Listed Belgian real estate company Cofinimmo has sold an office building in Brussels for €29 mln to French real estate investment fund Corum Origin.
The property is located on Avenue Jacques Georgin 2, in the municipality of Schaerbeek.
Completed in 2007 and then acquired by Cofinimmo, the complex is a build-to-suit project designed by Archi2000 for RTL Belgium, subsidiary of pan-European media group RTL, which has been leasing it since.
The property includes offices and TV/radio studios on a total surface of about 17,700 m2, with about 340 parking spaces.
It is home to TV channels RTL-TVI, RTL Club and RTL Plug, the radio stations Bel RTL and Radio Contact, the streaming service RTLplay, the news portal RTL Info and the advertising company IP.
RTL House is situated in Brussels’ North-East 'Media District' near the offices and studios of Belgian public service broadcasters RTBF and VRT.
Jean-Pierre Hanin, CEO of Cofinimmo, said: ‘This transaction is fully in line with our strategy of global rebalancing of our portfolio and demonstrates our ability to carry out asset arbitrages.’
CBRE advised Cofinimmo on the transaction, while JLL acted as co-agent.
The deal is believed to be one of two acquisitions carried out by Corum this week. The investment group also bought APG's headquarters in the Netherlands in a deal said to be around €45 mln, or roughly 18% below guide price, according to press reports. Pension fund manager APG is believed to be leasing back the property for more than 16 years.
