AM alpha has sold office building 3a-5, Rue Plaetis, located in the heart of Luxembourg's historic city centre. The company has acquired the premium property, located just minutes from the Palace of Justice, in 2018 and extensively renovated and repositioned it after the lease expired. The asset, which is now leased on a long-term basis to the Grand Duchy of Luxembourg, has approximately 3,000m² of state-of-the-art office space on five floors, a spacious outdoor area and an exceptionally high parking space ratio.
AM alpha's Managing Director Martin Lemke commented: "Due to the implementation of our business plan, the property has become a highly attractive, rare investment opportunity for long-term core investors. We are very pleased to have far exceeded our investors' expectations with this transaction and to have created significant added value."
Oliver Honrath, Director and responsible for the Benelux markets in the Investment Management division, said: "We have succeeded in setting a new yield benchmark in the Luxembourg market with this product. At the same time, we are convinced that the strong investor demand will continue to further compress yield levels on such properties."