Lone Star’s Value-Add Fund I has acquired the H20 office asset in Howald, Luxembourg from Nomura, Asia’s global investment bank. Although financial details were kept confidential, market rumours put the deal price of around €150 mln.
The asset was acquired by Lone Star following a competitive sales process launched in October 2020 and run by Savills Belux acting as sales agent on behalf of Nomura.
Located on 33 rue de Gasperich in the Howald district, and adjacent to the Cloche d’Or office cluster, the building is served by great car accessibility and excellent public transport links, which will be further strengthened by significant urbanization initiatives, the arrival of the tramline, and the renovation of the train station by 2023.
Delivered in 2005 with a contemporary design, glazed façade, the asset currently carries a BREEAM ‘Very Good’ rating. It encompasses more than 24,000 m2 of office space spread over three interconnected buildings and includes 819 parking spaces.
Lone Star plans to carry out an ambitious refurbishment project with redesigned common areas aiming to deliver high quality, sustainable, and flexible space.
Lone Star was advised by Jones Lang Lasalle, Allen & Overy, Ernst & Young, and Drees & Sommer. Nomura was advised by Savills, Linklaters, and KPMG Luxembourg.
