NEIF II Fund (Next Estate Income Fund II), acquires the German headquarter of Fiat Chrysler Automobiles in Frankfurt – from the German developer “Lang & Cie”. This new transaction brings the Fund size close to €750 million.
Located in the Ostend district, in the Lindley quartier, a newly office area in Frankfurt, this building has an internal area of approx. 10,000 sqm. The property has just been delivered and obtained a LEED Gold green pre-certification. It benefits from a good access by public transportation and has a quick access to the ring road. The property is fully occupied by Fiat Chrysler Automobiles, the world’s seventh-largest car manufacturer.
For Laurent Boissin, Fund Advisor of NEIF II Fund: “this fourth transaction in Germany strengthens the allocation of the Fund to Core markets in the Eurozone with a focus on sustainable assets. The long lease duration coupled with excellent financing conditions support the long-term income distribution profile of the Fund.”
NEIF II fund (Next Estate Income Fund II) managed by BNP Paribas REIM Luxembourg, is a pan-European fund offering diversification in the Eurozone office sector to international institutional investors with a yield target of 5% p.a.
The transaction has been financed by the German bank BayernLB.
