AXA Investment Managers - Real Assets has acquired the Passport office development at Brussels Airport for €131m.

The asset manager said it acquired the asset, on behalf of one of its clients, from real estate developer Codic.

Passport is a fully let, multi-tenanted office building that was delivered in March this year. The asset comprises around 28.375sqm of gross lettable area over two interconnected wings and includes 361 parking spaces.

Nicolas Renders, the head of asset management Belux at AXA IM - Real Assets, said: “We believe that Passport’s location within the Brussels Airport complex, its high-quality specifications and blue-chip tenant base provide us with an opportunity to generate long-term sustainable returns for our client.”

Furthermore, the property is also well positioned to benefit from the continued expansion of the wider complex as part of the airport’s long-term development plan, Renders said.

“This acquisition of this high-quality office asset also further highlights our capabilities in sourcing and acquiring attractive core opportunities on behalf of our clients.”