Belgian real estate group Cofinimmo has acquired all the shares in the entity which owns the newly built West-End business park complex located in Groot-Bijgaarden in the western periphery of Brussels.
Belgian real estate group Cofinimmo has acquired all the shares in the entity which owns the newly built West-End business park complex located in Groot-Bijgaarden in the western periphery of Brussels.
In accordance to the acquisition agreement signed in April 2007, the consideration for the shares came to EUR 22.2 mln. The business park comprises 10,000 m2 of offices and 205 parking places. The park is already 60% let, mainly to Adecco and Grant Thornton for durations in excess of 10 years.
Cofinimmo said that when fully let, the gross rental yield on the property is expected to be 7.1%.
The Belgian real estate company also announced it acquired five newly built nursing homes in France from the Korian Group for a total amount of EUR 42.8 mln. The transfer of the assets comprising 423 beds over 21,910 m2 was part of a larger agreement concerning the acquisition of 19 healthcare institutions signed in May 2008.
The gross rental equivalent yield of these 5 additional homes stands at 6.47%. They are operated by the Korian Group with whom triple net leases with a fixed duration of 12 years have been concluded for all buildings.
