Hannover Leasing, part of the CORESTATE Capital Group, has bought “Alter Domus”, a newly developed office property in Luxembourg in a club deal on behalf of Finnish mutual pension insurance company Ilmarinen and a French institutional investor. The sellers are project developer Extensa and its Luxembourg-based partner Promobe. The purchase price is in a high double-digit-million Euro range.
CORESTATE’S Hannover Leasing buys “Alter Domus” office building in Luxembourg for institutional joint venture
Hannover Leasing, part of the CORESTATE Capital Group, has bought “Alter Domus”, a newly developed office property in Luxembourg in a club deal on behalf of Finnish mutual pension insurance company Ilmarinen and a French institutional investor. The sellers are project developer Extensa and its Luxembourg-based partner Promobe. The purchase price is in a high double-digit-million Euro range.
The office building has just been completed and is located in the heart of the new Cloche d’Or urban quarter – one of Luxembourg’s main office submarkets. The multi-tenant building with a total floor space of close to 11,700 sqm has received a BREEAM “Very Good” sustainability rating. Some 70 parking spaces are part of the property. It is fully let by Alter Domus, a leading global trust service provider. Alter Domus has entered into a 12-year lease agreement without break options.
The building is part of the new Cloche d’Or urban quarter currently under construction, which will offer a mix of offices, shops, restaurants and apartments. The central train station can be reached in five minutes, the international airport in 15 minutes by car.
Dr. Michael Bütter, CEO der CORESTATE Capital Group: “The deal is again a good example for the positive overall performance of Hannover Leasing being a part of the CORESTATE Group. A targeted strengthening of the management team as well as a further digitalization of our sales and distribution channels are two important next steps for the near future.”
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
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