BNP Paribas Real Estate Investment Management (REIM) Germany recently acquired a high-end office building in Ratingen, Germany, for French mutual real estate fund BNP Paribas SCPI Opus Real, which primarily invests in German commercial properties. The seller is LaSalle Investment Management Kapitalverwaltungsgesellschaft (LaSalle KVG), which originally bought the property in 2011. The property comprises three sections and was built 2009. The modern 5-7-storey building complex, which encompasses roughly 10,000 sqm of flexible office space, has a new-build feel and is certified under LEED Platinum and Wired Score Silver. The Zwei-Scheiben-Haus asset is located in the east of Ratingen, an area that has become a significant office location in recent years, popular with both tenants and their employees thanks to its excellent access to transportation and proximity to Düsseldorf, the airport and the Ruhr region. The contracting parties have agreed not to disclose the purchase price.
“In the Zwei-Scheiben-Haus property we have acquired a premium asset in an excellent location for our investors,” explains Isabella Chacón Troidl, Chief Investment Officer of BNP Paribas REIM Germany. “The east of Ratingen is a well-established submarket of the Düsseldorf office real estate market and continues to enjoy high demand and low vacancy. The asset’s age, micro location, rent level and quality make it a high-end property that will reap exceptional benefits from future trends in this popular office location.”
The Zwei-Scheiben-Haus property was completed in 2011 on a site encompassing 9,900 sqm. The property is made up of two cube-shaped building sections connected via a single-storey base. A company restaurant and cafeteria with outdoor seating connect the two sections and provide a great space for meeting and exchange. The larger of the two building sections features roughly 7,000 sqm of office space on 7 upper floors and the smaller of the two has five upper floors featuring around 3,500 sqm of usable area. Tenants have access to around 250 parking spaces located on the two basement levels and outdoors. The property enjoys a well-diversified tenant mix of 12 tenants from different sectors and is currently almost fully let.
The BNP Paribas SCPI Opus Real fund was launched in 2017 and is structured for private investors in France. The fund primarily invests in commercial real estate (office, logistics) in Germany, particularly in the country’s Big 7 as well as in established secondary cities.
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