Back to News
Faced with this unprecedented global health crisis, and following recent containment decisions implemented by various governments to curb the spread of the COVID-19 epidemic, BNP Paribas REIM has taken the necessary measures to ensure the health and safety of its employees and the continuity of its operations along with its customers and suppliers.
As a result, our teams remain active and operational by now working remotely. We also are taking all the precautions needed in terms of confidentiality and security, in order to guarantee business continuity. As a subsidiary of the leading bank in the euro zone, and based on solid financial foundations, BNP Paribas REIM has the financial and operative resources to overcome this crisis.
Some of the most burning questions are:
1/ Rental collection
We endeavor to continue to support our tenants and to evaluate their situation, taking into account specific requirements and exceptional circumstances. Obviously, as a responsible economic player, we support the measures adopted in the various European countries in which we own assets. We also pay special attention to tenants whose activity was completely interrupted by the new rules issued in the context of the fight against the spread of the COVID-19 virus.
2/ Asset and fund valuations
The measures taken by the authorities to address the current health situation could have an impact on the value of real estate of our 1600 assets across Europe, for a period of time that is not clear yet. The volatility incurred by financial markets over the past few days illustrates the difficulty of precisely quantifying the financial impact of current events. That said, real estate is by definition a long-term investment, largely recognized for its resilience compared to other asset classes and benefiting from solid fundamentals and attractive risk/return outlooks.
3/ Investments and divestments
We are currently carrying out a strategic review of already-initiated transactions. We will assess our investment and divestment strategies, taking into account the typology, location and rental situation of the assets being currently studied, in order to best serve the interests of our individual and institutional investors.
We closely follow the decisions taken by governmental authorities, and we adapt our actions in real time to respond to this exceptional challenge. We are confident that our strong expertise, coupled with the financial solidity of BNP Paribas, will allow us to tackle this unprecedented situation.
https://www.realestate.bnpparibas.com/COVID-19-SITUATION