Continuing its positive business performance: CORESTATE’S Hannover Leasing buys “Alter Domus” office building in Luxembourg for institutional joint venture
Hannover Leasing, part of the CORESTATE Capital Group, has bought “Alter Domus”, a newly developed office property in Luxembourg in a club deal on behalf of Finnish mutual pension insurance company Ilmarinen and a French institutional investor. The sellers are project developer Extensa and its Luxembourg-based partner Promobe. The purchase price is in a high double-digit-million Euro range.
The office building has just been completed and is located in the heart of the new Cloche d’Or urban quarter – one of Luxembourg’s main office submarkets. The multi-tenant building with a total floor space of close to 11,700 sqm has received a BREEAM “Very Good” sustainability rating. Some 70 parking spaces are part of the property. It is fully let by Alter Domus, a leading global trust service provider. Alter Domus has entered into a 12-year lease agreement without break options.
The building is part of the new Cloche d’Or urban quarter currently under construction, which will offer a mix of offices, shops, restaurants and apartments. The central train station can be reached in five minutes, the international airport in 15 minutes by car.
Dr. Michael Bütter, CEO der CORESTATE Capital Group: “The deal is again a good example for the positive overall performance of Hannover Leasing being a part of the CORESTATE Group. A targeted strengthening of the management team as well as a further digitalization of our sales and distribution channels are two important next steps for the near future.”
Dr. Kai Gregor Klinger
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About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR 25bn in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 42 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 730 people and is listed in the regulated market (SDAX) of the Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com.
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