This is UBP’s second such transaction – following its forward funding purchase in December 2021 of the 30,000 m2 HAMØ complex in Saint-Denis in which the French railway company’s (SNCF) headquarters are to be housed – and contributes to the expansion of the Bank’s governmental real estate investment offering. Furthermore, it demonstrates UBP’s willingness to focus on acquiring centrally located core assets that offer long-term leases, allowing investors to secure future rent indexation and thereby protect themselves from inflation.
“Governmental real estate offers many advantages for institutional investors seeking long-term, defensive investments. It combines clear visibility with competitive returns and is in especially high demand during economic slowdowns."
Pierre Escande, Head of Real Estate at UBP
The aim is to acquire some ten properties in the five countries which the European Government Properties strategy covers – France, Belgium, the Netherlands, Luxembourg and Germany – with targeted transactions amounting to between EUR 20 million and EUR 80 million. UBP’s ambition is to offer diversification and granularity through liquid investments to both private and institutional clients.
To date, UBP’s Private Markets Group (PMG) team has assets totalling EUR 4.1 billion under management and comprises 31 people based in Europe, the Middle East and Asia. The team, which has been active in private markets since 2015, offers solutions in four areas – real estate, private equity, private debt and infrastructure – and manages assets either internally or through exclusive partnerships.
