The real estate portfolio and asset management firm’s European transactions chief John O’Driscoll described it as a “core office investment in a growing and major European employment hub.”

The 21,457 sqm building was constructed in 2006 and currently has a 100% occupancy rate with 16 tenants. Among them are the Luxembourg House of Financial Technology and the Luxembourg City Incubator.

The district has among the lowest office vacancy rate in the country at 2.2%, according to latest figures published by JLL. In comparison, the central business district vacancy rate is 2.7%, while Kirchberg’s rate was 0.6%.

In its press release, the firm cited this low vacancy trend combined with good quality office space and a limited “pipeline of speculative office development between 2018 and 2020.”

The building was sold by Blackstone.