DLA Piper Luxembourg advised Novaxia Investissement on land acquisition
DLA Piper Luxembourg advised Novaxia Investissement on land acquisition
The construction will include residential and commercial units
DLA Piper Luxembourg has advised Novaxia Investissement, a French real estate management company, on the acquisition of one of the two plots of land, wherein the construction of the South Village project will take place. Novaxia acquired 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 comprises two combined real estate operations, one of which was developed in partnership with Novaxia. It is 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 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 coincides with the vision of DLA Piper to provide clients with a balance between meaning and profitability.
The law firm assembled a multi-skilled team to support Novaxia on the various law aspects in Luxembourg and on the negotiations with financial institutions and Capelli.
The DLA Piper's team comprised senior associate Guillaume Schaefer to deal with corporate law aspects, and partner Xavier Guzman, supported by senior associate Yann Zellet and associate Fanny Denoel on the financing aspects. They were assisted on tax aspects by counsel Julie Hecklen, supported by senior associate Emre Akan and associate Cyril Poels.
