Aareal Bank has financed the acquisition of the 'Belair' office and administration complex in Brussels by a joint venture consisting of the Hannover Leasing Gruppe and an Asian institutional investor. Aareal Bank acted as Arranger, Facility and Security Agent and Lender in this acquisition which totals €152 million and has a term of 10 years. Simultaneously with the closing of the transaction, the loan was partially syndicated to a large German insurance company.
The fully refurbished office and administration complex 'Belair' is centrally located in Brussels between Boulevard Pachéco and the Rue Royale. The complex has a lettable office floor space of approximately 64,000 m², administration facilities of approximately 15,000 m² and 681 parking spaces. The premises are let to the Belgian Federal Police on a long-term lease.
Source: Aareal Bank