Brussels-listed real estate firm Cofinimmo has completed the divestments of six office buildings for a total amount of €60 mln.
The sales, recorded at the end of December, allow the firm to meet the €300 mln divestment target established at the beginning of the year.
Jean-Pierre Hanin, CEO of Cofinimmo said: 'We are very pleased with the completion of these divestments, which were budgeted in 2023 and are fully in line with our overall portfolio rebalancing strategy. This demonstrates our ability to perform selective asset arbitrages in the current challenging market environment.'
The buildings sold include four assets in the Park Hill office building complex, in Brussels, offering a total of 16,500 m2 of office space.
This marked the completion of a wider objective set in May 2021 to dispose of 17 office buildings located in the Antwerp and Brussels periphery as well as in the decentralised area of Brussels, worth over €80 mln.
By December 2021, 13 of the 17 assets were sold for a fair value of approximately €60 mln. This new transaction completes the disposal of the four remaining assets that had been earmarked for sale.
Of the remaining two properties that were sold, one was situated at Herrmann-Debroux 44-46 in the decentralised area of Brussels. This building offers approximately 9,700 m2 of office space and 167 parking spaces.
Cofinimmo also divested the full ownership of the Everegreen office building, located in the decentralised area of Brussels. This
building comprises more than 16,000 m2 of office space and more than 300 parking spaces.
