ING Real Estate has acquired two office buildings in Brussels, Belgium, on behalf of the ING Real Estate European Office Fund. The total transaction volume amounts to €22 million.
The transaction comprises:
- Louise 375, a 4,434-m² building, located in one of the most prestigious streets of Brussels and part of the central business district. The property was refurbished in 2006 and has eight tenants including Passage Fitness and Thomson Hine.
- Rue de L'Industrie, a 3,167-m² building, located in the Leopold district of Brussels. The building was completely renovated in 2001 and is let to Distri-Gas.
Commenting on the acquisition Leo Weidenaar, Fund Manager of ING Real Estate European Office Fund, said, "The Brussels office market is very stable because of the high proportion of institutional tenants (NATO, European Commission, and Government). These two acquisitions represent the Fund's entry into the Brussels office market."
Source: ING Real Estate