Property in Luxembourg City: Avenue Monterey
This attractive office property is in Avenue Monterey, in the heart of Luxembourg City. Because it is close to the city centre and government administration, with easy access via personal and public transport, this is a prime office location.
Built on the street corner in 2004, this 5275 m office building has lots of open space. The unbroken glass facade gives an admirable view of the surrounding area full of colourful, modern buildings and wide streets.
HANSAINVEST is the current landlord.
New Occupant: Norges Bank Investment sàrl
Norges Bank Investment manages investments for the Norwegian oil fund, formally named the Government Pension Fund Global. It is invested in 9,202 companies spread over 72 countries. The fund is a key contributor to three main areas: equities, bonds, and real estate.
The fund is one of the largest in the world and invests broadly across countries, sectors and currencies. It holds shares, bonds and real estate all around the world, but invests only abroad so that the Norwegian economy does not overheat.
The Norges Bank Luxembourg office is responsible for 548,602,241 USD invested in the aforementioned categories, shared between a total of five investments.
Why This Move?
The tenant’s previous office in the same building was too large. Because they found it difficult to use the space efficiently, they began looking for smaller premises. However, they didn’t want to leave the building as it was so convenient.
RealCorp stepped up to the challenge. Some careful investigation identified another company which needed a bigger space. Thereafter, it was just a matter of working out an exchange agreement.
As a result, Norges Bank Investment now has a smaller, more economic space, as well as a new lease assignment to another tenant.
RealCorp successfully executed its exclusive mandate to arrange a new lease term for a smaller office on the same site. Simultaneously, we assigned the client’s lease to another tenant. A doubly satisfactory result!
The new lease was signed on 25 February 2020, giving Norges Bank access to their new space by 1 March 2020.
How can RealCorp help you?
Contact RealCorp for more information about this property:
+352 26 27 29
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