Fortis Real Estate has sold the Astro Tower in Brussels (Belgium) to a syndicate formed by Hugenholtz Project Group Belgium (HPG) and Bouwfonds Property Finance (BPF). The transaction is worth over â¬67 mln.
HPG and BPF have been working together for years, BPF often acts as financier of developments by the HPG Groep. In the case of the Astro Tower itâs a single project participation.
The Astro Tower has 33 floors and comprises 34,820 mÂ² of office space and 269 parking spaces. This transaction will not have any effect on the current use of the building, tenants include Fortis Bank and Fortis Investments, as well as BIPT (Belgian Institute for Postal Services and Telecommunication). In the long term the tower will be completely renovated.
The buyers were advised by Atisreal Belgium, who acted exclusively in the negotiations between the parties. Jones Lang LaSalle and Catella Codemer acted for Fortis Real Estate.
âWe are pleased to see that, after having been involved with the negotiations for this tower for a few months, we have now been able to bring this large investment transaction to a good end. This shows that our company can optimize and show a real estate portfolio to its full advantage by offering our clients the best possibilities in the marketâ, emphasizes Philip Coates, Delegated Chairman Atisreal Belgium.
Source: Atisreal Belgium