Frankfurt: BNP Paribas REIM buys office building in Schwedler-Carré


BNP Paribas REIM has bought the office building used by advertising agency Publicis in Frankfurt for its open-ended fund Diversipierre. The seller, TD learned, is Amundi. The asset manager had acquired the property from Union Investment in 2015 with the Aqua-Portfolio. The structure was built in 2009 as the second phase of the Schwedler-Carré developed by Max Baum Immobilien in the city’s Ostend. The investment volume was quoted at about €25mn at the time. The building has about 260 sqm retail and 7,500 sqm office space.

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