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Strategy
6 Business Lines
Organization
Key figures
A unique business model
Covering the wholereal estate life cycle
Cross-functional teams
REAL ESTATEFOR A CHANGING WORLD
Client-Focused Commitments
- - - - - - - - - - - - - - - - P 10
International vision, local knowledge
- - - - - - - - - - - - - - - - P 28
A unique business model
- - - - - - - - - - - - - - - - P 04
Download the I-nigma application for your smartphone
Scan the QR code opposite with your smartphone
Access the digital version of the brochure and view the BNP Paribas Real Estate film
Contents
02
03
A development strategy based on a solid model
Interview
Thierry Laroue-PontChief Executive Off icer
of BNP Paribas Real Estate
How is your development plan progressing?
In 2012, we launched an ambitious development plan focusing on international expansion and services. We now carry out more than 45% of our activity and achieve 30% of our income outside France. Our development plan has taken the form of external growth and organic growth. We acquired two companies in Germany, one in Property Management and the other one in Investment Management as well as two in the Netherlands, in Transaction and in Property Management.
In Investment Management, at the start of 2013 we ranked 17th among European players. Following the acquisition of iii-Investments in Germany and our organic growth, we are now in the top 10 of European Asset Managers with nearly €18bn in assets under management.
We also opened or strengthened platforms in Asia and in the Middle East. They have already enabled us to initiate major deals with sovereign funds/family offices looking to invest in European markets.
What is different about your model?
It is both diversified and balanced.
Diversified in terms of its business lines, allowing us to provide our clients with a global response in the real estate value creation chain.
Balanced because our strong position in the United Kingdom and in Continental Europe enables us to provide our clients with the same expertise everywhere we are present.
Our internationalisation continues in Property Development. Half of our office production is outside France, particularly in Rome and London.
How does the balance sheet look for 2014 and what is the outlook for 2015?
2014 will be better than 2013 for BNP Paribas Real Estate with a 10% increase in revenues despite the uncertainty in the European economic environment.
In commercial Property Development, our projects in the pipeline are exceptional, with 400,000 sq m under construction and the finalisation of several very large projects, including CityLights (the Pont de Sèvres towers) in Boulogne and Ecowest in Levallois (West Suburb of Paris). In Germany and in the United Kingdom, we carried out a significant hiring campaign for Transaction, Investment and Letting and we will continue deployment in 2015. We strengthened our expertise in Retail /Logistics Investment and Lease Management for large accounts.
2015 will be a year full of challenges. I am very confident in our teams’ capacity to exceed our expectations.
04
Ze n o r a - I s s y - Le s- M o u l i n e a u x ( 9 2 ) / ( Pa r i s - F r a n c e ) >
A r c h i t e c t s : J e a n - Pa u l V i g u i e r a n d A s s o c i é s
• N o d a b u i l d i n g ( 2 2 , 1 0 0 m ² )
I n v e s t o r : We r e l d h a v e
O c c u p i e r : C o c a Co l a G r o u p i n F r a n c e ( H Q )
• Ve g a b u i l d i n g ( 2 6 , 4 0 0 m ² )
A c q u i r e r / O c c u p i e r : Y v e s R o c h e r G r o u p
An international network, a local presence
Present in 38 countries
BNP Paribas Real Estate makes use of an international network in 38 countries worldwide, with 17 direct offices and a network of alliances in 21 countries. This enables us to work by your side, wherever you are located. Whether you are based in Europe, in Asia, in the Middle East, or North America, our property professionals are present offering you on-the-ground service. Operating within local markets where we have in depth and specialist knowledge enables us to provide you with the right advice at the right time.
Client-focused commitments
Our objective is to establish and develop lasting partnerships. As we understand your day-to-day activities and your markets, we develop our expertise to match your needs: from planning to financing, from financing to construction, from construction to occupation, from occupation to management, from management to value enhancement.
A comprehensive service range to enhance value
Our major asset is our expertise across six business lines covering the whole property lifecycle: Property Development, Transaction, Consulting, Valuation, Property Management and Investment Management. We have experts in all of these business lines that can offer you support and guidance. Choosing to work with BNP Paribas Real Estate means gaining the benefit of across-the-board property expertise under one roof.
The strength of a recognised group
BNP Paribas Real Estate is a subsidiary of BNP Paribas Group, a European leader in world-class banking and financial services. For our clients, this gives the assurance of a trusted partner, offering stability over the long term.
07
YOU
6 complementary
business lines
BNP Paribas Real Estate combines all the expertise necessary to generate value from your property assets, at every stage in your property’s lifecycle. The aim of this wide range of services is to secure a genuine competitive advantage for you in terms of efficiency, quality of service and value creation.Depending on your requirements, you can use some, or all, of our business lines.
