2020-01-23 8:00 CET, Europe, Germany, Luxembourg | Investment Management | Press release
Munich-based investment manager Catella Real Estate AG has acquired an office building in 7 Rue Thomas Edison, Strassen, Luxembourg for its fund Sarasin Sustainable Properties – European Cities (SSP). The Sarasin Sustainable Properties – European Cities fund is a product of Catella Real Estate AG in cooperation with the Bank J. Safra Sarasin.
The Property consists of two adjacent office blocks comprising 7,865 sqm, which are fully let to two Luxembourg governmental institutions and Banque Internationale à Luxembourg. The buildings were constructed in 2000. The premises of the governmental tenants had been fully renovated prior to lease start in 2018.
The building complex is located in Strassen, along the western gateway into the city, which is just 4km away. CSSF established its headquarters alongside Route d’Arlon in immediate vicinity of the property, contributing to the arrival of many companies. Strassen has experienced positive development in recent years. Further increase in demand is expected due to the projected tram extension along Route d’Arlon, which was presented by the Minister of Sustainable Development and Infrastructure on June 11th of 2018 and will significantly improve the attractiveness of the micro location in the coming years. The Property is already easily accessible by both public and private transportation as it is situated 500m away from the A6 motorway access.
“This investment complements our existing presence in the BeNeLux region and is an important strategic expansion of our allocation,” says Axel Bertram, Portfolio Manager of SSP – European Cities at Catella Real Estate AG.
The fund, which invests at least 75% of its capital in commercial property, aims specifically to meet the needs of institutional investors in Switzerland, Austria and Germany. Each building has to meet the sustainability standards of the Bank J. Safra Sarasin.
Catella Real Estate AG was advised by Stibbe, EY and Pro Group. Inowai acted on behalf of the seller. The acquisition was managed by Catella Investment Management Benelux, an affiliate of Catella Real Estate AG based in Maastricht, which will take over the asset management of the property.
----
About Catella Real Estate AG
Catella Real Estate AG (CREAG), headquartered in Munich / Germany, is part of the Catella Group. Catella Real Estate AG is a pan-European operating a fund manager providing several highly specialised investment products with a European focus that are not affiliated with a special banc. It focuses on real estate in international markets and has an outstanding network supplemented by local advisers. CREAG currently manages EUR 2.3 billion of assets under management in 16 real estate funds (as of June 2019).
For more information please contact:
Birgit Wehrmann
Marketing & PR Manager
Catella Real Estate AG
Alter Hof 5
D-80331 München
M: + 49 (0)172 719 8970
E: Birgit.Wehrmann@catella-investment.com
----
About Catella Investment Management Benelux (CIMB)
Catella Investment Management Benelux (CIMB) is part of the Catella group.
CIMB is the local branch that offers acquisitions and asset management for all Catella funds in the Netherlands, Belgium and Luxembourg. We also actively participate in the initiation of new funds such as the Catella Dutch Residential Fund II and the Catella European Residential Fund III. CIMB currently has about €950 million in assets under management in the Benelux and is anticipating an acquisition volume of approximately €300 million in 2019.
For more information please contact:
|
Ralph Willems MRICS
|
Lisette van der Ham |
Download Press Release as PDF (english)...
