Sponsor:
Our client, a well-established Belgian real estate merchant (value add projects), is the Belgian leader in the purchase/sell of office buildings, industrial, retail and logistics spaces in Belgium. They have a 15-year successful track record: +/- 35 acquisitions representing more than 200.000 m², total investment of approx. €150mn and gross margin of more than 35%.
Project:
(1) Acquisition of a +/-23.000 m² property, built in 1995 in the centre of Brussels comprising of 17.000 m² of offices, 3.750 m² of residentials (32 apartments), 900 m² retails space and 110 car parks. 4.700 m²of offices have already been sold, the apartments and the retails are fully rented. The remaining empty offices space (12.500 m²) will be sold to small and mid-corporates but also to public entities.
(2) The Sponsor also wishes to use a part of the requested amount to refinance a part of its existing debts.
