BNP Paribas REIM has acquired the Allure building in the Clichy-Levallois district of Paris.
The property, which was previously owned by CarVal Investors and Left Bank, is located right next to the Clichy-Levallois train station and the So Ouest shopping centre. Allure was entirely refurbished in 2016 and has a BREEAM and dual BBC / Effinergie certification. This 9-floor building houses a number of tenants and has several terraces and patios. Allure is hyper-connected, ecologically sustainable and flexible, with plenty of advantages: location, immediate proximity to Paris and a high-quality working environment.
The asset has been acquired for the fund NEIF II managed by BNP Paribas REIM Luxembourg structured via an OPCI managed by BNP Paribas REIM France.
NEIF II fund (Next Estate Income Fund II) is a pan-European fund offering diversification in the Eurozone office sector to international institutional investors with a yield target of 5% p.a.
Laurent Boissin, Investment Advisor for the NEIF II fund, said: "This is the 11th transaction by NEIF II fund, contributing to the geographic diversification of the portfolio in the main cities of the Eurozone. It also reflects our intention to form a portfolio of buildings that meet tenants’ expectations but also those of investors in terms of the ecological sustainability of their assets”.