Quilvest and Arax Properties acquire Tour de l’Hopital in Brussels (BE)

Quilvest Real Estate and Arax Properties acquire Tour de l’Hopital buidling in Brussels (BE)

Quilvest Real Estate, acting together with Arax Properties, has acquired the Tour de l’Hopital, a 21,000m² office building in central Brussels, from private investors. The property, which benefits from a close proximity to Bruxelles-Central train station, compromises fifteen floors and is currently fully let. Quilvest is the lead investor and its co-investor, Arax Properties, will act as the operating partner of the joint venture. Financial terms of the transaction have not been disclosed. Financing for the transaction is provided by German Landesbank Helaba.

 

Patrick Laroche, CIO Europe & Asia at Quilvest Real Estate, commented: “We are pleased to announce the acquisition of this very well located office building which offers great upside potential. Brussels’ office market, and particularly its central business district, is a dynamic market, and we believe that modernizing the Tour de l’Hopital, will make it a very attractive property for tenants and visitors alike. Following this first acquisition in Belgium, Quilvest intends to pursue further investments as part of its pan-European acquisition strategy. We continue to actively deploy capital in properties that offer value-add potential.”

 

Michael Kroger, Head of International Real Estate Financing at Helaba, stated: “Helaba has a long experience and lending practice in the Benelux markets; we are happy to extend our business in the region with international and professional partners like Quilvest Private Equity and Arax Properties.”

 

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