On June 17th 2014, BNP Paribas Real Estate Investment Management Luxembourg sealed the success of the first closing of Next Estate Income Fund II (NEIF II) with EUR 145 millions of firm commitments.
Domiciled in Luxembourg and managed by BNP Paribas Real Estate Investment Management Luxembourg acting as AIFM (Alternative Investment Fund Manager), NEIF II is an alternative investment fund registered with the CSSF.
Laurent Boissin, Investment Advisor of NEIF II explains that: « The objective of NEIF II is to form a pan-European portfolio of modern office properties, which are of very high environmental quality, let to Grade A tenants. By offering a diversified portfolio of core office properties in the Eurozone, this vehicle is mainly aimed at European institutional investors benefiting from limited access to this type of asset. The priority target markets are the five largest German cities and the Paris region, which will represent the largest part of the allocation. »
The AIFM is currently considering the potential acquisition of three assets for NEIF II, two located in Germany and one located in France. A further closing is scheduled for fall 2014.
BNP Paribas Real Estate Investment Management Luxembourg, AIFM, and BNP Paribas Real Estate Investment Services, Investment Advisor,are part of BNP Paribas Real Estate’s Investment Management business line, which manages nearly €18 billion of assets in seven European countries as at 31 December 2013.
Principal characteristics of NEIF II:
Vehicle : SICAV-SIF
Sector : Offices
Geographical Area : Eurozone
Term : 10 years
Investment period : 3 years
Max Target size : €800m
Max. LTV : 40%
Annual distribution : > 5%
About BNP Paribas Real Estate
BNP Paribas Real Estate, one of the leading international real estate providers, offers its 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 38 countries with more than 180 offices and 3,700 employees (17 wholly owned and 21 by its Alliance network that represents today more than 3,000 people). BNP Paribas Real Estate is a subsidiary of BNP Paribas.
For more information: realestate.bnpparibas.lu
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