BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has acquired a Pharma Campus in Nijmegen, in the Netherlands, on behalf of its European Impact Property Fund (EIPF) launched end of 2020. The parties agreed not to disclose the purchase price.
EIPF is a core open-ended property fund open to institutional investors and is the first fund launched by BNP Paribas REIM to embrace the 2015 Paris Agreement targets, laid out by the International Energy Agency (IEA).
The Pharma Campus is situated in the Bjsterhuizen business park in Nijmegen, in the Netherlands. Located between the Dutch Randstad and the German Rhine-Ruhr region, the modern logistics centre features a total area of just below 35,000 m2 including roughly 31,000 m2 of warehouse space and 1,000 m2 of office space.
The property, built in 1997 and modernized and expanded in 2000, is let to DHL Supply Chain.
’The Pharma Campus, located in one of the logistics hotspot of the Netherlands, is EIPF’s first investment in the Dutch market, an attractive location for real estate investment because of its strong economy and central location in Northern Europe. Looking ahead, BNP Paribas REIM intends to increase its Dutch investment in the healthcare, logistics, residential and office sectors in 2022,’ said Isabella Chacón Troidl, Chief Investment Officer and member of the management board of at BNP Paribas REIM Germany.
’Our European Impact Property Fund highlights our dedication to climate protection in the real estate sector. Our ambition is to fight climate change and make a positive and measurable impact on our environment. This acquisition is a new milestone for EIPF as it combines portfolio diversification with one of the most sought after asset type of the post Covid era and climate ambition, implementing a real partnership with DHL Supply Chain to reduce GHG emission and achieve a BREEAM in Use Very Good certification,’ added Laurent Ternisien, Chief Client Officer of BNP Paribas REIM and CEO of BNP Paribas REIM Luxembourg.
European Impact Property Fund is expected to reach a gross asset value (GAV) of over €1 bn over the next few years.
Allen & Overy acted as legal advisor in the transaction and the deal was brokered by Cushman & Wakefield and 3Stone Real Estate.
