- Logistics platform acquisition in the centrally located Bjsterhuizen Life Science Campus
- Strong climate & ESG targets: reduce carbon emissions during the 10-year green lease signed with DHL Supply Chain
BNP Paribas Real Estate Investment Management (BNP Paribas REIM) recently acquired a Pharma Campus leased to DHL Supply Chain (DHL), for its European Impact Property Fund (EIPF), which was launched end of 2020. The property is located in the Bjsterhuizen business park in Nijmegen (the Netherlands). EIPF is a core open-ended property fund open to institutional investors and complying with the Article 9 under the EU’s Disclosure Regulation. It is the first fund launched by BNP Paribas REIM to embrace the 2015 Paris Agreement targets, laid out by the International Energy Agency (IEA).
The modern logistics centre features a total area of just below 35,000 sqm including roughly 31,000 sqm of warehouse space and 1,000 sqm of office space. The property, built in 1997 and modernized and expanded in 2000, is let to DHL Supply Chain. Located between the Dutch Randstad and the German Rhine-Ruhr region, it offers excellent access to several main European motorways. DHL Supply Chain, a wholly owned subsidiary of Deutsche Post AG, handles logistics activities for the pharmaceutical industry at the Bjsterhuizen business park.
During the holding period of the building, the fund intends to reduce greenhouse gas emissions of the property, in line with its ESG & climate policies. In the context of the transaction, the signature of a green lease was also an important achievement: DHL Supply Chain will commit to sustainable use and operation of the property as well as to reporting detailed key sustainability indicators to the fund. Definitely, the ambition to perform better is a shared goal with DHL Supply Chain, which intends to achieve carbon-neutral operations by 2050.
“The Pharma Campus, located in one of the logistics hotspot of the Netherlands, is EIPF’s first investment in the Dutch market, an attractive location for real estate investment because of its strong economy and central location in Northern Europe. Looking ahead, BNP Paribas REIM intends to increase its Dutch investment in the healthcare, logistics, residential and office sectors in 2022,” says Isabella Chacón Troidl, Chief Investment Officer and member of the management board of at BNP Paribas REIM Germany.
“Our European Impact Property Fund highlights our dedication to climate protection in the real estate sector. Our ambition is to fight climate change and make a positive and measurable impact on our environment. This acquisition is a new milestone for EIPF as it combines portfolio diversification with one of the most sought after asset type of the post Covid era and climate ambition, implementing a real partnership with DHL Supply Chain to reduce GHG emission and achieve a BREEAM in Use Very Good certification”, adds Laurent Ternisien, Chief Client Officer of BNP Paribas REIM and CEO of BNP Paribas REIM Luxembourg.
European Impact Property Fund is expected to reach a gross asset value (GAV) of over €1bn over the next few years. Its objective is to generate regular and stable income thanks to its highly diversified portfolio, by asset type and country.
Allen & Overy acted as legal advisor in the transaction and the deal was brokered by Cushman & Wakefield and 3Stone Real Estate. The parties involved have agreed not to disclose the purchase price.
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