Nextensa and Promobe Finalize €120M Cloche d’Or Deal with Citi as Anchor Tenant
Event summary
- Nextensa and Promobe’s joint venture Grossfeld completed a €120M transaction for The Rock, a 9,492 sqm landmark building in Luxembourg’s Cloche d’Or district.
- The deal includes a long-term office lease with Citi for the top three floors, signed in March 2026.
- Upon completion in mid-2027, the construction partner will hold 100% of The Rock’s shares after occupying 70% of the building.
- The Rock will feature BREEAM Outstanding and WELL Core Gold sustainability certifications.
The big picture
This transaction underscores the growing demand for premium, sustainable office space in Luxembourg’s Cloche d’Or district, reinforcing its status as a key business hub. The €120M deal reflects the strategic importance of securing long-term leases with major financial institutions like Citi, while the sustainability certifications highlight the increasing market preference for high-performance buildings. The Cloche d’Or district’s Platinum DGNB certification further solidifies its position as a benchmark for urban development in the region.
What we're watching
- Lease Upside
- Whether Citi’s 30% occupancy can attract additional high-profile tenants to the remaining 70% of the building.
- Sustainability Premium
- How the BREEAM Outstanding and WELL Core Gold certifications will impact The Rock’s valuation and long-term occupancy rates.
- Cloche d’Or Expansion
- The pace at which Nextensa and Promobe can replicate this model in other high-demand urban districts.
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