Rynda has co-invested with Starwood Global Opportunity Fund X (SOF X) in the Luxembourg market and acquired two Class A office buildings for a gross headline price of €120 million.
Comprising 26,295 m2 across two buildings, totalling 24,309 m2 of office space and 1,986 m2 of archives, 194 parking spaces and a zoned land plot which could accommodate up to a further 3,000 m2 of office space. At purchase the asset was 83% occupied by highly credit worthy tenants with a WAULT to first break of 4.3 years.
Highly specified , grade A, prime buildings completed in 2010:
- HQE certified
- Rainwater recycling and heat recovery systems
- Glass and natural stone façades
- Free height of 2.7m
- Raised floors
- High speeds lifts
- Underground car parking
Purchase Date: Q3 2015
Purchase Price: €120m
Rental Income: c. €7.7m