Monday, 9 March 2015
CBRE Global Investors sells landmark tower in Brussels (BE)
CBRE Global Investors, acting on behalf of the CBRE European Office Fund and the Investa Office Fund, announces the completion of the sale of 100% of the shares of “BastionTower I SA” holding as main asset the Bastion Tower, to Schroder REIM, acting on behalf of two clients.
The 35.000 m² Bastion Tower comprises 26-storey’s of office space and is a 100 metres high, making it one of the most famous office towers in Brussels.
It is located on the Place du Champ de Mars, which is within the Brussels European District. The office tower is let to tenants including Freshfields Bruckhaus Deringer, Michael Page International and the Embassy of Austria.
Bastion Tower was designed by architect Goffaux in 1965 and has been modernised several times since. The CBRE European Office Fund and the Investa Office Fund acquired the property in 2007 as part of their European strategy.
Patrick Meutermans, country manager of Brussels, CBRE Global Investors, said: "This is a significant disposal for the clients and is in line with our active strategy to execute the Clients’ investment criteria. The team, headed by Nicolas Lutgé, have been successful in completing this sale and meeting the strategic objectives of the Funds. The sale is also evidence of the continued interest for large core assets in Brussels by international investors."
CBRE Global Investors was advised by JLL, C&W, Loyens & Loeff and Lydian.
Schroder REIM was advised by Linklaters.
Source: CBRE Global Investors