BNP Paribas has acquired a Class A office building, Inno Plaza, located in the heart of the established Office district Euro Plaza in Vienna.
BNP Paribas REIM acquired the asset on behalf of its NEIF II fund (Next Estate Income Fund II), managed by BNP Paribas REIM Luxembourg.
The building offers 18,200 sqm Class A office accommodation to three grade A tenants in Vienna.
”We are delighted to announce the successful completion of the acquisition phase of NEIF II. As of today 100% of our investors’ capital is deployed through thirteen green certified buildings located in six different countries in the Eurozone. Since the launch of the Fund, our portfolio has delivered a total return above initial targets, we are now actively working on the asset management in order to carry on delivering outperformance to our investors until the maturity of the Fund,” said Laurent Boissin, Fund Advisor for the NEIF funds.
NEIF II is a Luxembourg closed-end fund offering diversification in the Eurozone office sector to international institutional investors. Its successor NEIF III is a Luxembourg open-ended fund with a target distribution yield of 4% p.a. The fund has already secured seven transactions for a total investment amount in excess of €500 mio.