BNP Paribas Real Estate Investment Management (REIM) Belgium has acquired the Opera III residential building in Brussels, Belgium.
Financial details were not disclosed.
The deal was conducted on behalf of open-ended pan European fund Afer Pierre SC (managed by BNP Paribas REIM) and Afer Pierre Holding Belgium. BNP Paribas purchased the asset's owner, Konkel Properties.
The 3,848 m2 property comprises 33 large apartments spread across eight floors that are almost fully occupied and let to both Belgian and international clients.
Casper van der Woude, director Belux for BNP Paribas REIM, commented: ‘This acquisition highlights BNP Paribas REIM’s ability to source investment opportunities on an off-market basis which enables our institutional investors to diversify into other asset classes in the Eurozone.
'It helps strengthen the fund’s portfolio already composed of two office buildings and one residential asset in France and a logistics platform in the Netherlands.’
Located in Woluwe Saint-Pierre, one of the most exclusive and greenest residential municipalities in both Brussels and Belgium, the property is close to many green areas and shops.
The well-to-do residential area includes the wide, park-lined, Avenue de Tervueren and the numerous embassies located near the Montgomery Square.
BNP Paribas REIM was advised by Allen & Overy, ProGroup, KPMG France and BNP Paribas Real Estate.
At the end of 2021, BNP Paribas REIM managed €29.7 bn of living European assets on behalf of its over 200 institutional and 150,000+ private investors.
