Linklaters has advised the purchaser on the acquisition of all shares in Stairs S.à r.l., the company owning the ‘Stairs’ building, which will become the new headquarters of State Street Bank International Luxembourg. The asset was acquired from Grossfeld, a joint venture between Nextensa and Promobe; the transaction value exceeds €100 million.
The ‘Stairs’ building is a landmark asset in the Luxembourg real estate market, being the country’s first office building to achieve BREEAM Outstanding certification, complemented by WELL Gold and an A+ energy rating. The 9,999 m² property represents a high-quality, future-proof asset within the dynamic Cloche d’Or district.
The cross-practice Linklaters team advised on the acquisition of the asset by way of a share purchase throughout the project lifecycle, including corporate governance and real estate matters.
The team was led in Luxembourg by Corporate Real Estate Counsel Anton Cox, with Consultant Hida Ozveren and Associate Maximilian Helfgen. The team also included Tax Partners Guido De Wit and Danièle Buchler with Senior Managing Associate Cyrielle Nis, and Luxembourg Litigation, Arbitration and Investigation Counsel Louis-Eudes Giroux with Junior Associate Marie Favier.
Commenting on the transaction, Corporate Real Estate Counsel Anton Cox said:
“This acquisition marks the successful completion of a landmark project. We are proud to have supported our client from the initial phases through to the delivery of new, state-of-the-art headquarters, a truly pioneering building for its sustainability credentials in Luxembourg. This transaction highlights our deep expertise in the Luxembourg real estate market and our ability to guide clients on complex, long-term developments in the dynamic Cloche d’Or district.”
