Saturday, 15 March 2025
Catella Real Estate AG (CREAG) has completed the sale of the ‘Rue de Bruyeres 60’ office building in Howald, Luxembourg, on behalf of the fund Sarasin Sustainable Properties – European Cities. The transaction marks a strategic divestment for the fund, which benefited from stable cash flow and positive capital appreciation over a four-year holding period.
The modern, 8,961 sqm office building, developed in 2021 by Lafayette, features six above-ground floors and two underground parking levels, offering 104 parking spaces. The BREEAM ‘Very Good’ certified property integrates high environmental standards, including energy-efficient triple glazing, LED lighting, integrated sun blinds, a rainwater utilization system, and ten charging stations for electric vehicles. The building’s L-shaped design enhances its architectural integration into the rapidly evolving Howald district, which is transitioning from an industrial and retail hub into a thriving mixed-use area.
Located on the south-eastern edge of Luxembourg City, the property benefits from direct access to the A3 motorway and is well-connected to public transport, including the new railway station and Luxembourg’s expanding tram system.
CREAG was supported by Catella IM Benelux B.V. (CIMB) for transactional advisory, while legal, technical, and tax matters were handled by Stibbe, Drees & Sommer, and Deloitte.
Commenting on the transaction, Jaime Sarrà, Senior Investment Manager at CIM, noted: “After a four-year holding period, the SSP Fund successfully secured a stable cash flow for this property. The positive capital gains achieved in a turbulent office market environment are highly valued by our investors.”
Ralph Willems, Senior Acquisition Manager at CIMB, highlighted Luxembourg’s resilience in the European office market: “Luxembourg continues to attract strong tenant demand, particularly from financial institutions and public sector entities. While office assets remain important, we are closely monitoring opportunities in the Benelux region, particularly in the highly sought-after logistics and residential sectors.”
This sale reflects Catella’s ongoing strategy of optimizing its European office portfolio while exploring new investment opportunities in high-demand asset classes.
