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22 August 20222 minute read

DLA Piper Luxembourg advises Novaxia Investissement on land acquisition in Luxembourg

DLA Piper Luxembourg has advised Novaxia Investissement, a French real estate management company, on the acquisition of one of the two plots of land where the South Village project will be built. Novaxia Investissement acquired through its funds the land with its co-investor Capelli, a European real estate developer.

The South Village project is a 21,000 m² real estate project in Howald (Luxembourg City). It consists of two combined real estate operations, one of which was developed in partnership with Novaxia Investissement. It’s expected to generate more than EUR200 million in turnover and will include residential and commercial units, a co-working space and 1,300 m² of office space.

Novaxia Investissement is a major player in urban recycling. Created from the combination of real estate and savings, the group assists its investors in the management of real estate savings and the development of urban projects. Its objective is to provide its clients with a balance between meaning and profitability, a vision that DLA Piper shares.

The firm put together a multi-skilled team to support Novaxia Investissement on the various Luxembourg law aspects and on the negotiations with financial institutions and co-investor Capelli.

DLA Piper's team in Luxembourg comprised senior associate Guillaume Schaefer for the corporate law aspects, and Partner Xavier Guzman, supported by senior associate Yann Zellet and associate Fanny Denoel, for the financing aspects. They were assisted on the tax aspects by counsel Julie Hecklen, supported by senior associate Emre Akan and associate Cyril Poels.

The team was delighted to support a new large-scale real estate project in Luxembourg and to have advised a property manager in its international real estate development.