||IVG Immobilien AG, one of
Europe's largest real estate and infrastructure companies, has sold
Thomas SA, a company owning the Rue Thomas Edison property located
in the Strassen-Periphery of Luxembourg for around EUR 20m. Thomas
SA was sold to a private Luxembourg based Family Office. The
property is fully let to various tenants and totals 5,700
The deal represents one of the most
important transactions in Luxembourg and so far represents 15% of
the total market. Private investors still dominate the Luxembourg
office market despite huge demand from institutional investors.
7 transactions have so far been
registered on the Luxembourg market in 2012 for around EUR 130m.
With some EUR 360m ongoing, the Luxembourg Investment Market should
close at an estimated total of EUR 500m., slightly higher than the
years 2010 and 2011.
IVG was advised by Property Partners SA
in this transaction, a market leader in the Luxembourg real estate
business, and the international law firm Baker &
Immobilien AG is one of Europe's largest real estate and
infrastructure companies. The company manages assets worth approx.
EUR 21.5 billion at 19 sites with around 600 employees. Through its
network of branches in German and European cities, IVG manages,
among other assets, office buildings in its own portfolio with a
market value of EUR 3.8 billion. IVG also constructs and operates
underground caverns for the storage of oil and gas in northern
Germany as an important investment in the area of energy
infrastructure. In the fund sector, IVG is the market leader for
special property funds for institutional investors. Together with
closed-end real estate funds for private investors, IVG manages
funds and mandates with a volume of EUR 15.0
Further information www.ivg.de
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