08
Getting to know us
662MILLIONS D'EUROSDE CHIFFRE D’AFFAIRES*
156MILLIONS D'EUROSDE RÉSULTATOPÉRATIONNEL**
RÉPARTITION DU CHIFFRE D’AFFAIRES PAR PAYS EN 2012 (%)
Italie
Autres
France
RoyaumeUni
Allemagne
7%
7%
11%
13%
62%
RÉPARTITION DU CHIFFRE D’AFFAIRES PAR MÉTIER EN 2012 (%)
Expertise
Conseil
Résidentiel
TransactionIEPromotion
IE
PropertyManagement
IE
InvestmentManagement
6%
5%
13%
13%
22%
26%15%
* Le chiffre d’affaires correspond :
- pour les services, aux honoraires de la Transaction, du Conseil, de l’Expertise, du Property management et de l’Investment Management
- pour la Promotion, aux honoraires de gestion et aux quote-parts de marges dégagées à l’avancement des travaux des opérations vendues
** résultat avant frais financiers, impôts, dépréciations et amortissements
€716MILLIONOF TURNOVER*
€164MILLIONOF OPERATINGPROFIT**
TURNOVER BREAKDOWN BY COUNTRY IN 2013 (%)
Italy
Others
France
UK
Germany
7%
7%
13%
19%
54%
TURNOVER BREAKDOWN BY BUSINESS LINE IN 2013 (%)
Valuation
Consulting
Residential Transaction(Commercial)
Property Development(Commercial) Property Management
(Commercial)
InvestmentManagement
16%
6%
6%
12%
26%
21%13%
* The sales figure corresponds to: - for services, to fees for Transaction, Consulting, Valuation, Property Management and Investment Management - for Development, to management fees and shares of margin generated as work on schemes sold progresses.** Earnings before interest, taxes, depreciation and amortization
2013 KEY FIGURES
* Services: Transaction, Consulting, Valuation, Property Management and Investment Management.
3,700EMPLOYEES
€636MILLION
This is the consolidated shareholder’s equity ofBNP Paribas Real Estate, commensurate with its business and reflecting the financial solidity ofthe company
17COUNTRIES DIRECTLY
54%OF REVENUE GENERATED IN FRANCE
37%OF REVENUE GENERATEDBY PROPERTY DEVELOPMENT (COMMERCIAL AND RESIDENTIALREAL ESTATE)
84%OF REVENUE GENERATEDBY COMMERCIAL REALESTATE
46%OF REVENUE GENERATEDOUTSIDE FRANCE
63%OF REVENUE GENERATEDBY REAL ESTATESERVICES*
16%OF REVENUE GENERATEDBY RESIDENTIAL REALESTATE
21ALLIANCES
Turnover breakdown: France / other countries (%)
Turnover breakdown: real estate services / property development (%)
Turnover breakdown: commercial / residential real estate (%)
09
10
C i t y L i g h t s - B o u l o g n e ( 9 2 - Pa r i s - F r a n c e ) >A r c h i t e c t : D o m i n i q u e Pe r r a u l t A r c h i t e c t u r e
“Whether you are an investor, occupier, developer, public sector or individual, we work alongside you as your real estate projects become reality.”
12
Z A C C l a u d e B e r n a r d - Pa r i s ( 1 9 t h - F r a n c e ) >A r c h i t e c t : M a t t h i a s S a u e r b r u c h
CLIENT-FOCUSED COMMITMENTS
13
WE WORK FOR YOU
“Each project is
different... We study
your needs, evaluate
the situation and find
the most efficient real
estate solutions for you.”
Investor
We are able to work together with you to build the most appropriate investment strategy for your project to optimize your property assets, throughout all market cycles. Our experts can offer you support and guidance in:
Definition of your investment strategy.
Enhancing / Optimizing the value of your property assets.
Asset acquisition / sales. Refurbishment of your buildings. Income and management cost optimization.
Assigning management of your property asset portfolio.
Public sector
Whether you are a government department, a public sector business or a local authority, BNP Paribas Real Estate can help you through its experience and expertise in the field of public service property:
Managing and enhancing the value of available land.
Major property development project services.
Property strategy implementation. Marketing of public sector assets. Reorganizing and refurbishing the property asset.
Operating cost optimization and rationalization.
Occupier
Growth, needing additional premises, mergers & acquisitions with premises moves, asset disposals, a need to move closer to strategic business centres. These are just some of the events punctuating business life. We can help you in:
Definition of your property strategy. Support and guidance for your property projects.
Property cost optimization. Property management services. Operating cost optimization. Find asset adpated to your activity.
Individual
Property investment means building a long-term asset base, that can be passed on to future generations. Whether you are buying a home or an investment, investing in French SCPIs / OPCIs (collective property investment schemes) – regardless of the form your plans take, we are able to provide you with support and guidance in finding the appropriate property solution for your needs, taking account of your objectives together with your family circumstances for:
Investing in rental properties, student or hotel residences or business travel complexes.
Buying a property. Subsequently selling the property. Investing in financial products (Property funds).
Developer
By making use of our services, you will gain access to the expertise of a fully integrated property services company able to support you at every stage in your project including:
Anticipating market requirements. Finding available land. Design and build. Marketing your project. Operating cost optimization.
A helping hand to assist you achieve your objectives:
Your organisation is undergoing change. You are looking for the ideal site for your company.
You want to find the best investment opportunities.
You want to optimise your property costs.
You want to add value to your property assets.
Transaction
Buy, sell or rent a property
or a property portfolio
“Buying, selling,
leasing, investing...
benefit from the
know-how of our
Transaction teams for
all of your real estate
projects.”
14
4.7MILLION M2
of commercial real estate
transacted for our occupiers
clients in 2013 (all asset types
combined).
Client-focused commitments
A solution for every project
• Buying and leasing property: offices, logistics/warehousing/retail outlets, hotels, lands.
• Leasing and selling your property: offices, logistics/warehousing/retail outlets, hotels, lands.
• Investing in commercial property or asset managing your portfolio.
Guaranteed localised service
We make our network of offices in Europe, the Middle East, and Asia available to meet your needs, along with our network of alliances. This organizational structure and the quality of our databases mean that our experts are able to provide a swift and local response to your needs. While property strategies are increasingly international, solutions remain local.
You want to:
Our Consulting business line teams provide support and guidance in drawing up your property strategy, in setting up tool kits to support your decision-making, and in implementing recommendations.
Support decisions with market indicators.
Assessing the viability and feasibility of each project.
Define a real estate strategy and increase the value of your property assets.
Optimise the value of your assets through property intelligence.
