Seller AXA IMRA - Real Assets has lined up a South Korean buyer for an office block it owns in the Louise District of the Belgium capital, Brussels.
Sister weekly magazine EuroProperty reports Korean Investment & Securities has agreed to pay around €150 mln for the office at a yield of just over 4%.
At least one of the under bidders was also Korean, according to sources.
Elsewhere in the magazine is a warning that new lending on UK property in 2019 ‘should be carefully monitored’ after an uptick in financing volume last year. The Cass Business School UK Commercial Real Estate Lending Report singles out retail and development as particular problem areas.
