BNP Paribas REIM adds €50m for pan-European, open-ended fund
Next Estate Income Fund III (NEIF III), a pan-European, open-ended fund managed by BNP Paribas REIM, has secured an additional €50 million ($53 million) from two new European institutional investors in the first quarter of 2022, bringing the total number of commitments to €568 million ($597 million).
This gives the fund a total investment capacity of more than €900 million ($946 million).
Launched in 2017, NEIF III gives institutional investors an opportunity to diversify internationally in the office sector in key Eurozone cities, with a clear ambition to make environmental and social issues central to its strategy. The fund aims to build a portfolio of assets with a consistently good environmental label or targeting a valid certification before upgrading the certification by two levels within two years of its acquisition.
NEIF III already has an established asset base and a rapid deployment timeframe, with high visibility for new investors wishing to joi