IVG Institutional Funds has confirmed the sale of the Avenue des Arts 53 building located in the Leopold District to a Korean family office, NXMH. The sale represents one of the first institutional office deals in Brussels for 2012, the company said. The deal price amounted to EUR 16 mln.
IVG Institutional Funds has confirmed the sale of the Avenue des Arts 53 building located in the Leopold District to a Korean family office, NXMH. The sale represents one of the first institutional office deals in Brussels for 2012, the company said. The deal price amounted to EUR 16 mln.
The property offers a total area of 5,600 m2 and is let on short-term leases to various tenants including the Embassy of Finland, Deutsche Telekom and the American Chamber of Commerce. It comprises 12 floors of which three are underground and 104 parking places.
The purchase is the first for Korean investor NXMH in Brussels. Its parent company NXC is the holding of the J. Kim family, founder of the Nexon company, one the world's most famous developers of online games.
CBRE and Cushman & Wakefield acted for IVG Institutional Funds as co-exclusive agents whilst Clifford Chance advised on legal and tax elements.
