BNP Paribas REIM Belgium, on behalf of Next Estate Income Fund III (NEIF III), and CDC Investissement Immobilier, on behalf of Caisse des Depots, have recently acquired in joint venture from AG Real Estate & Macan Laine Holding, all the shares of the limited company Immobiliere de la Laine, holding the Tweed, a new 16 000m² office building located in Brussels.
Tweed is strategically located in the Pentagon District next to the Palace of Justice and the Boulevard of Waterloo, in the centre of Brussels, near many institutions, luxury retail stores, renowned restaurants and prestigious hotels. In the heart of the legal district, the building benefits from an excellent transport accessibility due to its proximity with metro and tramway lines stations.
Delivered in Q3 2021, this brand new building takes into account the strictest requirements in terms of comfort and conviviality. Altiplan, the architect firm in charge, designed a modular, flexible and bright building with high environmental performance. It offers the most efficient passive architecture technique for office buildings and will be certified BREEAM excellent. It has a spacious rooftop terrace providing amazing panoramic views on the city and on the Palace of Justice.
Tweed is currently more than 90% occupied by four high-quality tenants including DLA Piper,Spaces, Stepstone & Immoweb, and Société d’Investissement Régionale de Bruxelles, with a long WALB (Weighted Average Lease Break) over ten years.
Dorothea Koestler, Fund Manager for BNP Paribas REIM, said: “This acquisition also highlights BNP Paribas REIM’s ability to offer joint venture investment opportunities to institutional investors alongside our institutional funds, as part of long-term partnerships.”
CDC Investissement Immobilier commented: “This joint venture acquisition with a long-term partner is perfectly representative of our international real estate strategy, which is flexible in terms of risk profile (from core/core+ to value-add), but focused on undisputed locations in the centre of major European cities and on assets of the latest standards (at the time of acquisition or after restructuring if necessary).”