GLACIS, THE NEW ACQUISITION BY BNP PARIBAS REAL ESTATE INVESTMENT MANAGEMENT LUXEMBOURG SA
The Next Estate Income Fund II has built on the success of its predecessor in purchasing core office assets across Europe that provide long-term, stable income for investors.
Our pan-European expertise allows us to buy high quality assets in markets we feel are well-positioned for long-term growth.
In this regard, last year on behalf of the fund we bought building A of the Business Center Glacis in Luxembourg.
Located in the Limpertsberg district, a recognised office location on the fringe of Luxembourg’s central business district, the building comprises 5,100 sq m of prime office space.
Our local team allowed us to identify an asset which is set to benefit from changes in the city’s infrastructure. Delivered in 2004, the property should benefit in 2020 from the first tram line of Luxembourg City, with a tramway station located in the immediate vicinity. The property is let to well-known tenants including a leading custodian bank and a global specialist law firm.
NEIF II is a Luxembourg-based regulated pan-European Fund managed by BNP Paribas Real Estate Investment Management Luxembourg SA. It offers diversification in the Eurozone office sector to international institutional investors with a distribution objective of 5%.