Edmond de Rothschild Real Estate Investment Management has acquired a prime office building in the heart of the financial district of Kirchberg in Luxembourg. The property, located on Rue Jean Monnet 4, extends over 4,000m² and is fully let to several strong financial tenants. This off-market transaction was performed by Edmond de Rothschild REIM’s Benelux team on behalf of its Benelux Commercial Real Estate Fund. The purchase price was not disclosed.
Robbert Bakhuijsen, Head of Investment Benelux at Edmond de Rothschild REIM, said: "With this acquisition, we further diversify our fund exposure to Luxembourg with a core asset in one of the best performing districts. We will continue to acquire office assets with similar profile throughout the Benelux.”
The open-ended special fund, Benelux Commercial Real Estate Fund (BCREF), was launched in December 2016 to invest in office properties in the Netherlands, Belgium, and Luxembourg. The fund’s focus is on properties with diversified cash flows located in economically strong cities. With this acquisition, the market value of the portfolio exceeds €550m.