BNP Paribas REIM France, acting on behalf of the OPCI BNP Paribas Diversipierre, BNP Paribas Cardif and Sogecap (Société Générale Insurance) closed a club deal and acquired Horizon, a 24,000 sq m building development in Düsseldorf, from Die Developer Projektentwicklung (ddp). The deal had been secured back in July 2016. Property sourcing and Transaction management were carried out by BNP Paribas REIM Germany, who are also in charge of Asset Management.
Upon completion in December 2017, the tenant L’Oréal Germany GmbH moved 950 of their employees into the 24,000-sqm-building at the end of December 2017.
Following the development of “Kö-Bogen”, also a building of ddp, the new Horizon project was conceived not only as a leader in sustainable offices but also as a stunning new landmark of Düsseldorf.
The building now stands as a gateway to Kennedydamm and the city centre. It benefits from both its proximity to the central business district and easy access to the city’s airport. The large floors (up to 2,000 sqm) are designed for flexible use in line with new workplace trends, one of the tenant´s most important criteria.
Horizon is of significant architectural interest, adorned with numerous terraces offering panoramic views over the city and with an excellent array of services for the occupier. The building is also characterised by its prestigious environmental credentials and has obtained gold-level DGNB* environmental certification.
BNP Paribas Diversipierre is an OPCI for private clients managed by BNP Paribas REIM France that combines real estate and real estate-related financial investments. The net assets of BNP Paribas Diversipierre as of 29th December 2017 stood at around €1,1 billion.
JLL and PWC Legal advised the seller ddp and the law firm Herbert Smith Freehills advised the three co-investors.
* DGNB (German sustainable construction company) awards the Sustainable Construction quality label to real estate assets that satisfy predefined sustainability criteria, with several categories: Gold, Silver, Bronze and Certified.