Düsseldorf-based Acron Group has obtained a €47.5 mln loan from Münchener Hypothekenbank for the purchase of a sustainable office building in Luxembourg.
Wooden is the largest office building built in Luxembourg from sustainable high-tech wood structure.
The six-story property was completed at the end of 2022 by co-developers Iko Real Estate and BPI Real Estate, with the participation of international architecture firm Art & Build Architect.
It was built using regional raw materials as well as wood from PEFC-certified forests and is certified according to the international sustainability standards BREEAM Excellent and WELL Building.
The total of 9,500 m2 of office space is fully let, with the main occupant being insurance company Bâloise Luxembourg, which is currently relocating its HQ to this new site.
Dr. Holger Horn, CEO of Münchener Hypothekenbank, said: ‘We are pleased to be able to accompany the financing of this future-oriented project in an attractive location. The transaction once again underlines the success of our strategic approach to expand the ESG-compliant loan portfolio.’
Kai Bender, CIO of Acron, added: ‘Acron's ambition is to combine environmental-sustainable factors with economic-sustainable factors, which is why it is important to have the right partners at our side. With Wooden, we are responding to the change in the office asset class and the changing work culture.’
Law firm Clifford Chance supported Münchener Hypothekenbank in this transaction.
