Commerz Real is winding up its closed-end real estate fund CFB 150 with the disposal of the European statistical office’s headquarters in Luxembourg for €168m.
The manager has sold the Joseph-Bech-Building located on Rue Alphonse Weicker in the Kirchberg Plateau district, occupied by Eurostat, to an undisclosed buyer. The 42,500sqm office asset has been owned by the CFB 150 fund since 2004
The manager said the fund will be liquidated following the sale of the property, and the investors will receive total distributions of around 158% relative to their invested capital. With a term of 14 years this corresponds to an average annual return of around 4.5%.