Luxembourg mixed-use asset changes ownership

Luxembourgish real estate firm Inowai advised on the sale of Résidence Monterey, a mixed-use building in Luxembourg City's Central Business District. 

22 Avenue Monterey, Luxembourg City - Inowai

The property, totalling approximately 1,000 m2 of residential, office, and retail space, was purchased by a private Luxembourg investor from a Luxembourg investment fund. 
Both parties requested confidentiality regarding the asset deal.
Résidence Monterey, situated at 22 Avenue Monterey, boasts a strategic location near key institutions and amenities like the Hamilius area. 
Currently fully leased with multiple tenants, it provides stable annual income and offers significant potential for increased value through future refurbishment or repositioning.
Tehdi Babigeon, partner & head of Capital Markets at Inowai, commented: “This transaction reflects renewed interest in central locations and confirms that Luxembourg’s CBD remains a resilient and attractive market for long-term investors. It also illustrates a broader market reality: even asset deals are taking increasingly longer to complete, largely due to extended banking processes and more in-depth financing investigations.”