Benefit from support in lease management and the optimization of your property costs.
“You will always be able
to rely on the experience
of our teams to assist in
defining your real estate
strategy, which will
improve the economic
performance of your
company.“
Consulting
15
M i n i s t r y f o r t h e i n t e r i o r, o v e r s e a s , r e g i o n a l a u t h o r i t i e s a n d i m m i g r a t i o n
S I E M E N S
Le Lumière - Paris 12th - France1,700 staff, 42,000 m2, 12 year lease Advising the occupier in the context of a relocation project
Optimising office space (12 m2 / employee) and arranging departments
Sisley Building (St Denis) - France 18,000 m2 Optimisation of real estate cost Improved efficiency of work spaces
Tailored solutions
We offer you support and guidance in complex decision-making through our experience in over 863 consultancy projects in six years.The key success factor lies in our ability to tailor our consultancy services and take into account your current and future needs, your cost and time constraints, your projects’ strategic and financial requirements, and an assessment of your organizational limitations.Our expertise can be applied equally to one off projects and more complex strategy scenarios.
Our expert assessments can assist with one-off projects as well as more complex strategies
• Define and implement a real estate master plan.
• Property strategy.• Portfolio management.• Lease negotiation assistance.• Outsourced lease management.• Modelling and measurement
of economic effects.• Technical audit and asset valuation.• Sustainability solutions.• Creating and managing data room.
A dedicated team based in
• France
• Germany
• United Kingdom
• Ireland
• Jersey
• Netherlands
• U.A.E.7COUNTRIES
16
“Knowledge of
local markets, full
understanding of
financial approaches,
rigorous evaluations...
A wealth of skills in
providing a valuation
for your real estate
assets.”
Confidence
Our valuations are based on a number of criteria: qualitative appreciation of your asset, its location and positioning in itsdistrict, factoring in the direction of the market to assist you in establishing a valuation in the context of:- accounting standards.- sale/acquisition.- managing financial performance.- analysis of the mortgage risk.- legal, fiscal obligations of an
estimate.- determining rental value.
Exigency
When you entrust a valuation assignment to our teams you are calling upon independent experts and the skills of our partners present across the world with our directs offices and our alliances. You will also benefit from a uniform and thorough service whatever the location.We work in compliance with the main methodological benchmarks and international valuation standards as defined in theInternational Valuation & Accounting Standards or the RICS Red Book,
as well as the real estate valuation charter devised in accordance with TEGoVA (the European Group of Valuer’s Associations). Our German experts are also HypZert certified. Our teams ensure that ethics and confidentiality are respected to guarantee you independence and transparency.
Client-focused commitments
Valuation
Ensure transparency,
independence and precision
The priority our teams have is to provide you with reliable and accurate valuation:
Determine the value of an asset for its sale, leasing or for M&A.
Evaluate the value of your portfolio and its potential.
Accurately monitor the yield and the value of your investments:
• to act as guarantees for credit, • to prepare a statement or for
other accounting purposes, • to satisfy your legal obligations.
Dedicated teams established in:
Turnover breakdown by client type (%)
Turnover breakdown by country (%)
Turnover breakdown by type of services (%)
Occupierservices
9%
Occupiers14%
Others4%
UK23%
France39%
Germany7%
Italy 9%
Spain 18%
Banks42%
Investors44%
Buildingconsultancy19%
Real estateadvisory72%
17
2013 Key figures
TRANSACTION
CONSULTING
VALUATION
4.7MILLION M2
of commercial real estate
taken up by occupiers in 2013
(all asset types combined).
• France
• Germany
• United Kingdom
• Ireland
• Jersey
• Netherlands
• U.A.E.
7COUNTRIES
€10.3BILLIONof investment in commercial
real estate.
Close to
311MILLION M2
valued
Close to
€233BILLION OF ASSETSvalued
Close to
12 COUNTRIES
IN
4,200TRANSACTIONSin commercial real estate, one
transaction every 15 minutes
(41% in France and 59% abroad).
Close to
As the leader in commercial real estate development in France, for more than 40 years we have been supporting our customers in the construction of innovative and sustainable schemes. Whether you are an occupier, investor or planner, we provide you with recognized expertise in refurbishment, construction of new office buildings, hotels or redevelopment of sites.
18
* Source: Innovapresse Agency “Property Developers Ranking” June 2012** Business volume of reservations including VAT
New office development
We have been helping our partners, occupiers, investors and local authorities to successfully achieve their projects. Our recognized know how in the construction of innovative and long-lasting buildings has earned us the trust of major clients, occupiers and investors.
Building refurbishment
We breathe new life back into obsolete buildings, very tall buildings or industrial premises, reinventing them as workspaces suited to current requirements taking into account technical, economic and commercial constraints.
International projects
Our teams operate in France, UK, Luxembourg and Italy, building headquarters for major European groups and office buildings in renowned business districts.
Client-focused commitments
Property Development
Building, developing
2013 KEY FIGURES
N°1In commercial Property development in France*.
€856 MILLIONof business volume in commercial Property development**
305,000 m2
under construction in Europe
1,000,000 m2
of HQE-certified building in Europe
103,500 m2
completed in France
19
425,000 m2
under construction in Europein 2014
Close to
Examples of
underway projects
Zenora Issy-les-Moulineaux 92 - Paris (France)
48,500 m² of environmental friendly office space:
- HQE certified with an “Exceptional” level- BREEAM “Outstanding” level for one of
the buildings- BBC Effinergie quality-assured Architect: Jean-Paul Viguier Associates NODA Building (22,100 m2):
- Investor: Wereldhave- Occupier: Coca Cola Group in France (HQ) VEGA Building (26,400 m2):
- Acquirer / Occupier: Yves Rocher Group
Tiburtina Rome (Italy)
Construction of a new office building with floor space of 48,000 m².
