BNP Paribas REIM sells several properties in Cologne and Nuremberg
BNP Paribas REIM Germany recently 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 favourable market situation.
BNP Paribas REIM Germany recently sold four properties off-market from the client's diverse Germany portfolio: two office assets encompassing roughly 17,800 sqm of rental space in the city of Nuremberg and two featuring around 10,500 sqm 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”, underlined Isabella Chacón Troidl in charge of ‘Real Estate Transaction’ and ‘Asset Management’ within the Management Board of BNP Paribas REIM Germany.
Preparations are currently underway to dispose of additional properties medium-term. The planned transactions will feature core+ 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.