German fund manager Union Investment has sold an office portfolio comprising five individual properties near Brussels International Airport to Australian fund manager RF Capital for an undisclosed sum.
The five assets, which offer a total rental space of around 64,000 m2, were held in its open-ended real estate fund Unilmmo: Europa. They are all located on Da Vincilaan in the Corporate Village business park and were acquired between 2002 and 2008.
The buildings vary in height from six to nine storeys and were designed by US architects Kohn Pedersen Fox. They have LEED Gold certification. The names of the properties – Davos, Elsinore, Figueras, Caprese and Bayreuth – are all places associated with European art.
According to Union Investment, Sydney-based buyer RF Capital is actively investing into Europe in all asset classes and acquired Corporate Village on behalf of one of its funds.
Following the sale, the German fund manager continues to hold six commercial properties in Brussels with a total value of some €230 mln, comprising four office properties, a Radisson Blu Royal hotel and a Motel One.
Union Investment was advised on the transaction by Cushman & Wakefield and on legal aspects of the deal by Clifford Chance.
