Cofinimmo boasts top Belgian property portfolio at end-2007

Belgian real estate investment trust (REIT) Cofinimmo closed 2007 with the leading property portfolio in Belgium, according to a ranking of the top 100 portfolios in the country published for the fourth consecutive year by local newsletter Expertise News. With a property portfolio value of EUR 2.73 bn at end-2007, Cofinimmo edged out insurers AXA Belgium (property portfolio value of EUR 2.66 bn) and Fortis Real Estate (EUR 2.24 bn) for the number one spot. Expertise News noted Cofinimmo also secured the biggest Belgian property deal in 2007, buying the 90% stake in the Inbev pub portfolio (Pubstone) for EUR 426 mln.

The total capital value of the top 100 Belgian property portfolios at end-2007 stood at EUR 33.3 bn, Expertise News said, up 13.3% over 2006. Important trends included the breakthrough of fund and asset managers, who accounted for 28% of total capital value, with new management companies set up by local players like Fidentia, Quares and Tribeca. Also noteworthy was the increasing weight of alternative asset investments, accounting for 10% of capital value, in properties such as residential premises, hotels, retirement homes and pubs.