Belgian-based real estate investor Pylos and Belfius Bank have sold a newly developed office property in a prime location in Luxembourg to the local division of insurance group AXA.
Belgian-based real estate investor Pylos and Belfius Bank have sold a newly developed office property in a prime location in Luxembourg to the local division of insurance group AXA.
The property, StarGate, comprises a total surface area of 6,835 m2. AXA Luxembourg will use the building as its headquarters, sharing it with one other tenant.
The financial details of the transaction, which was completed in October, have not been disclosed.
As part of a cross-purchase and sales agreement, Pylos and Belfius have also acquired AXA Luxembourg’s former headquarters known as City Link. The buyers intend to redevelop 4,000 m2 of prime office space at the property.
Pylos was founded by Edward De Nève and Vincent Boutens in early 2001. Since then the company has delivered 126,000 m2 of projects with a total value of EUR 360 mln. The company is active in Belgium, Luxembourg, France, Switzerland and Brazil.
Belfius was formerly known as Dexia Bank.
