Eaglestone sells Goethe building;
Eaglestone Luxembourg has announced that it has sold the Goethe building to an investment fund.
With this sale, the developer Eaglestone is consolidating its rise in power on the Luxembourg real estate market. "This sale confirms our agility, our professionalism and the quality of our projects," said Xavier Hauboldt, the director of Eaglestone in Luxembourg about the sale of the Goethe building to one of the largest international investment funds.
Located in the heart of the capital at 40 rue Goethe, the Goethe building will house 20 apartments of between 45 and 140 m2, 2 office units and 31 underground parking spaces. Overall, the marketed areas represent 2,000 m2. Work will begin next September. The new owner who intends to rent out the building will take possession of its property at the end of 2019.
"We want our projects to fit in perfectly with the environment and to ensure that our customers make a good investment today and in the long term. The Goethe building is located in a neighbourhood close to downtown which is gaining value. This acquisition confirms interest in residential real estate by large international investment funds, a trend that has been emerging for a number of years," said Xavier Hauboldt.
Completed in just two months, the undisclosed transaction will allow Eaglestone to fund the development of new projects. "Some are already well advanced because we have been able to seize great opportunities. Like the Goethe building, it is our policy to build high-quality buildings that are both elegant and durable and located at exceptional addresses. We have been operating in Luxembourg for less than three years and our growth confirms that our approach to the market is the right one," stressed Xavier Hauboldt.
