commented: "The focus of Aberdeen Asset Management’s Amsterdam property team is on fund, transaction and asset management, and these activities will remain in-house. Outsourcing our property management activities to BNP Paribas Real Estate Property Management means we will be working with a highly skilled property manager with a thorough understanding of the Dutch market."

Sake Pleiter, currently Director Transactions and Consulting of BNP Paribas Real Estate Advisory Netherlands, will also run the Property Management business.

Now with operations in 14 countries and more than 50 cities, the BNP Paribas Real Estate Property Management business line has over 34 million sq m of tertiary property under management and employs almost 850 staff.

Aberdeen Asset Management is an independent asset management company. Formed out of a management buy-out in Aberdeen, Scotland, in 1983, Aberdeen is now a FTSE 100 company operating on-the-ground in over 23 countries across Europe, Asia and the Americas. As at 31 August 2013, Aberdeen manages assets of £201.7 billion ($312.0 billion/€236.6 billion) on behalf of institutional and private investors.

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