Frankfurt am Main / Paris, November 28 2016

Hines and Universal-Investment Acquire Marche Saint Germain

Hines, the international real estate firm, and German investment company Universal-Investment, have successfully completed the acquisition of Marché Saint Germain, a three-story mixed-use asset, for an institutional real estate fund administered and managed on behalf of Bayerische Versorgungskammer (BVK). The asset has been acquired from Banimmo, a Belgian REIT.

Keyfacts

Sixth acquisition for Bayerische Versorgungskammer’s €1.3 billion high-street retail mandate

Marché Saint‐Germain, which was originally built in 1995 aiming to resemble the historic market halls on the same site, is located in the heart of the famous Parisian area Saint‐Germain‐des‐Prés. It sits on a rectangular land site of 6,908 square meters which is developed over three floors and is part of a mixed-use building of 6,572 square meters including eight public areas, which are owned by the City of Paris, and three private areas. The asset was renovated in 2016 and is 100 percent leased to six tenants including Apple, Marks & Spencer, Nespresso and Uniqlo.

Source: Hines

This transaction is the sixth acquisition by Hines and Universal-Investment for the BVK mandate, having been appointed late last year to execute a €1.3 billion investment program targeting prime high-street retail property across Europe. With the closing of this deal, approximately 63% of the portfolio has been committed. The acquisition follows the purchase of two assets in Milanas well as acquisitions in Oslo, Glasgow and Manchester.
“With its location in one of Paris’ most sought after and affluent neighborhoods, Marché Saint Germain is part of an already strong but further growing high street retail precinct. The quality and character of the building, coupled with its diverse income profile from leading retail brands, make this asset a compelling proposition for BVK’s high street retail strategy,” said Peter Epping, managing director – Investment Management for Hines Europe and fund manager of the account.

Lars Huber, CO-CEO of Hines Europe, added, “We are very pleased with the speed so far at which we have been able to identify and acquire core-plus and value-add assets in European prime retail locations for BVK. We are excited to add this asset to the BVK portfolio and our teams are very focused on making this new strategy a success.”

Alexander Tannenbaum, Managing Director of Universal-Investment, adds, “German institutional investors favor retail properties in their increasing real asset portfolios as they deliver steady returns and provide good diversification.”

About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 192 cities in 20 countries. Hines has $93.2 billion of assets under management, including $47.9 billion for which Hines provides fiduciary investment management services, and $45.3 billion for which Hines provides third-party property-level services. The firm has 105 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,180 properties, totaling over 379 million square feet. The firm’s current property and asset management portfolio includes 483 properties, representing over 199 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.

Visit www.hines.com for more information.

About Bayerische Versorgungskammer
Bayerische Versorgungskammer is the competence and service centre for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. It is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2 million insured persons in total, with contributions of €4 billion and €2.9 billion pension payments annually. It currently has €65 billion assets under management and 1,200 employees.

Visit www.versorgungskammer.de for more information.

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Bernd Obergfell
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bernd.obergfell@universal-investment.com

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