Parisian fund management company Keys REIM and Luxembourg asset management company Nordbridge have acquired the off-plan property of the 3,750 m² "ORIGIN" office building of BPI Real Estate Luxembourg.
Keys REIM, the portfolio management company of the Keys Asset Management group, on behalf of one of its funds, announced today the off-plan acquisition of an office complex of BPI Real Estate Luxembourg. Keys REIM is supported in this operation by Nordbridge SA, which carried out the sourcing. Nordbridge will remain alongside Keys REIM as a local partner during the entire period of ownership of this project.
Carried out by BPI Real Estate Luxembourg, work began in March 2020, for the offices to be available by the end of 2021.
At the end of 2017, BPI Real Estate Luxembourg acquired this former headquarter of Swiss Life in Luxembourg. With structural problems, the existing buildings needed to be demolished.
By 2021, this real estate complex, designed by Boito Architectes, will consist of 3,750 m² of office space spread over two buildings each with three floors. Aiming for the minimum "Very Good" BREEAM certification and endowed with an energy class B, the building has been designed to offer maximum planning flexibility while integrating high-end technical services with a high demand for energy efficiency.
The office areas will be delivered as open-space and each floor will be divided into two or three independent cells. In addition to an archive area of 140 m², the building complex includes a common basement car park that already exists and that has been preserved with 96 spaces, as well as 30 outdoor parking spaces.
Located at 23 Route d'Arlon, the real estate complex will be named ORIGIN and its commercialisation will begin from September 2020.
Steve Lepine, Manager at Keys REIM, commented: "This transaction, once again, demonstrates Keys REIM's ability to position itself in large-scale, high-value-added operations on the benchmark markets in the Benelux".
Arnaud Regout, Managing Director of BPI Real Estate Luxembourg, added: "BPI has been able to revalue a property with structural defects while preserving the healthy parts, in order to limit the environmental impact of this redevelopment. BPI is once again showing the diversity of its skills with this forward funding sale and the support of Keys REIM even in the commercialisation of office floors".
For this transaction, the buyer was assisted by Linklaters, whilst funding for the operation was provided by Belfius. The seller was assisted by Dentons and Savills.
