BNP Paribas Real Estate Investment Management (REIM) has acquired an office building in D眉sseldorf, Germany, on behalf of an unnamed investor from the Middle East.
The historic bank building at Breite Strasse was taken over for a sum in the high double-digit million euros. The asset is being held in a Luxembourg vehicle.
The building comprises three structures of two and seven floors respectively and two basement storeys providing a total rental area of about 19,000 m2. Since its completion in 1912, the building has been comprehensively modernised several times and is currently fully let. BNP Paribas REIM is also responsible for the asset management of the property.
鈥榃ith this property, our client is acquiring a first-class yield product in an environment that features constant demand for high-grade office premises,鈥� said Reinhard Mattern, CEO of BNP Paribas REIM Germany.鈥楩rom deal sourcing via financing and due diligence through to structuring in Luxembourg, we were able to offer our client all-round service.鈥�
