BNP Paribas Real Estate Property Management buys Central Europe Property Management business from AEW Europe

BNP Paribas Real Estate has bought the property management subsidiaries of AEW in Central Europe (PBW Polska, PBW Hungary and PBW Czech Republic) in a move to consolidate its activity in Central Europe.

These three PBW companies, achieving a global turnover of  EUR5 million and employing 70 local market specialists have been operating for fifteen years, with four offices in three countries: Poland (Warsaw and Gdynia), Hungary (Budapest) and Czech Republic (Prague).

Focused on offices and shopping centres, they manage a portfolio of high quality assets totalling 350,000 sq m.

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PBW Hungary, Poland and Czech Republic will endorse the brand of BNP Paribas Real Estate, which will increase its presence to 17 countries, not including alliance agreements.