French real estate asset manager BNP Paribas REIM said on Tuesday that it has received approval from the French securities market regulator AMF for the launch of a new SCPI vehicle which will invest in corporate and office real estate in the country. Primopierre, which will be marketed from next month, aims to raise funds of EUR 100 mln from investors. In a statement, BNP Paribas said that the fund is 'in advanced talks' to acquire the first real estate assets. The funds will be marketed by Primonial, a joint venture of BNP Paribas REIM and Patrimoine Management & Associes.
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