Patrizia buys €90m Brussels office asset for Swiss investor

Investment manager Patrizia has bought a €90m office building in Brussels on behalf of a Swiss investor.

The €40bn real estate manager acquired the 17,237sqm building in Belgian capital’s central business district from an undisclosed buyer. The asset is 98% let to the European Commission, Patrizia said.

The building offers 12 upper floors including a top floor terrace. The property, which also includes two ground floor retail units, has three further underground floors, providing car and motorcycle parking space as well as cycle storage.

Etienne Marcot, the region head in south-west Europe at Patrizia, said: “This first acquisition for a new Patrizia client highlights the continued demand by global institutions for strong European real estate but also our position as partner of choice to source and manage these investments.

“The Brussels property is exceptionally well let and strongly located, offering sustainable cash flows together with the potential for further reversion.”