Brussels-listed Cofinimmo has announced the disposal of three properties for a total of EUR 36.8 mln. This amount represents a realised gain of 1% compared to the total investment value of the assets. Cofinimmo said the sales were in line with its stated asset arbitrage policy. The proceeds will be reinvested in the company's investment programme, amounting to EUR 77.9 mln for the remainder of this year.

Brussels-listed Cofinimmo has announced the disposal of three properties for a total of EUR 36.8 mln. This amount represents a realised gain of 1% compared to the total investment value of the assets. Cofinimmo said the sales were in line with its stated asset arbitrage policy. The proceeds will be reinvested in the company's investment programme, amounting to EUR 77.9 mln for the remainder of this year.

The first asset sold was the 5,755-m2 Kortrijksesteenweg 39 office building in Ghent which houses the regional headquarters of AXA Insurance. The property was acquired by a private investor.

The same private investor acquired Luchthavenlaan 18-20-22 in Vilvoorde. This is a mixed-use building comprising 9,472 m2 of office, warehouse and retail space. In the third deal, a family investment company purchased a 24,300-m2 commercial property located at Noorderlaan 75 in Antwerp.

Cofinimmo, a Belgian and French real estate investment trust, has a portfolio of office, care home and pub assets valued at EUR 3 bn.