Swedish family-owned business Stena Realty has sold a prime Rue Brasseur building in Luxembourg City to the Baltisse Group for an undisclosed amount.
The Brasseur Building provides around 4,200 m2 of space and 68 parking spaces and is leased entirely to Banque Privée Edmond de Rothschild.
'We have successfully owned the property for a long period as a very well running investment,' said Ronald Visscher, managing director of Stena Realty. 'The sale fits the strategy to operate in strategic markets and timely execute on buy-hold-sell analyses. We are already reinvesting our returns.'
'The quality of the assets, their location and the potential for redevelopment are the criteria that guide our choices,' added Alex De Witte, director Real Estate of the Group Baltisse.
Stena was advised by JLL, DLA Piper and Thewes & Reuter.
Stena is active in Real Estate, Ferry Operations, Offshore Drilling, Shipping, Finance and New Business. It owns properties in the Netherlands, France, Germany, UK, Hungary, and the United States.
