Aukera Real Estate fund lends €130m to fund completion of Luxembourg mixed-use property
Aukera Real Estate AG, an owner-managed investment management firm based in Essen, Germany, has plans to lend €130 million ($141 million) through its Aukera Real Estate Debt Fund to Connection Property Development S.A.
The senior secured facility will be used to finance CONNECTION, an office/retail mixed-use property in Luxembourg being marketed by Silverfinch Property & Asset Management S.A. and offering around 49,400 square meters (531,737 square feet) of rental space. Completion is scheduled for the end of the year, and the Green Core asset will remain in Connection’s long-term investment portfolio. About 50 percent of the property is already pre-leased.
The property is located in a prime location at Rue de Bitbourg 21-25, with quick access to Luxembourg city center as well as to the airport.
“The financing is enabling us to increase the value of this Green Core property asset in a difficult market environment while also permitting an optimally time