Investment fund manager LRI Invest has inked a sale-and-leaseback deal for its Enop 5 subsidiary, owner of an office asset located on rue Gabriel Lippmann 9A in Munsbach.
Financial details were not disclosed.
The buyer is Square Mile 4, a fully owned subsidiary of a Belgian pension fund which already holds real estate investments in the Netherlands, Luxembourg and Belgium.
The office building was built in 2004 and represents a lettable area of around 3,000 m2 plus internal and external parking spaces. LRI will lease back the property for a fixed duration of 12 years.
LRI Invest was advised by Knight Frank Belgium in the context of an exclusive sales instruction.
Christian Karkan, head of capital markets Belux commented: 'This transaction demonstrates the very high liquidity and health of the Luxembourg office market, even for peripheral locations. In this particular transaction the fixed duration of the lease and the quality of the tenant were key elements.'
Kairos Advisors SA acted on behalf of the purchaser.