A core plus Fund advised by Tristan Capital Partners has completed the disposition of The E-Building, a fully occupied office building in Munsbach, Luxembourg, to London-based real estate investor Maple Knoll Capital.
The E-Building was sold by Tristan’s Curzon Capital Partners IV (CCP IV) Fund and Rynda Property Investors. Rynda were asset managers and co-invested alongside Tristan.
Financial details were not disclosed.
Comprising 10,266 m2 in three wings shaped in an ‘E’, the office building is located in the Syrdall office park within the district of Munsbach. The E-Building is home to nine tenants in the software, office solutions and financial services sectors including Adepa, Bayern Invest, ImmoGestion and SunGard.
CCP IV acquired the E Building in December 2015.
'The disposition of the E-Building was executed in line with our business plan as a result of our lease-up strategy, which took the asset from 75% occupancy at acquisition through to 100% occupancy today, with an excellent weighted average lease term,' said Jean-Philippe Blangy, managing director, head of asset management at Tristan Capital Partners.
Ian Dyke, principal at Maple Knoll Capital, commented: 'We are delighted to have acquired the E-Building and added another high-quality property to the portfolio of European assets owned and managed by Maple Knoll Capital.'
Tristan was advised by BNP Paribas Real Estate and Allen & Overy. Maple Knoll Capital was advised by Ogier, PWC, Drees & Sommer and Qualix.