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Owners

PBW Czech Republic was set up in 1992 under the name of Real CDC Praha by CDC group. It is now owned by PBW Real Estate Asset Management, a joint subsidiary of AEW Europe and ERGO Trust GmbH. The three property-management companies created by CDC Group in the early 1990's in Prague, Budapest and Warsaw, formerly known as CDC Budapest, Real CDC Praha and Real CDC Warsaw, become subsidiaries of PBW Real Estate Asset Management. PBW REAM manage PBW Real Estate Fund and its subsidiaries.

REAL ESTATE CENTRAL EUROPEAN FUND CREATED BY AEW EUROPE AND MEAG

PBW Real Estate Fund - set up in 2002 by AEW Europe and MEAG - is a closed end fund dedicated to modern properties located in Central Europe.

Shareholders in the Fund are CDC Group, and German insurance companies.

The assets of PBW Fund comprises office and retail properties totalling more than 200.000 sqm, including IBC and Myslbek in Prague, Emke, West End Business Center and MOM-Park in Budapest, and Atrium Tower and Klif Portfolio in Poland.

The structure of the portfolio is well balanced, with offices and retail properties in about equal proportion, spread equally between three countries, Poland, Czech Republic and Hungary.

The fund is managed by PBW Real Estate Asset Management, a joint subsidiary of AEW Europe and MEAG MUNICH ERGO Asset Management GmbH.

Asset and property management services are provided by local subsidiaries of PBW Real Estate Asset Management: PBW Czech Republic, PBW Hungary, and PBW Polska.

AEW Europe

AEW Europe is a leading European real estate investment manager one hundred per cent owned by Caisse d'Epargne Group. The company is focused on the creation, execution, and management of discretionary investment vehicles, separate account strategies, and strategic portfolio advisory services to both institutional investors and high net worth individuals. The group currently has over 210 professionals who are responsible for approximately €11.1 billion of assets under management. In addition, the integration of AEW Europe with the resources and capabilities of North American-based AEW Capital Management creates a truly global real estate investment management platform with aggregate gross assets under management of €23.3 billion.

AEW Europe takes a research-based approach to real estate investment and fund management. Drawing upon a series of research methodologies and tools developed for the European marketplace, the AEW Europe research team is integral to strategy design and the targeting of specific investment markets and product types. In identifying and underwriting potential investment opportunities, AEW Europe relies on local market intelligence generated from deep, long-term relationships forged in the broader European capital markets and a network of relationships maintained with its strategic partners, local property owners, and operators.

Further information: www.ixisaew.com

The group's business activities are concentrated on four specific areas:

  • Collective investment vehicles

    Creation and the management of discretionary collective investment vehicles designed to provide experienced investors with access to real estate investment opportunities world-wide. Such vehicles include a series of real estate equity partnerships such as AEW Europe Logistics Funds, focused on pan-European logistics, and Curzon Capital Partners, LP, a pan-European investment fund.

  • Direct separate account

    Design and execution of discretionary real estate funds management strategies on a separate account basis for institutional and private investors. The group has a large, well-established direct separate account business throughout Europe and the US.

  • Real Estate Securities

    Design and execution of the Fund and Separate account strategies focused on the real estate securities market. AEW's real estate securities business alone, focused on the US REIT market, currently has net assets of close to $5.5 billion.

  • Capital market advisory

    Creation and implementation of real estate capital market advisory strategies to assist investors in the financing, repositioning, disposition, and syndication of real estate in the private and public capital markets.

MEAG MUNICH ERGO AssetManagement GmbH

MEAG MUNICH ERGO AssetManagement GmbH is the asset manager for Munich Re Group and with more than €165 billion under management, including €16 billion of real estate assets, the second largest asset manager in the German insurance industry and one of the large asset managers in Europe. MEAG is responsible for the management of virtually most of the group's assets and implements state of the art investment processes regarding the core asset classes fixed income, equity and real estate. Its experienced experts develop customized concepts that always give top priority to the needs of the investor.

Since the beginning of 2006 the real estate activities of the ERGO Trust have been merged in MEAG. Retail customers and institutional investors alike benefit from the concentrated experience and expertise of MEAG and ERGO Trust. With a global network and its specialized knowledge, MEAG provides comprehensive portfolio management for institutional investors.

Further information: www.meag.com

History of Real CDC Praha s.r.o. (RCP) / PBW Czech Republic s.r.o.

1992 On 30th November, the company Real CDC Praha s.r.o. (RCP) was set up by the CDC Group, a French financial institution and a European constitutional fund manager. The company had only 5 employees.
1993 On 1st May, the company start managing the newly open administrative building IBC (International Business Center) in Prague
1996 From 15th October, RCP manages the newly open business-administrative centre Myslbek palace in Prague.
1997 RCP starts managing the refurbished historical building of Kleinův palác in the centre of Brno. These services are provided to the French bank Crédit Lyonnais, which was later renamed to Calyon.
1998 RCP starts providing the services connected with administration of buildings for the companies Johnson & Johnson and Actebis, tenants in the Zličín Business Centre in Prague.
1998 RCP assists the company CDC Budapest in managing the business-administrative centre Lurdy in Budapest.
1998 RCP extends its offer of services by accounting for its clients.
1998 On 28th August, it establishes, together with the company Eurogem, the subsidiary Praha Facilities Management, a.s., which provides services in the area of technical facilities management.
1999 RCP extends its offer of services by mail and reception services.
2000 From October, it provides the technical management of the building "A" in the Office Park Nové Butovice
2000 On 1st December, it starts managing the building Kateřinská Business Center in Prague for its tenant PriceWaterhouseCoopers
2001 In February, it launches the website of the Myslbek building, and from December 2002, the website of the IBC building.
2002 In February of this year, the parent company of RCP, AEW Europe, and the German company ERGO TRUST GmbH, together establish the PBW Real Estate Fund, which owns a portfolio created by the CDC Group, and focuses on modern properties built in Prague, Budapest and Warsaw. PBW Real Estate Fund is controlled by the company PBW Real Estate Asset Management.
2002 On 14th August, the IBC building is affected by the flood. RCP evacuates the tenants to the Myslbek palace, and actively participates in elimination of the damage.
2002 On 11th November, RCP changes its name to PBW Czech Republic s.r.o.
2003 From March, it provides the technical management of the building "D" in the Office Park Nové Butovice
2005 The company has 25 employees and 3 Managing Directors - Mr. Artur Mokrzycki, K. Böckenholt and J.Spanek.