European developer-investor Ghelamco has received a €105 mln financing for the acquisition and development of The Wings office led mixed-use development project in Brussels, Belgium.
The whole loan was provided by an unnamed US based investment management firm. The scheme has been designed by Belgian architects, Assar, and is pre-leased to Ernst & Young as its new Brussels headquarters.
The Wings, which has secured planning consent and is currently under construction, will deliver a mixed-use scheme that will encompass circa 37,500 m2 of highly sustainable, Grade-A office space and a circa 14,500 m2 250-key 4-star hotel.
Michael Gheysens, managing director, Belgium, Ghelamco, commented: ‘We are pleased to have worked with JLL to secure a loan financing partner for The Wings, Ghelamco’s latest development and destination in the Diegem region. We look forward to delivering this innovative scheme for all stakeholders over the next two years.’
Claudio Sgobba, senior director, debt and Structured Finance, EMEA, JLL, which advised Ghelamco on the financing, said: ‘Due to the credit profile of this development, best-in-class sponsorship, and triple BREEAM Excellent, Well Gold and DGNB gold certification, we received strong interest from the debt capital markets. We are delighted to have been able to support Ghelamco and structure conditions superior to a partially pre-leased construction loan.’
