BNP Paribas REIM has acquired the Frankfurt headquarter of Fiat Chrysler Automobiles from the German developer Lang & Cie. The transaction was made on behalf of NEIF II Fund (Next Estate Income Fund II), and brings the Fund size close to €750m.
Located in the Ostend district, in the Lindley quartier, a new office area in Frankfurt, this building has an internal area of approx. 10,000 m². The property has just been delivered and obtained a LEED Gold green pre-certification. It benefits from a good access by public transportation and has a quick access to the ring road. The property is fully occupied by Fiat Chrysler Automobiles, the world’s seventh-largest car manufacturer.
Laurent Boissin, Fund Advisor of NEIF II Fund, commented: “This fourth transaction in Germany strengthens the allocation of the Fund to Core markets in the Eurozone with a focus on sustainable assets. The long lease duration coupled with excellent financing conditions support the long-term income distribution profile of the Fund.”
The transaction has been financed by the German bank BayernLB.
