BNP Paribas Real Estate Investment Management (REIM) has bought a building located on 61 rue des Cloys in the 18th arrondissement of Paris, on behalf of its European Impact Property Fund (EIPF), launched in late 2020. The Haussmann-style building, which offers 1,700m², comprises seven levels and features long balconies on the second and fifth floors. The complex consist of 30 apartments and two shops on the ground floor. It is located in the Ordener district, in a predominantly residential environment, with many stores and restaurants nearby. The asset also enjoys excellent access to public transport with immediate proximity to several metro stations and bus stops.
This is the first acquisition in France for the European Impact Property Fund (EIPF). The fund, through diversified investments in Europe, offers international institutional investors a way to get involved in an ambitious investment approach with an environmental impact. The purchase price was not disclosed.
“This acquisition on behalf of EIPF shows BNP Paribas REIM’s interest for the residential asset class and above all our ESG commitments while allowing for strong performance thanks to resilient and sustainable assets”, said Guillaume Delattre, Chief Investment Officer of BNP Paribas REIM France.
“This building fits perfectly with the fund's strategy to deliver a positive impact on assets in the portfolio by significantly reducing greenhouse gas (GHG) emissions in the coming years. BNP Paribas REIM's experience in this area will thereby be applied to a new type of investment asset”, added Laurent Ternisien, Chief Client Officer of BNP Paribas REIM and CEO of BNP Paribas REIM Luxembourg.