Germany's Allianz Real Estate has acquired the second office building in the South City office complex from a partnership of Belgian developers Atenor, Espace Midi and BPI. The Broodthaers building consisting of 17,700 m[sup]2[/sup] of office space and three retail units was acquired for EUR 70 mln.
Germany's Allianz Real Estate has acquired the second office building in the South City office complex from a partnership of Belgian developers Atenor, Espace Midi and BPI. The Broodthaers building consisting of 17,700 m2 of office space and three retail units was acquired for EUR 70 mln.
Located just opposite the Gare du Midi in Brussels, the property was completed in November this year and is entirely leased to Infrabel and Smals. The entire scheme offers a total of nearly 31,000 m2 of office accommodation as well as a 142-room hotel. Its first building, named Fonsny, was delivered in December 2009 and sold to Integrale and the Ogeo fund in June 2010.
The 142-room hotel that completes this mixed urban complex will open on 1 March 2011 and will be operated by Rezidor under the Park Inn brand.
'This transaction shows that buildings combining accessibility, durable technical performance and tenant quality are still highly sought after on the Brussels market, and this is expected to be reconfirmed with the sale of the remainder of the complex, i.e. South City Hotel,' the developers said in a statement.
CB Richard Ellis advised the seller.
