Cording Real Estate Group has acquired its first office building in Luxembourg for the Benelux Commercial Real Estate Fund for an undisclosed amount. Built in 1992, the property is located at Rue Jean Monnet 6 in the Kirchberg district of Luxembourg city and is fully let to multiple international tenants. It has five office storeys and three basement levels for underground parking. The lettable area is around 5,100m² and it has 137 car parking units. The property is well connected to public transport facilities and is located adjacent to the Auchan shopping centre. The new tram line will enable tenants to travel efficiently towards the airport, the city centre and central station.
Rene de Heus, Head of Investment Benelux at Cording Real Estate Group, said: “We are very pleased with this first entry in Luxembourg. Within two years after the launch of this fund, we have successfully acquired thirteen assets and are now well diversified throughout the Benelux. The asset was sourced off-market which underlines our extensive network. As a new entrant to the Luxembourg investment market, Cording has again emphasised its strong local platform in the Benelux and demonstrated its deal certainty during transactions”.
