Europa Capital, the fund manager of Europa Fund III, has acquired the Realex site on Rue de la Loi/Wetstraat in Brussels from Dexia Insurance Belgium for an undisclosed sum.
Europa Capital, the fund manager of Europa Fund III, has acquired the Realex site on Rue de la Loi/Wetstraat in Brussels from Dexia Insurance Belgium for an undisclosed sum.
Realex comprises a cleared land site with planning consent for a 40,000-m2 office development. The property is situated in the Leopold district of Brussels, immediately next to buildings occupied by the European Commission.
Graham Edwards, the Belgian and Luxembourg Country Partner of Europa Capital, commented: 'We are delighted to have been given the opportunity to purchase this unique site from Dexia Insurance Belgium. We look forward to working towards the development of an iconic office building located in the heart of the European district.'
Noel Manns, Principal of Europa Capital, stated: 'We are pleased to support our partner in the purchase of this excellent site in the heart of the European Union's preferred office location. We aim to create a world class building on this site.'
Europa Capital is an independent real estate fund management group operating from offices across Europe. Since 1995, Europa Capital’s Principals have collectively raised six real estate funds and committed to over 60 transactions totalling some EUR 6 bn across 17 European countries.
In 2008, Europa Capital closed two new investment funds for European property investment being Europa Fund III and Europa Emerging Europe which invests in Eastern Europe. Together, these funds give Europa Capital EUR 895 mln of additional equity to invest.
