AEW has acquired three prime high street retail units in Rue Neuve, Brussels.
The real estate fund manager said the transaction was completed on behalf of a French institutional client and marks the first retail acquisition by AEW under the mandate in Belgium.
The three units comprise a total of 6,800sqm of retail space and are fully leased to fashion retailer Zara, French men’s clothing company Celio, and British cosmetics retailer Lush.
Patrick Meutermans, country head Belgium at AEW, said: “Located on Rue Neuve, where footfall is high and vacancy is virtually non-existent, this asset is 100% let to long-standing tenants and leading brands, generating a stable core income profile. This investment underscores AEW’s expertise in the retail market across Belgium and Europe, where we manage a growing portfolio.”
Sebastien Cappigny, fund manager at AEW, added: “This investment presents an attractive opportunity for our client to enter the prime high street retail market in the capital of Belgium. Our investment teams successfully secured this rare opportunity, enhancing the diversification of our client’s real estate portfolio in alignment with their objectives.”
AEW currently manages a total of 153,000sqm in Belgium, encompassing logistics, offices and retail assets.
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