BNP Paribas REIM has acquired an 11,000 m2 office building in Ratingen, Germany, from LaSalle Investment Management, on behalf of its SCPI Opus Real.
Financial details were not disclosed.
The building is located in the established office market of Ratingen East, in the immediate vicinity of Düsseldorf, Germany’s seventh largest city.
The asset was delivered in 2009 and has Leed Platinum and wired score silver certifications. The asset benefits from a diversified rental situation with 12 quality tenants and secured cash flows for the next four years, according to the firm.
Jean-Maxime Jouis, global head of fund management for the business line BNP Paribas REIM, said: 'This acquisition strengthens the Opus Real portfolio and fits in perfectly with the fund’s strategy by adding a modern and certified asset that offers multi-tenant use and is located in a strategic office location in Ratingen.
'In addition, the tenants’ diversification and low risk profiles ensure stable cash flows.'
BNP Paribas REIM France launched the SCPI Opus Real, a French regulated fund dedicated to private clients in 2017. The fund currently holds a portfolio of five properties with a total value of approximately €170 mln.
Opus Real aims to acquire a diversified portfolio consisting mainly of commercial real estate assets in Germany. The remainder of the fund's portfolio consists of three office assets located in Bad Homburg (Frankfurt region), Munich and Bremen, as well as a hotel, also located in Munich.
Isabella Chacón Troidl, chief investment officer of BNP Paribas REIM Gemany, said: 'With the Zwei-Scheiben-Haus we are securing a premium property for our investors at an excellent location.'
BNP Paribas REIM was advised by Hogan Lovells on the legal audit and by Orange Recon on the technical audit of the building.
