BNP Paribas REIM completes NEIF II Fund last investment with the acquisition of
Inno Plaza building in Vienna that was signed in December 2017. The incoming LEED Gold office complex is located in the heart of the established Office district Euro Plaza. This brand new building offers 18,200 sqm Class A office accommodation to three grade A tenants.
The asset will settle in the fully green certified NEIF II Fund representing now more than €900 mio GAV and should contribute in outperforming the IPD/MSCI benchmark again in 2019.
Laurent Boissin, Fund Advisor for the NEIF funds, comments:
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.
BNP Paribas REIM acquired the asset on behalf of its NEIF II fund (Next Estate Income Fund II), managed by BNP Paribas REIM Luxembourg.
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.