Münchener Hypothekenbank finances largest office building built in Luxembourg from sustainable wood structure
Münchener Hypothekenbank is financing the purchase of the Luxembourg office property "Wooden", which was built in a sustainable high-tech wood structure. The loan amounts to 47.5 million euros. The buyer is a Luxembourg-based company of the Düsseldorf-based ACRON Group.
The property, which was completed at the end of 2022, was built using regional raw materials as well as wood from PEFC-certified forests and is certified according to the international sustainability standards BREEAM Excellent and WELL Building.
The total of 9,500 m² of office space is fully let. The main occupant is the insurance company Bâloise Luxembourg, which is currently relocating its headquarters to this new site.
"We are pleased to be able to accompany the financing of this future-oriented project in an attractive location. The transaction once again underlines the success of our strategic approach to expand the ESG-compliant loan portfolio," says Dr. Holger Horn, CEO of Münchener Hypothekenbank.
Kai Bender (CIO of ACRON) adds: "ACRON's ambition is to combine environmental-sustainable factors with economic-sustainable factors, which is why it is important to have the right partners at our side. With Wooden, we are responding to the change in the office asset class and the changing work culture."
Münchener Hypothekenbank was supported in this transaction by the law firm Clifford Chance.
Photo credits © Marc Detiffe