Bouwfonds Asset Management, part of the Dutch Rabobank Group, said on Tuesday that it is to open an office in Paris on 20 February. Bouwfonds will be active in the country under the name of Rabo Bouwfonds REIM France.
Bouwfonds Asset Management, part of the Dutch Rabobank Group, said on Tuesday that it is to open an office in Paris on 20 February. Bouwfonds will be active in the country under the name of Rabo Bouwfonds REIM France.
The company said it will initially focus on residential property investment and management. However, the new subsidiary will also carry out some investments in the French commercial property market and it plans to set up new property investment vehicles dedicated to private as well as institutional investors.
In a statement, Bouwfonds said that the main driver for the move was the country's high level of transparency that creates a favourable environment for real estate management activities. Bouwfonds also hopes to benefit from the presence of other affiliates of the Rabobank group in the country, such as Bouwfonds Marignan Immobilier, Bouwfonds MAB, Robeco and Rabobank International.
Rabo Bouwfonds REIM France will be headed by Patrice Rossard, formerly investment director at Caisse des Dépôts.
