AG Real Estate and GLL Real Estate Partners complete Ceryx transaction
On Thursday 15 October 2020, AG Real Estate and its affiliate Mosella Consult sold 100% of the shares in Ceryx, owner of the Charlotte building in the Grand Duchy of Luxembourg, to a fund managed by GLL Real Estate Partners (a Macquarie Group company).
The building, which was developed in 2013, stands out for its exceptional location in the Central Business District, at the corner of Boulevard Grande-Duchesse Charlotte and Avenue Monterey.
This prestigious address consists of more than 5,000m² of high-end office space spread over three floors. The sole occupant, law firm Clifford Chance, benefits from a modern building that meets all the attractiveness criteria, including excellent visibility and close proximity to public transport connections and shops in the city centre.
Focused approach to reach successful result
The focused approach of the transaction teams of AG Real Estate and GLL Real Estate Partners ensured a timely and efficient closing of this off-market transaction.
Tatiana Posa, Senior Transaction Manager at AG Real Estate, commented: “We are delighted to have been able to respond quickly and positively to the offer made by GLL Real Estate Partners. In a short time, we mobilized our internal teams to complete this transaction. We are also very proud to have been able to quickly redirect, in a delicate period to work, our strategy to meet the needs of our shareholder. »
Olivier De Bisscop, Head of Western Europe at GLL Real Estate Partners, adds: “This acquisition fits perfectly within our sustainable strategy to invest in highly qualitative assets and we are pleased to add this investment to our client’s portfolio. This transaction confirms GLL’s ability to identify and efficiently execute on unique opportunities, despite the global pandemic.”
AG Real Estate was advised in this transaction by its law firm Dentons. GLL Real Estate Partners was advised by Linklaters, BRESS, Deloitte and JLL.
About AG Real Estate
AG Real Estate, a wholly-owned subsidiary of AG Insurance, is an integrated property operator active in Belgium, France, Luxembourg and on certain select European markets with expertise in different lines of business: Asset & Property Management, Development & Construction Management, PPP and real estate financing, as well as in Car Park Management through its subsidiary Interparking. A company active in urban real estate, AG Real Estate has more than 250 employees with varied profiles and areas of expertise.
With a portfolio of more than €6.5 billion under management for its own account and on behalf of third parties, AG Real Estate is endeavouring to provide a responsible response to new urban needs and to implement a sustainable development policy as to make its projects even more meaningful.
About GLL Real Estate Partners
Headquartered in Munich, GLL joined the Macquarie Group in June 2018 building out the real estate equity investment platform of Macquarie Infrastructure and Real Assets (MIRA). GLL manages real estate in Europe, the USA, Latin America and Australia with offices in 12 countries. GLL is a well-established provider of institutional real estate funds in Germany. Since its inception in 2000, the company invested over EUR 16 billion on behalf of institutional investors, and currently manages more than 100 office, retail and logistics properties in 23 countries – a portfolio comprising more than EUR 8 billion assets under management.
Macquarie Infrastructure and Real Assets (MIRA) is one of the world’s leading alternative asset managers. For more than twenty-five years, MIRA has partnered with investors, governments and communities to manage, develop and enhance assets relied on by more than 100 million people each day. As at 31 March 2020, MIRA managed approximately €120 billion in assets that are essential to the sustainable development of economies and communities, including: 151 portfolio businesses, ~500 real estate properties and 4.8 million hectares of farmland.