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PRESS RELEASE
Brussels, 28 October 2022, 5.40 PM CEST
REInvest purchases Bronze Gate
Luxembourg-based actual property funding accomplice secures BREEAM “Excellent” licensed property, absolutely let over the long run of 12 years.
Luxembourg-based actual property funding accomplice REInvest Asset Management S.A. has secured the fully-let Bronze Gate workplace property in its residence metropolis of Luxembourg. The property was acquired for the DEREIF SICAV-FIS fund which invests in European actual property. The most important investor within the Luxembourg-based actual property particular fund is a significant German insurance firm.
The funding is round EUR 65 million. The sellers are the builders Nextensa and Promobe “Grossfeld”. Bronze Gate is about to obtain a BREEAM “Excellent” sustainability certification.
The Bronze Gate workplace constructing is situated at 5, Rue Charles Darwin within the new a part of the Cloche d’Or quarter in Luxembourg City, a neighbourhood which is evolving with a mixture of residential, working, procuring and leisure makes use of. The complete Cloche d’Or quarter has been awarded the German DGNB Platinum sustainability normal, which additionally displays the environmentally pleasant design of the general infrastructure. The quarter may also shortly be linked by Luxtram to the tram community of the town of Luxembourg.
“We are delighted to have acquired Bronze Gate, a modern and sustainable office property in the ever-growing southern gateway to Luxembourg City. The Luxembourg real estate market, with its favourable underlying conditions, offers very good investment opportunities, as is evident from the early and long-term full occupancy of the property,” provides Daniel Hohls-Larsson, Head of Transaction International and undertaking supervisor at REInvest.
Bronze Gate, with its signature bronze facade, contains six above-ground and two below-ground flooring and round 5,040 sqm of rental area. It was accomplished in September 2022. The workplace property has already been pre-let on a long-term foundation to the atHome Group analysis and brokerage firm which specialises in actual property and automobiles, and the worldwide regulation agency CMS DeBacker Luxembourg.
The regulation corporations Linklaters LLP and Clifford Chance offered buy-side and sell-side recommendation respectively through the transaction. Drees & Sommer suggested REInvest on the technical points related to the acquisition and had been answerable for monitoring the development section.
“With Bronze Gate, we have secured a modern office property for our DEREIF SICAV-FIS real estate fund, fully let over the long term. The location is forward-looking and one of the up-and-coming districts in Luxembourg. We have also achieved high standards in the building’s ESG features. I would particularly like to highlight the excellent and very close partnership with the developers Nextensa and Promobe (Grossfeld),” declared Hans Stuckart, Managing Director of REInvest.
Background info on the Real Estate Development Partners Nextensa and Promobe
The Cloche d’Or district is developed in three way partnership between Promobe and Nextensa. Promobe is a significant participant in actual property growth within the Grand Duchy of Luxembourg. Nextensa is a blended actual property investor and developer with actions centered on workplace, retail and residential tasks within the Grand Duchy of Luxembourg, Belgium and Austria. More info: www.clochedor.lu
For extra info
Michel Van Geyte,
Chief Executive Officer
+32 3 238 98 77
[email protected]
