Union Investment, on behalf of its institutional fund DEFO-Immobilienfonds 1, has acquired a real estate company in Brussels holding, the NewCort office building which is located on Avenue de Cortenbergh 172 in the Leopold district (Brussels CBD).
The vendor was a private investor represented by Tribeca Capital Partners. Union Investment was advised by CBRE and Baker & McKenzie and Tribeca Capital Partners was advised by Jones Day.
NewCort is a core eight-story (GF+7) office property delivered in 2008 and which consists of 6,222 m² of offices, 226 m² of archives and 35 parking units entirely let to eight tenants with excellent covenants. NewCort is located in the European District (Leopold) at short distance from the Schuman roundabout and most of the European Institutions.