Patrizia has invested €190m in Brussels to buy a portfolio of six office buildings and one retail asset from Athora Belgium.
The real estate manager said it has gained the portfolio, which includes the 25-storey Louise Tower, through the acquisition of Athora Real Estate Investments.
The 30,000sqm Louise Tower is earmarked for a major redevelopment expected to be completed by the end of 2022.
Patrizia said the portfolio includes an additional five office properties and one high street retail asset, let to over 45 tenants spread over 35,000sqm throughout well-known locations in the city.
Sheelam Chadha, who leads transactions in the Patrizia Brussels office, said: “This exciting and environmentally sustainable project will have a highly positive impact on Brussels prime office options for occupiers.
“With PATRIZIA’s long track record of redeveloping properties and executing value add strategies, we are confident that this latest acquisition will be highly successful.”
The acquisition of this portfolio increases Patrizia’s total assets under management in Benelux to around €1.62bn.