GLL Real Estate Partners, a real estate investment company jointly owned by Italian insurance firm Assicurazioni Generali and the management of the firm, has acquired an office property in Brussels for around EUR 40mln.
GLL Real Estate Partners, a real estate investment company jointly owned by Italian insurance firm Assicurazioni Generali and the management of the firm, has acquired an office property in Brussels for around EUR 40mln.
South Express A2 is an office building of more than 10,000 m2 situated opposite Brussels' South Station, the international hub for Thalys and Eurostar trains. The recently completed building is soon to be occupied by Belgian rail operator SNCB.
King Sturge advised the South Express joint venture which owned the building.
GLL initiates, structures and manages open and closed funds on behalf of institutional investors. The company currently manages seven funds totalling EUR 6bn.
'The transaction perfectly illustrates that prime yields in Brussels, now standing at 5.5%, remain fairly stable', said Stefan Kennes, director and head of King Sturge's investment department.
