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Keys REIM and Northbridge acquire the off-plan property of the 3,750 m² ‘ORIGIN’ office building of BPI Real Estate Luxembourg

Published on  01/09/2020

Keys REIM, the portfolio management company of the Keys Asset Management group, on behalf of one of its funds, announces the off-plan acquisition of an office complex of BPI Real Estate Luxembourg. Keys REIM is supported by Nordbridge SA in this operation, a Luxembourg Asset Management company, which carried out the sourcing. Nordbridge will remain alongside Keys REIM as a “local partner” during the entire period of ownership of this project. Located at 23 route d'Arlon, on the main artery connecting Strassen to the center of Luxembourg City, the whole property will meet the strictest standards and criteria in terms of energy consumption and sustainable development. Carried out by BPI Real Estate Luxembourg, the work has started in March 2020, for the offices to be available by the end of 2021.

BPI Real Estate Luxembourg had acquired this former headquarter of Swiss Life in Luxembourg at the end of 2017. 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 2 buildings of 3 levels. 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 2 or 3 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.

Close to the motorway access, located on the main artery connecting Strassen to the center of Luxembourg City and perfectly served by public transport, the property complex is close to many shops, a real asset for local businesses wishing to go there to implant themselves.

The real estate complex will be named ORIGIN and its commercialization will begin from September 2020.

"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. », Says Steve Lepine, Manager at Keys REIM.

"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 commerzialisation of office floors. », Declares Arnaud Regout, Managing Director of BPI Real Estate Luxembourg.

For this transaction, the buyer was assisted by Linklaters.

Funding for the operation was provided by Belfius.

The seller was assisted by Dentons and Savills.

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For more information

Arnaud Regout
BPI Luxembourg
aregout@bpi-realestate.com
+ 352 691 787 001

About Keys REIM

Keys REIM is a portfolio management company approved by the AMF on 04/04/2016 under number GP-16000011, a French subsidiary of the Keys Asset Management Group.

www.keys-reim.com

Founded in 2011, the Keys Asset Management Group, supported by Naxicap Partners, a subsidiary of Natixis, is specialized in the management of real estate assets, and has more than € 1.4 billion in assets under management (31/12 / 2019). The company has developped an approach centered on four businesses: property management, real estate valuation, financing of development operations and private equity advice.

www.keys-am.com

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Further information regarding the Keys Asset Management Group

 

About BPI Real Estate Luxembourg

BPI Real Estate is the real estate development division of the Belgian industrial group CFE, incorporated in 1880 and active in dredging, environment, offshore, contracting, rail activities and real estate development.

Established 30 years ago, the real estate developer operates in Belgium, Luxembourg and Poland. The company is mainly active in the residential, office, retail and service sectors and in specific products.

BPI Real Estate takes into consideration the energy, social, construction and technological elements in order to create innovative and environmentally sound urbanism. Furthermore, it applies its expertise to the real estate design and development of Wood Shapers, a Belgian and Luxembourg corporation, established in 2019 by BPI Real Estate and CFE Contracting (both part of the CFE Group). Wood Shapers focuses mainly on the design and development of sustainable building constructions made out of wood or prefabricated materials. For more info: www.bpi-realestate.com.