Spanish property company Luresa, a subsidiary of the Union Resinera Espanola group, is believed to have put the Astro tower in Brussels on the market with a price tag of €160 mln.
Spanish property company Luresa, a subsidiary of the Union Resinera Espanola group, is believed to have put the Astro tower in Brussels on the market with a price tag of €160 mln.
According to well-informed market sources, the 107-metre high office tower has received a dozen bids with the winning party expected to be selected as early as next week.
The property is expected to trade for a record low yield of 4.5%.
Luresa bought the scheme in 2008 for about €100 mln from a consortium of Dutch lender SNS Property Finance (now nationalised bad bank Propertize) and developer Hugenholtz Property Group Belgium (HPG).
The 33-storey building consists of 36,000 m2 of office space and 250 parking spaces. Located on the edge of the Leopold district, the property is fully leased to the unemployment administration office with a 25-year fixed lease.
HPG teamed up with SNS Property Finance, previously known as Bouwfonds Property Finance (BPF), in April 2005 to acquire the tower from Fortis Real Estate for some €67 mln.
