AXA Real Estate Investment Managers has completed the acquisition of a fully let office building in Brussels through a sale-and-leaseback operation worth €34.8 mln.
AXA Real Estate Investment Managers has completed the acquisition of a fully let office building in Brussels through a sale-and-leaseback operation worth €34.8 mln.
The property comprises 22,750 m2 of office space and is located in a decentralised area of the Belgian capital.
The acquisition was carried out on behalf of AXA Belgium and brings total investment in Belgium by the French asset management giant to around €750 mln in 2014.
AXA Real Estate manages €4 bn of assets in the Benelux region and has a team of 45 real estate professionals on the ground.
Guy Van Wymersch, head of Benelux at AXA Real Estate, said that the deal shows the investor's ability 'to navigate the unique characteristics of Belgian real estate, such as low yields and rental indexation'.
'During 2015, we expect to continue investing in Belgium on behalf of our clients,' he added.
The deal comes hot on the heels of AXA Real Estate's acquisitions in London, Espoo and Madrid for €208 mln.
The company announced last week that it had bought Camomile court in London, Keilalahdentie 2-4 in Espoo (near Helsinki), as well as Gran Via 37 in Madrid, on behalf of two French institutions.
