W4 building is located in the Am Bann Business Park in Leudelange, which has been attracting several businesses over the past five years.  Catella Real Estate

W4 building is located in the Am Bann Business Park in Leudelange, which has been attracting several businesses over the past five years.  Catella Real Estate

Munich-headquartered Catella Real Estate AG, in cooperation with Maastricht-based Catella Investment Management Benelux, has purchased the Leudelange office building from Parfinimmo.

Built in 2020, the W4 building in the Am Bann Business Park in Leudelange has a total gross lettable area (GLA) of 4,955m² including 4,519m²of office space, 235m² of retail and around 201m² of storage space, spread over three upper and two basement floors. 

The property was purchased on behalf of the AVW European Real Estate Fund, a German institutional Spezialfonds structure launched at the end of 2020. “The W4 office building is a perfect match for the profile of the AVW fund investment mandate,” said Fabian Pick, portfolio manager at CREAG’s AVW European Real Estate Fund. “It is a recently constructed sustainable office asset that also incorporates commercial space on the ground floor, providing a diverse tenant mix. The vendor in this deal, the ParFi Group, is also the main tenant, which means the building has been well maintained and managed by them as the current owner.”

Leudelange is currently attracting businesses including the likes of La Baloise, Northern Trust, Regus and BSP. Insurance companies Foyer, La Luxembourgeoise, DKV Luxembourg are already located there as are Raiffeisen bank, SIX Payments, Car Avenue and Lease-plan among others. 

Catella was advised by Stibbe, Drees & Sommer and Deloitte in the due diligence process. Inowai acted as agent to the vendor.

Ralph Willems, senior acquisition manager at Catella IM Benelux, said: “The acquisition of W4 is the third addition to Catella’s Luxembourg real estate investment portfolio. The strong tenant covenants in a flourishing office location support our high confidence in this investment and we are actively seeking similar opportunities in the Luxembourg market.”