Catella Real Estate KAG has bought the Princess Centre in Brussels on behalf of its Sarasin Sustainable Properties - European Cities open-ended fund, representing a partnership with Bank Sarasin. The transaction price amounted to EUR 21 mln.
Catella Real Estate KAG has bought the Princess Centre in Brussels on behalf of its Sarasin Sustainable Properties - European Cities open-ended fund, representing a partnership with Bank Sarasin. The transaction price amounted to EUR 21 mln.
The mixed-use scheme provides a total of 5,300 m2 of office, retail and residential space at rue Princess and is being completely renovated by Belgian developer Kairos. It is multi-let to a number of international companies and has an occupancy rate of 75%.
The building aims to achieve a BREEAM Very Good certification on completion at end-2013.
Cushman & Wakefield acted as transaction advisor.
