On September 17, 2013, BNP Paribas Real Estate announced that it will acquire iii investments, a Germany-based manager of real estate special funds.
On September 17, 2013, BNP Paribas Real Estate announced that it will acquire iii investments, a manager of real estate special funds. Based in Germany, iii investments is a subsidiary of HypoVereinsbank (UniCredit Bank AG) in the UniCredit Group and manages third party real estate and debt assets on behalf of German institutional investors. The acquisition will bring BNP Paribas Real Estate’s assets under management to approximately €18 billion. After the transaction is complete, iii investments will be renamed BNP Paribas REIM Germany. The transaction is subject to regulatory approvals and is expected to close by the fourth quarter of 2013. Financial terms were not disclosed.
For the press release, please click here.