BNP Paribas REIM, acting on behalf of NEIF II (Next Estate Income Fund II), has acquired the Inno Plaza building in Vienna from the Austrian developers S+B Gruppe AG and List Group. This new transaction will bring the Fund size above €800m with 12 assets held across 6 countries within the Eurozone.
The property is located in the Euro Plaza district, a newly established submarket of Vienna. The development totals 12,500 m² of lettable office area and will be delivered in the second half of 2018 with a LEED Platinum green certification. The property enjoys an excellent connection to the public transport and has a direct access to the Meidling underground/rail station.
Laurent Boissin, Fund Advisor of NEIF II, commented: “This first transaction in Austria strengthens the geographic diversification of the portfolio in the main gateway cities of the Eurozone. This deal fully supports the fund’s strategy to allocate capital to sustainable buildings benefiting from a competitive edge to attract grade A tenants.”
NEIF II (Next Estate Income Fund II), managed by BNP Paribas REIM Luxembourg, is a pan-European office fund offering diversification in the Eurozone to international institutional investors. Its successor Fund NEIF III (Next Estate Income Fund III) has been launched in 2017 with more than €150m equity raised and 3 transactions secured in Germany.