Architects: 5+1AA Alfonso Femia - Gianluca Peluffo S.r.l
Environmental initiative: Leed gold Occupier: BNL HQ
CityLights Boulogne-Billancourt 92 - Paris (France)
Extensive restructuring and extension of a very tall building of 82,000 m2
Architect: Dominique Perrault Architecture
Environmental initiative:- HQE (Passport “Exceptional”)- BREEAM (“Excellent” level)- Sustainable development passport
“Exceptional” level- BBC label Occupier: GE Group for about 50% of space
6 Pancras Square London (UK)
Floor area: 40,000 m² Architect: Jean-Michel Wilmotte Environmental initiative: BREEAM ‘’Excellent’’ level
Investor: Axa REIM / PSP
* In some countries20
N°1In commercial real estateProperty Management(tertiary sector) in mainland Europe
“We provide day-to-
day management
of your real estate
assets to ensure
they are maintained
in good condition,
to increase their
profitability and to
optimise working
environments.“
Increase profit and ensure upkeep
Whether you are an institutional investor, user or developer, we offer you the tailor-made services you require to efficiently manage your real estate and keep tenants satisfied:• Landlord representation.• Lease management.• Technical and services
management.• Service charge management.• Financial management.
Personalised managementFor each aspect of management, we provide you with personalised solutions: letting and sales support, assistance to accountancy support*, management of shared ownership groups, support for sustainable building, delivery support, project management/contracting support and management of company catering.
Property management
for usersWe coordinate services for you to suit requirements of building occupiers:• Technical maintenance of buildings. • Management of soft services. • Services to individuals.
Client-focused commitments
Property Management
Rigorous and pro-active real estate
management
There are several requirements to achieve and surpass objectives:
Optimise cash flow: speedy leasing to receive rental income.
Manage lease-related contractual obligations.
Keep tenants happy by providing them with added-value services.
Provide material and technical upkeep of your building to ensure it remains in ideal condition in the long-term.
Make it future-proof and energy efficient.
Efficiently manage service costs, risks, insurance and any litigation.
Increase the value of your assets.
21
Cœur Défense (La Défense - Paris - France) - (190,000 m2 managed)
Enhance your real estate management with
35.8MILLION M2
managed in commercial
real estate in Europe
+3.7 million m2 compared to 2012.
More than
STAFF CANTEENSmanaged in France
(78,000 meals served each day).
100France, Germany, United Kingdom, Italy,
Spain, Jersey, Belgium, Czech Republic,
Hungria, Ireland, Luxembourg,
Netherlands, Poland and Romania.
Internationallyestablished in
14 COUNTRIESIN EUROPE
Typology of assets managedin Europe (%)
Others
12%
Breakdown of m2 managedby country (%)
Retail9%
Logistic-Platforms
19%
Others
Belgium
France
Germany
UK
9%
8%
11%
Italy11%
19%
42%Offices
60%
2013 KEY FIGURES
In France, in 2012 we launched the online service Easytech, which underpins the technical management of your buildings but also allowsadditional service lines to be set up:
• Energy metering.• Green Management.• Electronic Data room.• Investor portal.• Request outsourcing.
• Management of occupier services.• Interactive optimisation
of the work space.
22
Close to
€18BILLIONof assets under management in Europe in 2013
We are here to assist you with each decision
We select, coordinate and manage a wide range of assets for you. Our specialists have support from economists in our group as well as in-depth analyses on real estate markets. Our Research department has a team dedicated to the Investment Management business line.As such, tendencies on the real estate market are identified to be able to offer you the best performing solutions.
Each solution is personalised
We consider your objectives in terms of management, returns, adding value, geographical diversification, type of asset (offices, retail, logistics, warehousing, health establishments, hotels and residential buildings) as well as type of management. We will design and manage real estate investment vehicles for you that are tailored to your needs, based on opportunities on the market.
• Funds dedicated to each type of investor (institutional, Club deal, separate account, retail).
• ”À la carte” asset management services:
- investment strategy consultancy; - structuring and managing your
investment vehicle; - transaction support; - asset management.
Client-focused commitments
Investment Management
Ranges of funds and asset
management services to chose from
You are looking for:
Invest in real estate funds.
Define an investment strategy to:• diversify your current
asset base with long-term investments,
• optimize the value of your assets and your income flow.
Structure club deals.
Obtain recommendations for investment in assets or real estate vehicles.
Get support for structuring and managing your investment vehicle.
Obtain specific relevant information on markets to assist in decision making.
Be able to identify opportunities on the market in the medium term, as well as long term tendencies.
23
Photo
gra
pher:
Math
ieu
Polo
Paris 8th (France)
IN ITALY
Best Investment
Manager*.€18BILLION
of assets under
management
in Europe.
An increase of
€4.8 billion
compared
to 2012.
Close to
Close to
€800MILLIONinflow of new cash and over €2 billion
transacted (investment and arbitrage).
(asset under management).
