BNP Paribas REIM has acquired an office building in Clichy-La-Garenne on behalf of Next Estate Income Fund III (NEIF III), which is managed by BNP Paribas REIM Luxembourg. The building is next to the ring road, in the mixed development zone of ZAC Entrée de Ville de Clichy. It boasts remarkable visibility and natural light, thanks to its largely glazed facades, which offer unobstructed views to landmark Paris monuments. Its strategic location, right next to the new line 14 (Clichy – Saint Ouen station) connects it swiftly to the main Parisian hubs.
The building was completed at the end of 2018 and has 9,600m² of floor space within a superstructure of 12 floors and 62 parking places in its infrastructure. It is part of a property cluster totalling 17,000m², which also features a hotel operated by an international hotel group. The asset is certified BREEAM “Very Good” and HQE “Excellent” and offers its occupier a modern workplace that fosters innovation and interaction.
Guillaume Delattre, Chief Investment Officer of BNP Paribas REIM France, comments: “We are particularly proud of this new major off-market transaction. This latest generation office building provides high-quality services to its occupier, whose move confirms the robust economic trend of a district that is being transformed, notably with the arrival of metro line 14, which connects to the centre of Paris in just a few minutes”.
Laurent Boissin, Fund Advisor of NEIF III, observes: “The fund continues to diversify its portfolio with this ninth investment, in one of the most liquid office districts in the Eurozone. This acquisition embodies our strategy of selecting new or recent assets with demanding environmental certification that are able to attract Grade A tenants”.