JER Catalyst has sold two building in the centre of Brussels to a private Belgian investor for an undisclosed sum. The first building comprises 2,400 m[sup]2[/sup] of space and features a striking facade on Rue de Namur 72-74. The property includes commercial premises on the ground floor with 400 m[sup]2[/sup] occupied by AXA Banque and office space on the other floors leased by various tenants. Part of the building with considerable potential for development lies vacant, JER Catalyst said.
JER Catalyst has sold two building in the centre of Brussels to a private Belgian investor for an undisclosed sum. The first building comprises 2,400 m2 of space and features a striking facade on Rue de Namur 72-74. The property includes commercial premises on the ground floor with 400 m2 occupied by AXA Banque and office space on the other floors leased by various tenants. Part of the building with considerable potential for development lies vacant, JER Catalyst said.
The second building (Rue Theresienne 6) consists of 12 furnished flats covering a total area of 1,000 m2.
Cushman & Wakefield acted for the seller.
In December 2006, JER Partners, the private equity arm of J.E. Robert Cos., and its joint venture partner Catalyst Capital acquired a portfolio of seven B-grade mixed-use properties in Brussels from Swedish property company Kungsleden for EUR 90.5 mln. The portfolio, bought for JER's Europe Fund III, consisted of the 55,000-m2 office and retail Manhattan Centre in the North District, six smaller predominantly office buildings, and the residential property.
