BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has acquired a residential asset for its open-ended mutual fund BNP Paribas Diversipierre.
The target property is a state-of-the-art residential complex located in Hamburg’s Bergedorf district in Germany. The asset was sold by the HT Group based in Hamburg.
The transaction is intended to achieve two strategic goals targeted by the fund’s management for 2022 — building a residential-asset portfolio for the fund and strengthening regional diversification in the target region of Europe. The acquired portfolio encompasses six multi-family buildings, with five to six stories each and featuring 155 apartments, a total area of about 13,000 square meters (322,917 square feet) and 138 parking spaces. All apartments were completed in 2010, have universal access, come with high-end fixtures and fittings, including built-in kitchens and balconies, and were designed with young couples and families in mind.
