Edmond de Rothschild Real Estate Investment Management has bought a prime office asset in the heart of the financial district of Kirchberg in Luxembourg on behalf of its Benelux Commercial Real Estate Fund.
The property, located on Rue Jean Monnet 4, extends over 4,000 sqm and is fully let to several strong financial tenants.
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 €550 million.