German property investment fund KanAm grundinvest Fonds has acquired the Espace Petrusse development located in the central business district of the City of Luxembourg for EUR 109 mln. Once completed, the development will be the future headquarter of the world's largest steel company Arcelor Mittal on a 10-year leasing contract.
German property investment fund KanAm grundinvest Fonds has acquired the Espace Petrusse development located in the central business district of the City of Luxembourg for EUR 109 mln. Once completed, the development will be the future headquarter of the world's largest steel company Arcelor Mittal on a 10-year leasing contract.
The office development, located close to the old district of the city, will include two towers providing some 19,000 m2 over six storeys, plus three underground levels with 176 parking spaces. Completion is expected in May 2008. The office project is part of a larger complex that includes hotels and dwellings, KanAm said in a press release.
