Befimmo's portfolio up EUR 745m in 2006

By A staff reporter 2007-03-02T00:00:00+00:00

Brussels-based real estate investment firm Befimmo said the total value of its portfolio reached EUR 1.8 bn last year, up EUR 745 mln in 2005. The large increase in value follows the purchase last December of 90% of the state-owned Fedimmo's portfolio for EUR 725 mln. Befimmo said it is planning a capital increase by mid-2007.

Brussels-based real estate investment firm Befimmo said the total value of its portfolio reached EUR 1.8 bn last year, up EUR 745 mln in 2005. The large increase in value follows the purchase last December of 90% of the state-owned Fedimmo's portfolio for EUR 725 mln. Befimmo said it is planning a capital increase by mid-2007.

The portfolio comprises more than 900,000 m² of office space, the bulk of which is in the Brussels region (81%). The remainder is in provincial towns in the Flanders (14%) and Wallonia (5%) regions.