More than
100
N°174% LOF INSTITUTIONALINVESTORS
INVESTMENTMANDATES ORVEHICLES
Close to €18 billion of assets under management in Europe
Risk category
Type of mandate (%)
Offices44%
Belux
Others
France
Italy
Germany
€1,7 bn€0,5 bn
€4,2 bn
€4,9 bn
€6,7 bn
Belgium,
Spain,
France,
Italy,
Germany,
Luxembourg,
United Kingdom
Established in
7COUNTRIES :
Mixted20%
Residential16%
Retail13%
Others
*Euromoney, September 2013
Ris
k fa
cto
rs
ROI
Added value
€2 bn
Opportunistic
€0,5 bn
Core - Core +
€15,5 bn
7%
2013 KEY FIGURES
24
E s p r i t 1 5
Pa r i s 1 5 t h ( F r a n c e ) >
A r c h i t e c t : F r a n ç o i s L e c l e r c q
BEST URBANREGENERATION
PROJECT
FINALIST
2014
Client-focused commitments
The expertise of our teams, their ability to listen and the diversity of our skills allow us to understand and meet your expectations:
convert a neighbourhood, develop a building, sell new or old residential property, design and operate serviced residential property.
25
Property development, diversified know-how and recognised advantages
Whether you are local authority, town planner, institutional investor or private individual, we can help you to devise and execute diversified and long lasting housing schemes:contemporary and upscale housing, practical and well designed institutional accommodation, social housing compliant with the latest status, specialist real estate, etc.Our knowledge of local markets, the permanent quest for quality, respecting our commitments, understanding of environmental issues and our belonging tothe BNP Paribas group are all advantages to provide you with pertinent answers whateveryour project.
Site redevelopment
and planning projects
We can assist you in:• designing and creating
the districts of the future;• revitalising a district,
improving major sites;• guaranteeing the feasibility
of the project by acting as the lead contract.
For some sites in France, we act as a planner in association with local authorities.
New accommodation
schemes
With work starting on over 1,435 homes and completion of 3,042 in France in 2013, we have recognized know how in residential real estate. Thanks to the experience of our teams on the ground, with the collaboration of architects we design and build products that meet the requirements of future buyers and that are compliant with all the latest environmental standards. As pioneers in the field of sustainable development, we actively seek Habitat & Environment certification for our schemes.
We are close to our clients, with a strong presence in France’s major urban centres. We are also developing our first operations in Italy.
Residential real estate:
designing and building
Gold TOPCOM 2011
in design category
2nd in 2010 in best initiative
in client experience category
26
Transaction: from research to achievements
For private buyer
Whether you are making a new acquisition or you are a first time buyer, our teams are at your disposal to study and execute your real estate project by:- suggesting assets that correspond
to your criteria among a wide range of assets, new and old;
- assisting you from the reservation to the signature of the acquisition papers and the completion of your apartment under the best conditions.
For private investor
Our employees’ expertise can help you to put together a high-performance acquisition strategy by taking your expectations intoaccount:- running a financial simulation
based on your plans;- offering a wide range of existing or
new-build property developments;- helping you to identify the most
appropriate tax reduction schemes (service available in France).
Entry into co-ownership property agreement or sale of old one
For institutional investors,
investment funds, private
property company, private
individual or social
stakeholder.
Our dedicated teams offer you specialist assistance for your acquisition or disposal plans:- improve your assets and
optimize transactions;- analysis of real estate project
and recommending a strategy suited to your needs.
Design and operation of service accommodation: a specific skill
As a benchmark player in France, we assist local authorities in building and operating residential lets for students and business tourists.We have developed a specific service for our investor clients with respect to serviced accommodation. This applies to both our “Studelites”, designed for students and our four “Hipark” residences located in Grenoble, Nice, Marseille and Serris Val d’Europe intended for business tourism.
We make all of our know-how available to you to guarantee you rigorous management of your asset and your investment.
The services we offer take care of theadministrative and technical burden, as well as the finding and selection of tenants.
Residential real estate:
selling and managing
* Sales reserved incl. VAT net of discontinuations (France and Italy) 27
Paris 14 (France) / Architect: Pablo Katz
Illu
stra
tion: L’Au
tre Im
age
TRANSACTION
2013 KEY FIGURES
RUNNING SERVICED ACCOMODATION
RESIDENTIAL PROPERTY DEVELOPMENT
1,291new and second hand
HOUSING UNITSsold and reserved in France
and in Italy.
6,767UNITS MANAGEDin serviced accommodation.
5,000HOUSING UNITS“Habitat & Environnement” or
“BBC Promotelec” certified or pending
certification in France.
3,042HOUSING UNITScompleted in France and Italy.
1,435HOUSING UNITSstarted in France.
€423 MILLIONof businessvolume*.
serviced residences
for students managed
in France.50serviced residences for
business travellers: Grenoble,
Nice, Marseille and Serris
(Val d’Europe).4
28
T i b u r t i n a ( R o m e - I t a l y ) >A r c h i t e c t s : 5 + 1 A A A l f o n s o Fe m i a - G i a n l u c a Pe l u f f o S . r. L
With 3,700 employees, a presence in 38 countries
we are close to you.
INTERNATIONAL VISION, LOCAL
KNOWLEDGE
* Covered via our alliance in Morocco ** Covered via our alliance in Austria
30
180Officeswith our alliances
Close to
Present in 38 countries
Our teams are directly active in 17 countries, and in another 21 through our network of alliances. As such they will provide you with a know-how highly regarded in Europe, Asia, the Middle East and Northern America.
17 direct locations...
France, United Kingdom, Germany, Belgium, Spain, U.A.E., Hong Kong, Ireland, Hungary, Italy, Jersey, Luxembourg, Netherlands, Poland, Czech Republic, Romania and Singapore.
... and alliances in 21 countries
Algeria*, Austria, Cyprus, Estonia, Finland, Greece, Ivory Coast*, Latvia, Lithuania, Morocco, Northern Ireland, Norway, Russia, Serbia, Slovakia**, Sweden, Switzerland, Tunisia, Turkey, United States and Ukraine.
Reinforced development in Asia and the Middle East
Our three offices in Singapore, Hong Kong and Dubai allow us to work with investors in Asia and the Middle East, and have a good understanding of what issues matter to them in the European real estate markets.
