BNP Paribas Real Estate Investment Management Germany and Cording Real Estate Group have launched a new real estate ‘spezialfond’. The Real Value Fund has a target equity volume of €150m and will invest in value-add properties. Its first purchase is the 64-meter Media Tower in Dusseldorf. Completed in 2006, the project offers 9,000 sqm of flexible space. It is currently 50 percent leased. Cording is planning to reposition and refurbish the property.
