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BNP Paribas REIM announces that new closings occurred on the “Next Estate Income Fund III” (NEIF III) in the last quarters and that the fund has reached an aggregate of EUR 475mn of equity commitments. The fund is an open-end vehicle with a strategy focusing exclusively on core and green office buildings in the key cities of the Eurozone.
The fund was launched in 2017 while additional closings took place in 2018 and early 2019. The current group of investors consists of institutional investors from six European countries, providing an investment capacity of approx. €700mn.
“More than EUR 1.2 billion have been raised in total for the Next Estate Income Funds line. These funds benefit from a strong “repeat investors” ratio with several investors committed in all three funds. NEIF III perfectly meets the requirements of pension funds and insurance companies looking for Core Office exposure to the most long-term attractive cities of the continent along with a manager demonstrating an established and solid track-record” comments Henri Romnicianu, Head of Institutional Clients, Europe.
NEIF III is a SICAV-SIF based in Luxembourg. This open-end European Office fund managed by BNP Paribas REIM Luxembourg offers diversification in the Eurozone office sector to international institutional investors with a target distribution yield of 4% p.a and a strong focus on sustainability.
The shareholder capital invested in the fund is neither guaranteed nor protected. Past performance is no guarantee of future performance.