IVG Institutional Funds (IVG IF) has acquired M2, an office and retail property delivered in June 2010, from the developer Mavin Property Fund.
IVG Institutional Funds (IVG IF) has acquired M2, an office and retail property delivered in June 2010, from the developer Mavin Property Fund.
The acquisition price amounts to €45 mln.
The property is located on Avenue de la Gare 42-44 in the heart of the station district, which boasts one of the lowest vacancy rates in all of Luxembourg (about 3%). It is let to tenants including H&M, Maisons du Monde and Veritas for the retail areas and Regus, Luxembourg Finance House and Rovi Internationals for the office areas.
The property has a lettable space of around 6,600 m2 including 2,700 m2 of retail space and 3,600 m2 of office accommodation. It also has an archive of 300 m2.
IVG IF was advised by Baker&McKenzie while Mavin Property Fund was advised by CBRE and Loyens&Loeff.
