Real I.S. AG has bought the office building OBH in Luxembourg for the specialised institutional real estate alternative investment fund (AIF) BGV VI.
The building is situated in the heart of Luxembourg’s Kirchberg district. Seller is the investment firm Batipart Group with headquarters in Luxembourg.
By agreement of the parties, the price of the transaction will not be published.
Axel Schulz, Global Head of Investment Management at Real I.S. AG says: “Compared to other office property markets, Luxembourg’s office real estate market has proven to be particularly resilient to economic downturns in recent years. Demand for office space has remained strong. New work models will have a decisive impact on what people expect of office buildings in the coming years. So we are pleased that we have been able to add another modern office building to the portfolio of the BGV VI.”
Completed in 2020 and located at Rue du Fort Niedergrünewald 6, the office property OBH, has a rental area of around 10,500 square metres on a total of seven floors above ground level. The building enables a highly flexible use of office space. And there is a one-floor underground parking with 174 car parking spaces for tenants.
The Infinity Shopping Center and the Grand Duchy of Luxembourg’s biggest sports and cultural centre are within walking distance of the property. Public transport links are excellent, with several bus and tramway stops in the immediate vicinity. Moreover, the building has a BREEAM In-Use rating of ‘Very good’