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BNP Paribas REIM acquires NOVE BY Citterio

HORUS DEVELOPMENT SELLS "NOVE BY CITTERIO" TO BNP PARIBAS REAL ESTATE INVESTMENT MANAGEMENT GERMANY GmbH

The purchase of the NOVE by Citterio building in Munich highlights the ability of BNP Paribas Real Estate Investment Management Germany GmbH to contribute of a purchase unique and high quality assets for our clients via innovative deals.

The 31,000 sqm office building was bought for an institutional client for whom we manage a vehicle with assets throughout Europe. The deal was a forward purchase of an asset that will be completed in mid 2017, a structure that has allowed our client to purchase a core asset before completion.

The building’s design, particularly the common areas, is based on the concept of a high-end hotel with the difference being that there are offices instead of hotel rooms on the upper floors. Of the 31,000 sqm of space, 27,000 sqm will be offices, with the remaining space used for gastronomy, retail and storage

Antonio Citterio, the globally renowned architect and designer based in Milan, is behind the building concept and interior design. Internationally renowned Swiss landscape architect Enzo Enea will be designing the outdoor space. NOVE was designed as a green building, meeting all the requirements for energy-efficient operation, and LEED Platinum certification is planned.