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M&G Real Estate makes first acquisition in Luxembourg



There has been a major transaction in Luxembourg. M&G Real Estate has acquired the 12.412 m² ‘Da Vinci’ office building for €71m from Union Investment as part of its €2.2bn pan-European growth strategy. This sees M&G enter the Luxembourg market for the first time.

Da Vinci is an office building located in the Airport district of Luxembourg, and along with five floors of office space, it offers facilities including restaurant, gym and parking garage. Long term tenants include the State of Luxembourg, Lombard, Bain Capital and government agency Alsa – which supports the Luxembourg Civil Aviation Authority.

David Jackson, Fund Manager at M&G Real Estate, comments: “With office employment growth and GDP likely to be one of the strongest in Europe over the next five years in the city, Luxembourg is a strong financial centre and obvious investment choice as we continue to bolster our presence in Continental Europe”.

Over the past year, M&G Real Estate has made acquisitions in Denmark, France, Germany, Italy and Portugal.
Tim Harrup
11-07-2017


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