BNP Paribas Asset Management raises €750m for second commercial real estate debt fund

BNP Paribas Asset Management (BNPP AM) has surpassed the €500 million ($509 million) target for its second senior commercial real estate debt fund, BNP Paribas European Real Estate Debt Fund II.

The fund secured more than €700 million ($713 million) commitments, bringing BNPP AM’s total assets in senior real estate debt to more than €1 billion ($1 billion) across two funds. A junior debt strategy is planned for later this year.

The previous fund, BNP Paribas European Real Estate Debt Fund I, closed in April 2021 with €335 million ($341 million) of capital. The fund targeted senior secured loans in commercial real estate across the Continental European market, including offices, retail, logistics, hotels, operating assets and non-standard assets.

So far, Fund II’s capital has been deployed across 19 selective transactions in Continental Europe, in the logistics, office and residential sectors.

“In the post-pandemic environment of increased vo