Belgian real estate company Cofinimmo has announced the conclusion of three transactions valued at EUR 137 mln that add over 50,000 m[sup]2[/sup] to its office portfolio. The average initial rental yield aimed will amount to circa 6.30%.

Belgian real estate company Cofinimmo has announced the conclusion of three transactions valued at EUR 137 mln that add over 50,000 m2 to its office portfolio. The average initial rental yield aimed will amount to circa 6.30%.

'These acquisitions fit precisely in Cofinimmo's strategy to invest in office buildings occupied on a long-term basis and to present new office surfaces to potential clients as well as additional flexibility to existing clients wishing to extend their office surfaces,' the company said in a statement on Friday.

Cofinimmo is acquiring 100% of Media Corner, owner of the television broadcaster RTL's new 18,000 m2 building 'RTL House' in Schaerbeek.

The other two acquisitions are development projects. One is a plot of land in Groot Bijgaarden in Brussels that includes a 10,000 m2 office building that will be completely renovated. Cofinimmo is also buying City-Link, owner of a plot of land in Antwerp with building rights for four office buildings (25,000 m2) and homes.

At the same time the company sold seven buildings in Antwerp, comprising a total of 32,000 m2 of space, for EUR 71.5 mln to investment fund managed by Tribeca Capital. The disposal price represents a realised gain of EUR 17.8 mln.