BNP Paribas REIM, acting on behalf of its Next Estate Income Fund III (NEIF III), managed by BNP Paribas REIM Luxembourg, has acquired the Franklin Haus office building in Berlin, Germany. The property is expected to be delivered the end of 2020 and targets a LEED Gold green certification. Located close to the city centre in Charlottenburg, the asset features approx. 11,000m² of lettable area. This district benefits from its proximity to the Tiergarten, an improving mixed-use area of Berlin. With the Ernst-Reuter-Platz U-Bahn station and Tiergarten S-Bahn station located in the immediate proximity, the complex is easily accessible via public transport. The purchase price was not disclosed.
Laurent Boissin, Fund Advisor for the NEIF III Fund commented: “With Franklin Haus, we are in the process of acquiring the first asset in Berlin for NEIF III in an off-market transaction. Since inception, NEIF III has already secured more than €400m equity commitments from institutional investors and has allocated close to €450m investments across the Eurozone”.
