Codic to acquire GK5 from Nextensa for €110m.

Codic, a property developer, agreed to acquire GK5, the Titanium site in the Grand Duchy of Luxembourg from Nextensa, a mixed real estate investor and developer, for €110m. "We are pleased to have reached a closing with Nextensa to acquire this site in the Cloche d'Or district, located between the Route d'Esch and Avenue Guillaume Kroll. We will develop a large-scale project with strong architectural, environmental and social features. This acquisition also marks the first success of our new department Codic Invest, which has managed to raise significant funds from investors, together with Bank Degroof Petercam. Through this new business activity, we offer our financial partners the possibility of investing alongside us, benefiting from our thirty years of Luxembourg experience and our know-how, all in a perfect alignment of interests," Thierry Behiels, Codic International CEO.