BNP Paribas REIM sells several properties in Germany

BNP Paribas REIM Germany has sold further properties on behalf of an institutional investor from the insurance sector. The transactions were conducted within the context of the investor’s strategic repositioning of its real estate portfolio and took advantage of the favorable market situation.

BNP Paribas REIM Germany recently sold four properties off-market from the client’s diverse Germany portfolio: two office assets encompassing approximately 17,800 square meters (192,000 square feet) of rental space in the city of Nuremberg and two featuring around 10,500 square meters (113,000 square feet) of rental space in Cologne.

“The successful sales show that our transaction competence covers a wide field. In addition to the classic core assets in A-cities, we cover B- and C-cities not belonging to the core segment and special properties, too,” said Isabella Chacón Troidl, who is in charge of real estate transaction and asset management within the management board of BNP Paribas REIM Germany.

Preparations are currently under way to dispose of additional properties medium-term. The planned transactions will feature core-plus and value-add commercial assets, mostly in the office segment and located in B- and C-cities. Most of the properties remaining in the portfolio are situated in the German state of North Rhine-Westphalia and in the Frankfurt metropolitan area.