BNP Paribas REIM has acquired Manoteras 48, an office property in Madrid, on behalf of its Next Estate Income Fund III (NEIF III).
NEIF III, a Luxembourg open-ended fund, has already secured one transaction in France, three in Germany and two in Spain.
“With this second closing in Spain after the acquisition of D38 in Barcelona in July 2019, NEIF III is continuously increasing its size and diversification,” said Laurent Boissin, fund adviser of the NEIF funds. “With NEIF, NEIF II and NEIF III, we are offering since 2010 a unique opportunity to institutional investors to increase their exposure to green certified office investments in the euro zone.”
The fund has raised more than €1 billion ($1.09 billion) with a gross asset value of close to €1.5 billion ($1.6 billion) for the NEIF strategies.
Manoteras 48 is comprised of two independent buildings spanning 13,000 square meters (139,930 square feet). The asset is strategically located within th