Real estate strategies are becoming increasingly global, while solutions remain local. Our 3,700 staff are there to offer you their up-to-date knowledge on the real estate markets they work in. This in-depth understanding, together with our geographic distribution, allows us to support you in your real estate projects and offer you relevant solutions ideal for your real estate issues.
International vision,
local knowledge
31
Staff breakdownby country (%)
France
46%
Germany
UK
Italy
Spain
Others
20%
14%
5%
5%10%
3,700EMPLOYEES
17 COUNTRIESDIRECTLY
21 ALLIANCES
INTERNATIONAL COVERAGE FOR LOCAL SOLUTIONS
U.S.A .
(Dubai and Abou Dhabi)
U.A .E.
Hong Kong
Singapore
32
6 Pa n c r a s S q u a r e ( L o n d o n - U K ) >A r c h i t e c t : J e a n - M i c h e l W i l m o t t e
International vision, local knowledge
InternationalInvestment Group
33
Etienne PronguéHead of International
Investment Group
“We provide our investors
clients with day-to-day
assistance in implementing
their acquisition and
management strategies,
on an international scale.
With offices in Singapore,
Hong Kong and Dubai, we
enable our international
clients to benefit from our
in-depth expertise in the
main European markets.”
Your partner for International property investment projects
Our International Investment Group provides support for your real estate projects in Europe. With its international scope, it covers all transaction related activities outside of your home market. The International Investment Group works closely with local Transaction teams to give you the best support possible, whether you are aiming to expand your assets under management or your real estate portfolio. We work closely with all the key players of the real estate market: this knowledge gives you access to the best investment opportunities “on & off” market and in assets under development.Our long-standing experience and our on-going presence in the major markets enable us to meet all your expectations for real estate investment.
Invest in Europe with the transaction market leader
We can find for you the best possible international investment opportunities. With experts on the ground in all European markets, we have real-time knowledge of transactional activity that your dedicated adviser can quickly provide to you. Our experience helps you save time and streamline your decision-making process.Our teams perform successfully on all types of property assets: offices, retail property, logistics, hotels or residential property.
Arbitrate / Sell your assets through our network of international investors
As the leader for Transaction and Consulting in Europe, BNP Paribas Real Estate allows you to connect with international investors. Our employees have a deep knowledge of international investors and an excellent understanding of their selection criteria. Managed by dedicated investment consultants, our teams help optimise your real estate assets outside your national market.We are in direct contact with all the key players in the global real estate market, investment funds (insurance companies, pension and sovereign funds), and both listed and private property investment companies. Our three offices in Singapore, Hong Kong and Dubai allow us to work closely with investors in Asia and the Middle East and to address their issues on the European real estate market.
34
Sylvain HasseDirector Corporate
Services
“Since real estate is such an
essential part of both daily life
and the financial performance
of businesses, Corporate
Services offers you assistance
from accomplished experts.
Experienced in the strategic
and operational requirements
of organisations, they will be
able to develop a fine-grained
understanding of what is
important for you. To ensure
that we work closely with
you and offer a quality
service, they will act as your
personal gateway to our
teams, supporting you in
defining and implementing
your real estate strategy in
France and internationally.“
International vision, local knowledge
A team dedicated to the
exclusive service of occupiers
Corporate Services: forrelevant and comprehensive answers to occupiers’ real estate issues.
Our Corporate Services team offers you a tailored service to address your real estate issues. Our aim is to provide you with the best suited solutions.
A personal account manager, an international team.
With the support of our Corporate Services you will benefit from a personal “Key Account Manager”, who will become your personal contact within BNP Paribas Real Estate. His role is to listen to you, analyse
35
and establish your international requirements, then advise and support you in the implementation of your real estate strategy with the backing of the six business lines of BNP Paribas Real Estate. Your Key Account Manager is a member of a professional multidisciplinary team that offers you local and international know-how.
Corporate Services offers you
• Multiple skills combining real estate experience and financial, managerial and technical knowledge.
• Expert knowledge of markets, reinforced by surveys and analysis by our Research department.
• An ability to understand every aspect of your business and objectives.
• Working group coordination.
Include real estate within your global strategy
• Benchmark your property scheme against the current market.
• Audit your real estate portfolio.• Analyse your portfolio and make
recommendations: identify opportunities for acquisition, development and arbitrage, etc.
• Occupancy strategy (owner or tenant).• Market studies and prospective
analyses.
Consider real estate as financial leverage
• Asset valuation.• Financial modelling, impact studies,
income and cash flow statements.• Outsourcing, asset sales, data room
establishment and monitoring. • Optimisation of your real estate costs:
analysis, renegotiation, renewal of leases.
Implement your real estate strategy
• Implement your real estate master plan.
• Search for land and premises.• Optimise your occupancy, consolidate
your premises.• Quantify resulting savings.• Arbitrate your occupancy status.• Search for investors and investment
opportunities.
Monitor your real estate strategy
• Create and manage real estate databases.
• Develop monitoring tools.• Assess regulatory issues and risks.• Manage leases, charges, rents and
services.
Corporate Services
36
Office Yield Gap
Average office yield for 11 main European markets
Income return
Av
era
ge T
ota
l R
etu
rn (
20
13
- 2
01
7)
Amsterdam Madrid
Milan
BrusselsFrankfurt
MunichBerlin
Hamburg
Central Paris
Stockholm
Central London
Capital growth
Total return
German 5-years bond yield
FORECASTS
European office market: total returns beakdown
European office market: Risk return trade-off
%
% %
0,0 -15,001 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17
-10,0
-5,0
0,0
5,0
10,0
15,0
20,0
1,0
2,0
3,0
4,0
5,0
6,0
7,0
00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18
YIELD GAP
FORECASTS
%
9,0
8,5
8,0
7,5
7,0
6,5
6,0
5,5
5,00,0 2,0 4,0 6,0 8,0 10,0 12,0 14,0 16,0
International vision, local knowledge
Our Research department provides real support to all our clients and business lines.Our many analyses and market surveys, as well as our economic and property forecasts, allow us to provide efficient decision-making tools.
