An affiliate of Lone Star Value-Add Fund I has acquired the H20 office asset in Howald, Luxembourg (H2O) from Nomura, Asia’s global investment bank. Following a competitive sales process launched in October 2020 and run by Savills Belux, acting as sales agent on behalf of Nomura.
Located on 33 rue de Gasperich in the Howald district, and adjacent to the Cloche d’Or office cluster, the building is served by great car accessibility and excellent public transport links, which will be further strengthened by significant urbanization initiatives, the arrival of the tramline, and the renovation of the train station by 2023, reinforcing Howald district as a multimodal hub.
Delivered in 2005 with a contemporary design, glazed façade, and modern HVAC, and currently carrying a BREEAM ‘Very Good’ rating, H2O encompasses more than 24,000m² of office space spread over three interconnected buildings and includes 819 parking spaces, reflecting a very favourable parking ratio. The asset benefits from an existing strong and diversified tenant base, offering a stable income stream while implementing the contemplated asset management initiatives with a lease-up strategy.
The building will undergo an ambitious refurbishment plan with redesigned common areas aiming to deliver high quality, sustainable, and flexible space.