OVG leases 15,000 m2 to Commerzbank in Frankfurt

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Overig advies 18/09/2009 16:59
Rotterdam, September 18, 2009– OVG Investment Management has leased 15,000 m2 to Commerzbank, on behalf of IVG Institutional Funds. As a result of this transaction the Pollux building occupancy rate exceeds 50%. The Pollux building is a skyscraper designed by Kohn Pederson Fox. BNP Paribas Real Estate advised the tenant.

Coen van Oostrom, CEO of OVG Real Estate: ‘ We are very pleased for our investor that we were able to execute one of the major transactions in Frankfurt this year. This deal shows that despite the current market situation new deals can be closed. Besides, this transaction is important for OVG too, since it shows our presence and ambition in the German office market and in particular the Frankfurt market.’

About OVG
OVG Investment Management is part of OVG Real Estate and operates in the Netherlands and Germany. OVG was founded in 1997 and is the largest developer of offices in the Netherlands. OVG strives to develop sustainable projects that cater to the needs of its corporate clients, their staff and the immediate surroundings.

About IVG Institutional Funds GmbH
IVG Institutional Funds GmbH is part of the IVG Immobilien AG group. IVG Immobilien AG is one of Europe’s largest real estate companies. The company focuses on real estate and caverns. Through its network of branches in selected major German and European cities with around 700 employees, IVG currently manages its own properties with a market value of €6.1 billion, as well as specialised funds and mandates for institutional investors with a volume of €12.0 billion and closed-end funds with a volume of €3.3 billion. In total, IVG manages assets worth more than €22 billion.

About BNP Paribas Real Estate
BNP Paribas Real Estate is a leading international real estate provider, and the market leader in Europe, in terms of results, according to Property Week annual ranking: Agency 2009. It offers clients a comprehensive range of services that span the entire real estate lifecycle: property development, transaction, consulting, valuation, property management and investment management.

BNP Paribas Real Estate has local expertise on a global scale through its presence in 29 countries (14 subsidiaries and 15 alliances) across Europe, India, Middle East and United States with 3,500 employees in 129 offices. BNP Paribas Real Estate is a subsidiary of BNP Paribas, one of the world's six 'safest' banks in 2009 according to Standard & Poor’s (within its peer group).












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