BNP Paribas REIM has acquired “H.Trium Office”, a newly developed office building in Munich, from ISARIA Wohnbau AG. The 4,300m² property benefits from an optimal location in the heart of Westend district with excellent transport links and offers modern and flexible rental spaces. Delivered in July 2019, the building is expected to qualify for a BREEAM certification by 2020. The property is part of a development project undertaken by ISARIA Wohnbau AG which aims to create a modern and green district for living and working in the Bavaria’s capital. The purchase price was not disclosed.
“We are proud of this off-market deal in the highly competitive Munich market. The development is located in a district with clear upward potential representing an interesting opportunity for our investors”, said Isabella Chacon Troidl, Chief Investment Officer and Managing Director of BNP Paribas REIM Germany.
Jean-Maxime Jouis, Director in charge of Fund Management at BNP Paribas REIM France, commented: “H.Trium Office is the third acquisition of our dedicated fund Opus Real. We will continue to further invest in Geman top cities and strengthen the position of Opus Real in the German real estate market which offers strong fundamentals and outstanding investment opportunities. In addition, the low vacancy rate in Westend of Munich along with the significant rental increase potential ensures secure cash flows.”