Sarasin sustainability fund invests in Luxembourg
The Sarasin Sustainable Properties European Cities fund has acquired an office property in Luxembourg/Strassen.
According to a statement, the property is a five-story building complex with a rental area of around 7,900 sqm, which is fully leased. The occupants of the two adjoining office buildings are two Luxembourg ministries and the Banque Internationale à Luxembourg, Catella Real Estate says. The office buildings were built in 2000; the public sector space was renovated as part of the 2018 lease, it said. Catella Investment Management Benelux will asset manage the property.
The property is located in the municipality of Strassen, around four kilometers northwest of Luxembourg city center. Strassen is home to numerous companies, and Catella is convinced that the planned extension of the tramway along the Route d'Arlon will further increase the attractiveness and demand of the micro-location in the coming years. The site is directly connected to the A6 motorway. There is a bus stop directly in front of the building with a direct connection to the main train station.
Sarasin Sustainable Properties European Cities is a product of Catella Real Estate and Bank J. Safra Sarasin. The target group is institutional investors in Switzerland, Austria and Germany.
Catella Real Estate was advised on the transaction by Stibbe, EY and Pro Group. Luxembourg-based brokerage firm Inowai assisted the owner with the sale. (ah)
