Union Investment has sold an office portfolio comprising five individual properties close to Brussels International Airport, which were held in its open-ended real estate fund Unilmmo: Europa. The five properties are located on Da Vincilaan in the Corporate Village business park and offer total rental space of approximately 64,000 m². The buyer is Australian fund manager RF Capital, which is actively investing into Europe in all asset classes. RF Capital acquired Corporate Village on behalf of one of its funds. The purchase price was undisclosed.
UniImmo: Europa acquired the five properties between 2002 and 2008 and has held them ever since. The buildings vary in height from six to nine storeys and were designed by US architects Kohn Pedersen Fox. They have LEED Gold certification. The names of the properties – Davos, Elsinore, Figueras, Caprese and Bayreuth – are all places associated with European art, reflecting the high architectural standard of the ensemble.
Following the sale of the Corporate Village portfolio by Unilmmo: Europa, Union Investment continues to hold six commercial properties in Brussels with a total value of some €230m, comprising four office properties, a Radisson Blu Royal hotel and a Motel One.
Union Investment was advised on the transaction by Cushman & Wakefield and on legal aspects of the deal by Clifford Chance.
