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DLA Piper has advised Novaxia Investissement, a French real estate management company, on the acquisition of a surface area of 5,110 m² in Esch-sur-Alzette. The company acquired the land through its Novaxia R fund and alongside co-investor Capelli, a European real estate developer.
This project “Terre de Sienne” demonstrates the expertise of the Capelli and Novaxia Investissement groups in terms of urban recycling and rehabilitation. The land of 5,110 m will allow, after deconstruction of the existing office buildings, the construction of a real estate program in Esch-sur-Alzette including a luxury residence of 99 apartments spread over a set of 6 buildings. This project is estimated at a potential turnover of 70 million euros and will be carried out without...
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