Bronze Gate Luxembourg changes hands

Image: IPE Real Assets

There has been a major transaction in the growing Cloche d’Or office district in Luxembourg, a district which now boasts not only a contemporary shopping centre, but many office tenants too. REInvest Asset Management, a Luxembourg-based company, has acquired the Bronze Gate office building (5, Rue Charles Darwin) from Nextensa and Promobe (Grossfeld) for a sum reported to be in the region of € 65 million.REInvest Asset Management has acquired the property for its DEREIF SICAV-FIS fund which invests in European real estate.

Bronze Gate is expected to receive BREEAM ‘Excellent’ sustainability certification and is currently fully let. The evolving Luxembourg tram network is also set to link the Cloche d’Or district to the city centre, adding to the attraction of the location for tenants and landlords.

Daniel Hohls-Larsson, Head of Transaction International and project manager at REInvest, comments on the move by his company: “We are delighted to have acquired Bronze Gate, a modern and sustainable office property in the ever-growing southern gateway to Luxembourg City. The Luxembourg real estate market, with its favourable underlying conditions, offers very good investment opportunities, as is evident from the early and long-term full occupancy of the property”. Hans Stuckart, Managing Director of REInvest, talks of the Cloche d’Or as being “one of the up-and-coming districts in Luxembourg” and of the “high standards in the building’s ESG features”.