The insurance company Mercator Verzekeringen, Belgian subsidiary of the Swiss listed Baloise-Group, has selected DTZ as its exclusive advisor for the strategic optimalisation and operational management of its immovable assets.
The portfolio, estimated value of â¬300 million, mainly consists of office buildings in Flanders (Belgium). Various departments of DTZ will be involved in this assignment.
After a thorough selection procedure, DTZ was appointed as exclusive advisor. The assignment consists of approx. 50 buildings situated primarily in Brussels, Antwerp and Ghent. The buildings are office, retail, logistic and residential space.
According to Jan De Meulder, CEO of Mercator Verzekeringen, the outsourcing of the management of the real estate portfolio fits perfectly in the strategic reorientation of Mercator. âWe want to focus on our main activity, which is the insurance of private individuals and of companies in Flanders through independent brokers. From that point of view it is logical to outsource the management of the real estate to an independent professional with real estate as its main activity, without losing control over the assets and the asset allocation. This formula enables the unity of strategic independence with the expertise and flexibility of an external partner.â
This exclusive contract is valid for several years and is related to advisory services and the management of the Belgian assets. It includes the investment advice regarding acquisition and sale of assets in order to optimize the portfolio. DTZ will be the preferred partner for the commercialization of buildings that Mercator will put up for rent and for the coordination of all rental activities. Furthermore, DTZ will have the possibility to coordinate the interior design of several buildings. Also DTZ will take care of the daily management of the buildings. From that point of view, DTZ Antwerp will integrate Mercatorâs current real estate team in its Property Management department.
Source: DTZ Belgium