German real estate investment manager Real IS has purchased the OBH office building in Luxembourg for its BGV VI specialised institutional real estate alternative investment fund.
The property was acquired from Luxembourg-based investment firm Batipart Group for an undisclosed sum.
Completed in 2020, the state of the art office building is located at Rue du Fort Niedergrünewald 6, in the heart of Luxembourg’s Kirchberg business district.
The total rental area amounts to 10,612 m2 spread across seven floors above ground level. The property also has an underground carpark with 174 parking spaces.
Axel Schulz, global head of investment management at Real IS said: ‘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.’
The building has been certified as BREEAM In-Use with a 'Very good' rating.
Real IS was advised by Loyens & Loeff, Noerr, KPMG and Drees & Sommer, while Batipart was advised by Elvinger Hoss Prussen and ATOZ.