Commerz Real fund sells Eurostat headquarters in Luxembourg
Commerz Real has sold the Joseph-Bech-Building in Luxembourg, the headquarters of the European statistical office Eurostat, for approx. 168 million euros.
A very good result for our investors.
Heiko Szczodrowski, the head of Portfolio Management in the Asset Structuring segment of Commerz Real.
The office building, located on Rue Alphonse Weicker in the Kirchberg Plateau district and which was completed in 1998 with a leasable area of approx. 42,500 square metres, has been owned by the Commerz Real closed-end real estate fund CFB 150 since 2004. The fund will be liquidated following the sale of the property, and the investors will receive total distributions of around 158 per cent relative to their invested capital. With a term of 14 years this corresponds to an average annual return of approx. 4.5 per cent.