The Deka Immobilien Investment branch in Belgium has acquired an office building in Brussels for the portfolio of the open-ended property fund Deka-ImmobilienMetropolen. The property was sold by AG Insurance. The parties have agreed not to disclose the purchase price.
Comprising around 7,300m2 of leasable space and 74 parking spaces in an underground car park, the Tervueren II office building was built in 1976 and underwent core renovation in 2019. The high-quality and extremely energy-efficient property is fully let on a long-term lease to the law firm Loyens & Loeff, which is headquartered in the Netherlands. The location in Brussels' most important office district, Leopold, offers excellent infrastructure. The property has been rated "Very Good" in construction by BREEAM, the British certification for sustainable construction.
With its first acquisition in Belgium, the fund management has expanded the portfolio of Deka-ImmobilienMetropolen to include a property of a high ESG standard in close proximity to the Belgian capital's notable EU institutions. The fund has taken advantage of the opportunity to acquire the property at advantageous purchase conditions.
Image source - Pexels.
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