ACRON acquires certified sustainable office property in Leudelange, Luxembourg
ACRON has acquired a stake in Wooden SA, which is currently constructing the fully rented office building WOODEN, which is certified according to the WELL Building Standard® and rated "BREEAM Excellent". The building in Leudelingen, Luxembourg, is roughly equidistant from the borders with France, Belgium and Germany. The up-and-coming region has experienced strong growth in recent years and is attracting more and more companies looking for sustainable locations for their business in the greater Luxembourg area. The expected total investment for the first wooden office building of this size in Luxembourg is in the high double-digit million euro range.
“With our participation in the fully rented office building WOODEN, designed according to the ecological state of the art, we are offering German investors, among others, a direct investment in a sustainable property. By investing in this project, investors have the best prospects for a stable and promising investment," says Kai Bender, Managing Director of ACRON GmbH.
Wooden SA is the owner of the WOODEN office property, whose floor space of 9,462 m² is fully let to renowned financial companies. Among other things, the building will house the headquarters of Bâloise Assurances Luxembourg. The Baloise leases around 82 percent of the total floor space for up to 15 years. The remaining 18 percent will be used by the CLE (Compagnie Luxembourgeoise d'Entreprises) until at least the end of 2028.
The first wooden office building of this size in Luxembourg is a "pioneer project" at a desirable location in Leudelange. The growing importance and rapid development have already made Leudelange the most important conurbation in Luxembourg and one of the top locations for real estate in the country.
The tenants are expected to be able to move into their office space from the end of 2022.
This investment opportunity is open to semi-professional and professional investors from Germany via ACRON LUX REAL ESTATE I SCS (ISIN: LU2399210942), which was founded specifically for this purpose. After the investment in this club deal has been fully placed with 10 to 15 investors, the composition of the group of investors will probably not change until the exit. The company's goal is to develop WOODEN, hold and manage the property and later sell it for a profit.
BREEAM is the world's leading certification system for sustainable construction, which includes the entire life cycle of buildings – from new construction to use and maintenance. WOODEN was rated "BREEAM Excellent". The WELL Building Standard was developed to promote health and well-being in buildings worldwide. The types of wood used in the property come exclusively from sustainable forestry from PEFC-certified forests in the greater Luxembourg area. For every tree felled, one or two new ones are planted.