Our Research team consists of some 40 professionals in Europe (Germany, Belgium, Spain, France, Italy, Poland, Romania and the UK).Our clients can also rely on the market knowledge of our teams, offices and alliances, covering 38 countries.
37
“Our research allows
us to rank markets
according to their
relevance for each
of our clients. In a
changing economic
environment, our
clients appreciate
our ability to develop
alternative scenarios.“
Our skills
• Five-year forecasts for the main European markets for office premises.
• Research on office, retail, logistics, warehouse, hotel and residential markets.
• Risk / reward analysis and portfolio analysis dedicated to the Investment Management business.
• Database updating.
As market leader, we anticipate market cycles and provide
the most relevant analyses.
Research department
offering an in-depth
understanding of the markets
To excel in full compliance with environmental, economic and human criteria: that is our vision of a responsible company and how we integrate Corporate Social Responsibility (CSR) into our strategy.CSR is an integral part of our business and activities, structured around the 4 pillars and 12 commitments that define our priorities.
We further encourage our suppliers and service providers to develop their corporate responsibility policies and follow our commitment by signing joint charters.
CSR AT THE HEART
OF OUR STRATEGY
38
Environmental quality at the heart of our businesses.
Aware of sustainable development issues for real estate and their impact on our clients and future generations, our six business lines are fully committed.We work with our clients to help them anticipate changes that will impact how we design, build and live in buildings, both residential and commercial.Thanks to the combined expertise of our teams, we anticipate the requirements of occupiers and design innovative, high performance and sustainable buildings and their associated services.All our building projects are certified to a high level. Some office buildings we manage are HQE or BREEAM certified. We work together with local authorities, to develop EcoDistricts and sustainable neighbourhoods, balancing economic, environmental, and quality of life issues.
“Enjoy your job”: an employer’s promise that makes a difference
Trust, transparency and recognition guide our human resources policy. As an employer, our main goals are to develop employees’ skills and offer them opportunities for professional advancement to guarantee their employability. In terms of skills development, for instance, 80% of our employees attend at least one training course each year. We also support those who wish to enrol on the Royal Institution of Chartered
Surveyors programme to obtain the professional qualification awarded by that body. Committing to making a difference also means taking practical steps to promote diversity. In 2012, we launched the Women in Leadership programme to increase diversity within the company. Two years on, 20% of female employees who have taken part in the programme have been promoted.
39
Committing to the future
Nurturing tomorrow’s talents is important for the future of our profession. This is why our sponsorship of architecture focuses on the upcoming generation of professionals. Since 2008, the “BNP Paribas Real Estate Prize for Young Architects” has been awarded to young architects for their contributions to current thinking. We have also established partnerships with leading schools in France.
We finance and participate in education through “the Chair in Real Estate and Sustainable Development” at the ESSEC Business School, and the Real Estate Management Masters at Dauphine University (Paris).
We provide and finance serviced student housing (Studélites) to architecture and town planning scholarship students for one year.
40
COMMITTED MANAGEMENT
Each member of the Supervisory Board, the Management Board and the Extended Management Board endorses the values of BNP Paribas Real Estate
B N P Pa r i b a s R e a l E s t a t e H e a d q u a r t e r s
( I s s y - Le s- M o u l i n e a u x - F r a n c e )
Supervisory board
Philippe ZivkovicChairman of the Supervisory Boardof BNP Paribas Real Estate
Jacques d’EstaisVice Chairman of the Supervisory Boardof BNP Paribas Real EstateDeputy Chief Operating OfficerBNP Paribas
Alain BreffeilHead of Paris Business CentersFrench Retail BankingBNP Paribas
Didier ChappetChief Executive OfficerBNP Paribas Leasing Solutions
Dominique FiabaneHead of Retail French Retail BankingBNP Paribas
Olivier HéreilChief Investment Officer, Executive Committee MemberBNP Paribas Cardif
Thierry LabordeChairman and Chief Executive OfficerBNP Paribas Personal Finance
Denis LaplaneHead of Corporate French Retail BankingBNP Paribas
Sylviane Le CarréHead of Group Corporate Real EstateBNP Paribas
Philippe MarchessauxChief Executive OfficerBNP Paribas Investment Partners
41
Management board
Thierry Laroue-PontChief Executive Officerof BNP Paribas Real Estate
Henri FaureDeputy Chief Executive of BNP Paribas Real Estate, in charge of Investment Management and Central Functions
Lauric LeclercDeputy Chief Executiveof BNP Paribas Real Estatein charge of Property Management
Extended management board
Piotr BienkowskiCEO AdvisoryGermany
John SladeCEO AdvisoryUK
Pascal MauryDeputy Managing Directorof BNP Paribas Real Estatein charge of Human Resources and Communications
Dominique JonesDeputy Managing Directorof BNP Paribas Real Estatein charge of Finance, IT, Purchasing & Working Environment and Organisation functions
Jean NunezDeputy Head of Corporate Banking EuropeBNP Paribas
Philippe ThelHead of Real Estate Finance EuropeBNP Paribas
Jean-Daniel WurtzChairman of One Bank for CorporatesBNP Paribas
BNP Paribas Real Estate - SAS with a
capital of 380.010.544 €
692 012 180 RCS Nanterre
SIRET 692 012 180 00174
Code NAF 7010 Z
Headquarters: 167, Quai de la Bataille de
Stalingrad - 92867 Issy-les-Moulineaux
Cedex – BNP Paribas Real Estate is a
subsidiary of the BNP Paribas banking
group.
