Belgian real estate company Banimmo said it is selling the remaining 40% interest in the Brouckère Tower building to Morgan Stanley Eurozone Office Fund (MSEOF) for an undisclosed amount. MSEOF bought the first 60% share in the building at the end of 2006, when it also agreed on an option to acquire the remaining share of the Brussels building by the end of 2007. Banimmo added that it had recently completed the renovation of some 6,600 m[sup]2[/sup] of the complex, which comprises some 32,500 m[sup]2[/sup] of offices, 1,800 m[sup]2[/sup] of retail space, as well as some 520 parking spaces. Banimmo said the transaction will generate net profits of EUR 9.8 mln for the current year.
Belgian real estate company Banimmo said it is selling the remaining 40% interest in the Brouckère Tower building to Morgan Stanley Eurozone Office Fund (MSEOF) for an undisclosed amount. MSEOF bought the first 60% share in the building at the end of 2006, when it also agreed on an option to acquire the remaining share of the Brussels building by the end of 2007. Banimmo added that it had recently completed the renovation of some 6,600 m2 of the complex, which comprises some 32,500 m2 of offices, 1,800 m2 of retail space, as well as some 520 parking spaces. Banimmo said the transaction will generate net profits of EUR 9.8 mln for the current year.
