Aviva Investors and LaSalle Investment Management have purchased an office property in Luxembourg from Commerzbank for an undisclosed sum.
Called Gravity, the 12,500 m2 asset has been acquired on behalf of the Encore+ pan-European fund, marking its first acquisition in Luxembourg.
'The acquisition fits well with our strategy of investing in quality assets in attractive and sustainable European locations, and strengthens the geographic diversification of the portfolio,' commented Jeffrey King, fund manager for Encore+ at Aviva Investors.
Located in the Kirchberg district of Luxembourg, the six-floor property is occupied by Commerzbank and Julius Baer. Vendor Commerzbank will remain in the building.
Encore+ is a diversified, open-ended continental European real estate fund which is co-managed by Aviva Investors as fund manager and LaSalle Investment Management as asset and transaction manager.
