Catalyst Capital Partners and JER, jointly owning the office property located rue Montoyer 39, in the heart of the European district of Brussels, have proceeded to its sale to a private Belgian investor.
Formerly acquired from Kungsleden in the frame of a global portfolio transaction, the property has been entirely renovated and restructured, and most of the leases have been renewed, with most occupiers being closely linked to the EU sector.
This operation perfectly fits with the investment policy of the asset manager who is adding value to properties through deep renovation and restructuring works to adapt the property to the best possible market standards, and a commercial improvement of the tenancy.
The investment will generate a yield in the region of 6,50% for its new owner, according to real estate consultant Knight Frank which acted on behalf of the asset manager.
Source: Knight Frank