REInvest Asset Management has invested €65m to buy an office asset in Luxembourg from the developers Nextensa and Promobe.
The real estate investment manager said it has acquired the fully-let Bronze Gate office property on behalf of DEREIF SICAV-FIS, a European real estate fund backed by a “major German insurance company”.
The Bronze Gate asset is located at 5, Rue Charles Darwin in the new part of the Cloche d’Or quarter in Luxembourg City.
Daniel Hohls-Larsson, the head of transaction international and project manager at REInvest, said: “We are delighted to have acquired Bronze Gate, a modern and sustainable office property in the ever-growing southern gateway to Luxembourg City.
“The Luxembourg real estate market, with its favourable underlying conditions, offers very good investment opportunities, as is evident from the early and long-term full occupancy of the property.”
Hans Stuckart, managing director of REInvest, said: “With Bronze Gate, we have secured a modern office property for our DEREIF SICAV-FIS real estate fund, fully let over the long term.
“The location is forward-looking and one of the up-and-coming districts in Luxembourg. We have also achieved high standards in the building’s ESG features.”
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