The Next Estate Income Fund II, managed by BNP Paribas Real Estate, has bought the Blue Duo office scheme in Düsseldorf from Nordrheinische Ärzteversorgung, the North Rhine-Westphalia doctors’ pension fund.
The Next Estate Income Fund II, managed by BNP Paribas Real Estate, has bought the Blue Duo office scheme in Düsseldorf from Nordrheinische Ärzteversorgung, the North Rhine-Westphalia doctors’ pension fund.
Financial details were not disclosed.
Located in the Kennedydam business district, the scheme is mainly rented to KPMG for a term of about nine years. Completed in 2007 and 2013, the complex was financed by Natixis Pfandbriefbank and features 31,200 m2 of space as well as 631 parking places.
NEIF 2 is a pan-European Fund based in Luxembourg and invested by international institutional investors.
BNP Paribas Real Estate Investment Management was advised by law firm Linklaters. The North Rhine-Westphalia doctors’ pension fund was advised by JLL and law firm LLR.
