German investor Hannover Leasing has completed the acquisition of the Belair office complex in Brussels, the largest real estate transaction announced in Belgium last year.

German investor Hannover Leasing has completed the acquisition of the Belair office complex in Brussels, the largest real estate transaction announced in Belgium last year.

Hannover Leasing and an institutional investor from Asia signed a share deal in June 2013 to acquire the eleven-storey building complex located in the government district of the Belgian capital for €300 mln. It was the largest transaction by volume in the Belgian real estate market during 2013.

The vendor was a joint venture between project developers Immobel and Breevast. The transfer of ownership was finalised on 10 March 2014. German lender Aareal Bank provided €152 mln in financing for the acquisition.

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