News Story

CBRE assisted with the sale of the Vertigo to Allianz

CBRE’s BeLux Capital Markets team assisted Starwood with the sale of the Vertigo Real Estate Complex located in the Cloche d’Or district in Luxembourg to Allianz. This follows the purchase of 100% of the shares of KRPP (Kohlenberg & Ruppert Premium Properties SA), the Luxembourg company that owns Vertigo.

The €178 million transaction was arranged by Allianz Real Estate on behalf of a number of Allianz companies.

On completion in 2010, Vertigo was the first property in Luxembourg to be certified ‘Excellent’ as a ‘BREEAM in Use’ building. It was built according to the High Environmental Quality (HQE) label, which sets out strict principles for eco-construction and eco-management.

The complex currently consists of two buildings with an office area of approximately 24,300 sqm and 195 parking spaces and further development is underway for the construction of a third building. The Cloche d'Or district where the asset is located is a booming office district that benefits from a strong attractiveness for the companies wishing to settle in Luxembourg. This asset is fully leased by renowned tenants such as Swiss Life, Blackstone, Starwood, Intertrust.

Published on: 01 10 2017