Feb 13, 2020, 07:30 EST
Feb 13, 2020, 07:30 /Comserve / -- Catella Real Estate AG and the Bank J. Safra Sarasin Limited jointly hold the product Sarasin Sustainable Properties – European Cities fund.
Two institutions belonging to the Luxembourg government as well as the Banque Internationale`a Luxembourg have taken two office blocks in the property that are adjoining each other on rent. The construction of these buildings was completed in the year 2000. Even prior to the start of lease period in 2018, the renovation for the premises of governmental tenants had been complete.
The building is situated along the western gateway entering the city in Strassen within a distance of only 4 kms. CSSF had set up its base and headquarters in the closest vicinity to the property, which had led to the establishment of several companies in the area. Strassen has been experiencing various positive developments over the recent years. Additionally, the route d’Arlon where the tram extension is predicted to occur is anticipated to raise the demand. The access to the property is easy for both private and public transportation, as it is only 500 meters away from the A6 motorway access.
Axel Bertram, Catella Real Estate AG’s Portfolio Manager of Sarasin Sustainable Properties – European Cities mentions that their investment in this property helps in supplementing their existing presence in the BeNeLux region and is considered to be another significant strategic expansion of their allocation.
The fund has been investing about 75 percent of its capital in commercial property and it expects to explicitly meet the demands of institutional investors in Germany, Switzerland and Austria. Additionally, every building must be able to meet the sustainability standards of the Bank J. Safra Sarasin Limited.
Pro Group, EY and Stibbe had advised Catella Real Estate AG, while Inowai acted on behalf of the seller. Catella Investment Management Benelux, being an affiliate of Catella Real Estate AG that has been operating from Maastricht was responsible for managing the acquisition deal and it is also expected to take over the asset management of the property.
About Catella Real Estate AG
Catella Real Estate AG is one of the companies that forms part of the Catella Group, with its headquarters in Munich, Germany. Catella Real Estate AG has been operating as a fund manager throughout Europe, which has a portfolio of specialized investment products with a focus over Europe and is not affiliated with any specific banc. It has been working towards real estate
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