BNP Paribas Real Estate Investment Services’ new investment fund has raised approximately €220 million, PropertyEU reports. The specialized unit of the financial services group BNP Paribas, which has obtained the money from two unnamed French life insurers, was advised by law firm Jones Day.

The vehicle, which will be managed by BNP Paribas Real Estate, has signed an opening contract to buy two office development projects in the Ile de France region from BNP Paribas Immobilier Résidentiel’s development division. The company did not disclose the names of the projects being acquired.

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