Cofinimmo has acquired 98% of the shares of La Rasante Tennis Club SA, a 100% subsidiary of the Aspria Group, for EUR 34.8 mln. La Rasante owns the Royal La Rasante sports club in the Brussels municipality of Woluwe-Saint-Lambert, which comprises 11,481m[sup]2[/sup] of built surface, including 4,442 m[sup]2[/sup] of parking. The high-quality sporting (fitness, tennis and hockey) and wellness (pools, spa and garden) infrastructures along with a restaurant, child care centre and conference rooms were fully redevloped in 2005.
Cofinimmo has acquired 98% of the shares of La Rasante Tennis Club SA, a 100% subsidiary of the Aspria Group, for EUR 34.8 mln. La Rasante owns the Royal La Rasante sports club in the Brussels municipality of Woluwe-Saint-Lambert, which comprises 11,481m2 of built surface, including 4,442 m2 of parking. The high-quality sporting (fitness, tennis and hockey) and wellness (pools, spa and garden) infrastructures along with a restaurant, child care centre and conference rooms were fully redevloped in 2005.
Under the deal, Aspria will gain long-term usage rights of up to 30 years (with a minimum of 20 years) on the La Rasante site, generating an annual income of EUR 2 mln, with the initial yield set at 5.75%. Set up in 2000, the Aspria group operates five sports and wellness clubs in Brussels, Hamburg and Berlin.
Cushman & Wakefield advised Aspria on the transaction.
