Crystal Park exits AG Real Estate assets portfolio

AG Real Estate entered into a partnership in January 2017 with Société Générale Life Insurance and Capitalization (Sogecap) of the French group Société Générale. The two companies became a 50% shareholder each in the company B.G.1. owner of the "Crystal Park" building located in the Grand Duchy of Luxembourg in the Cloche d´Or district. At the end of 2020, AG Real Estate sold to Sogecap the 50% that it held in the company B.G.1. Prior to the acquisition, Treex was mandated by Sogecap to perform a Technical Due Diligence of the building.

Crystal Park is a 30,000 m2 office complex built-to-suit in 2014 for PwC, a major audit and advisory company, the unique tenant of the building. Their new headquarter has to host 2.450 workers. The building is organized over six floors with, on the ground floor, an atrium, reception areas for external visitors, the PwC Academy as well as various catering points. The floors are reserved for offices. The building also includes an auditorium, a sports and fitness room as well as two-level car parks.

As part of this transaction, AG Real Estate benefited from the advice of Dentons Luxembourg and Sogecap from the advice of Treex for the technical part, Linklaters as legal and tax advisor and Mazars for the financial part.

Picture © PwC Luxembourg / Park Architects – JM-Schlorke