167, Quai de la Bataille de Stalingrad 92867 Issy-les-Moulineaux Cedex Tel. +33 (0)1 55 65 20 50 Fax +33 (0)1 55 65 20 51
Non-contractual document -
500 copies - BNPPRE 143 -
November 2014 - Prepared by: iceberg.fr
Cover: Tiburtina - Rome - Italy - Architects: 5+1 AA Alfonso Femia -
Gianluca Peluffo S.r.l
page 2 - 4 photographer: Bruno de Gayets
page 2 - 6 Zenora - Paris - France - Architect: Jean-Paul Viguier
page 3 - 12 - 13 - 23 CityLights, renderings: RSI
page 8 photographer: Vincent Fillon – Architect: Norman Foster
page 14 ZAC Claude Bernard, photographer: Vincent Fillon
page 16 - 17 photographer: Bruno de Gayets
page 23 Zenora, photographer: Luc Boegly
page 28 Esprit 15, rendering: l’Autre Image
page 31 Paris 14, rendering: l’Autre Image
page 37 - 38 photographer: Bruno de Gayets
page 38 photographer: Vincent Fillon – Architect: Norman Foster
page 43 - 44 - 45 Le Velum, headquarters of BNP Paribas Real Estate
photographer: Vincent Fillon
Pursuant to France’s law No.78-17 from
6th January 1978, modified, relating to
Information Technology, files and Freedoms,
you have a right to access, delete or modify
data concerning you, which you may
exercise by post at the following address:
BNP PARIBAS REAL ESTATE FAO
personal details protection coordinator,
167, Quai de la Bataille de Stalingrad
92867 Issy-les-Moulineaux Cedex
or by e-mail at the following address:
Hong Kong
U.A.E
USA
FRANCE Headquarters 167, Quai de la Bataille de Stalingrad 92867 Issy-les-Moulineaux Tel.: +33 1 55 65 20 04 Fax: +33 1 55 65 20 00
BELGIUMBoulevard Louis Schmidtlaan 2 B3 1040 Brussels Tel.: +32 2 290 59 59 Fax: +32 2 290 59 69
CZECH REPUBLICPobřežní 3 186 00 Prague 8 Tel.: +420 224 835 000 Fax: +420 222 323 723
GERMANYGoetheplatz 4 60311 Frankfurt Tel.: +49 69 2 98 99 0 Fax: +49 69 2 92 91 4
HONG KONG63 /F Two international finance Center - 8 Finance Street Hong Kong Tel.: +852 2909 2806 Fax: +852 2865 2523
HUNGARY Alkotás u. 53. H-1123 Budapest, Tel.: +36 1 487 5501 Fax: +36 1 487 5542
IRELAND20 Merrion Road, Dublin 4 Tel.: +353 1 66 11 233 Fax: +353 1 67 89 981
ITALYVia Carlo Bo, 11 20143 Milan Tel.: +39 02 58 33 141 Fax: +39 02 3706 9209
JERSEY 3 Floor, Dialogue House 2 - 6 Anley Street St Helier, Jersey JE4 8RD Tel.: +44 (0)1 534 629 001 Fax: +44 (0)1 534 629 011
LUXEMBOURGAxento Building Avenue J.F. Kennedy 44 1855 Luxembourg Tel.: +352 34 94 84 Fax: +352 34 94 73 Investment Management Tel.: +352 26 26 06 06 Fax: +352 26 26 06 26
NETHERLANDS JJ Viottastraat 33 1071 JP Amsterdam Tel.: +31 20 305 97 20
POLAND Al. Jana Pawła II 25 00-854 Warsaw Tel.: +48 22 653 44 00 Fax: +48 22 653 44 01
ROMANIAUnion International Center 11 Ion Campineanu Street 6th floor, 1st district Bucharest 010031 Tel.: +40 21 312 7000 Fax: +40 21 312 7001
SPAINMaría de Molina, 54 28006 Madrid Tel.: +34 91 454 96 00 Fax: +34 91 454 97 65
U.A.EABOU DHABIAl Bateen Area Plot n° 144, W-11 New Al Bateen Municipality Street n° 32 P.O. Box 2742 Abu Dhabi Tel.: +971 44 248 277 Fax: +971 44 257 817 DUBAIEmaar Square Building n° 1, 7th Floor P.O. Box 7233, Dubaï Tel.: +971 44 248 277 Fax: +971 44 257 817
UNITED KINGDOM5 Aldermanbury Square London EC2V 8HR Tel.: +44 20 7338 4000 Fax: +44 20 7430 2628
MAIN LOCATIONS ALLIANCESALGERIA *
AUSTRIA
CYPRUS
ESTONIA
FINLAND
GREECE
HUNGARY ***
IVORY COAST *
LATVIA
LITHUANIA
MOROCCO
NORWAY
CZECH REPUBLIC ***
RUSSIA
SERBIA
SLOVAKIA **
SWEDEN
SWITZERLAND
TUNISIA *
TURKEY
UKRAINE
USA
* Coverage via our alliance in Morocco ** Coverage via our alliance in Austria***Covering Transaction, Valuation & Consulting
PLEASE CONTACT
Alliances Florence HesseTel.: +33 (0)1 47 59 17 [email protected]
Research Christophe Pineau Tel.: +33 (0)1 47 59 24 77 [email protected]