Allianz acquires office property in Luxembourg (DE/LU)

Allianz Immobilien GmbH has purchased an office block in 14 Rue Edward Steichen in Luxembourg-Kirchberg for Allianz Lebensversicherungs-AG. Thus Allianz is continuing its investment activities in the rest of Europe.

The purchase of the 5-story office block in Kirchberg, an well-established office location, was implemented by the takeover of a property company. The property with its high-quality fittings was built in 2000 and has a total surface area of 4,650 m². The underground garage includes 107 parking spaces. The whole building is fully let to the seller, a company belonging to the Nationwide Group.

Good location, best framework
The office location Kirchberg is a favored location for banks, other financial institutions and administrative offices for the European Union. Luxembourg is offering a first-class framework for property investment at the moment, said Mr Dirk Schlürmann, managing director of Allianz Immobilien GmbH responsible for portfolio management. Allianz will continue to look at further investment opportunities in Luxembourg.

Allianzs latest purchase in Luxembourg is the second investment in this Benelux country by the German Allianz companies. The investment volume amounted to approx. €28 million. The Centre Rosenstiel downtown in the Grand Rue, is also part of this portfolio. Allianz has realized real estate investments in Germany, Luxembourg, Belgium, France, the United Kingdom, the Netherlands and Sweden.

Source: Allianz

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