Aareal Bank financed the largest real estate transaction in the Belgian market last year.
Aareal Bank financed the largest real estate transaction in the Belgian market last year.
The German lender provided a €152 mln loan for the €300 mln acquisition of the Belair office and administration complex in Brussels by a joint venture consisting of the Hannover Leasing Gruppe and an Asian institutional investor.
Aareal acted as arranger and facility and security agent on the loan which has a term of 10 years. Simultaneously with the closing of the transaction, the loan was partially syndicated to a large German insurance company.
The fully refurbished Belair complex is centrally located in Brussels between Boulevard Pachéco and the Rue Royale. The complex has a lettable office floor space of around 64,000 m2, administration facilities of around 15,000 m2 and 681 parking spaces. The premises are let to the Belgian Federal Police on a long-term lease.
