Edmond de Rothschild REIM acquires prime office building in Luxembourg from Nextensa
Edmond de Rothschild Real Estate Investment Management has acquired a prime office building in the heart of the financial district of Kirchberg in Luxembourg. The property, located on Rue Jean Monnet 4, extends over 4,000 sqm and is fully let to several strong financial tenants.
This off-market transaction was performed by Edmond de Rothschild REIM’s Benelux team on behalf of its Benelux Commercial Real Estate Fund.
Robbert Bakhuijsen, Head of Investment Benelux at Edmond de Rothschild REIM, said: "With this acquisition we further diversify our fund exposure to Luxembourg with a core asset in one of the best performing districts. We will continue to acquire office assets with similar profile throughout the Benelux.”
Edmond de Rothschild REIM was advised by Cushman & Wakefield, Loyens & Loeff and SGS Search, whereas Nextensa was advised by PWC Legal.
The open-ended special fund, Benelux Commercial Real Estate Fund (BCREF), was launched in December 2016 to invest in office properties in the Netherlands, Belgium, and Luxembourg. The fund’s focus is on properties with diversified cash flows located in economically strong cities. With this acquisition, the market value of the portfolio exceeds EUR 550 million.
DISCLAIMER
Benelux Commercial Real Estate Fund is reserved exclusively for professional investors and might come with restrictions for certain persons and in certain countries. The fund does not guarantee or protect the capital invested, so investors may not recover the full amount of their initial capital invested even if they retain their units for the recommended investment period. Any investment in Benelux Commercial Real Estate Fund involves exposure to certain risks and not limited to liquidity risk, concentration risk (Real Estate investments) and currency risk. Any investment in Benelux Commercial Real Estate Fund may in any event only be made on the basis of documents and information that comply prevailing regulations.