German property investor KanAm Grund Group has purchased the South Crystal office building in the Belgian capital Brussels for its KanAm Grund European Cities KI fund, aimed at institutional investors from the banking sector.
The nine-storey building with 7,300 m2 of lettable space was bought for an undisclosed amount from Belgian insurance group Ethias. Alongside the office levels, the building houses a small supermarket, a snack bar, and a crêperie on street level. The building also offers an underground car park with 34 spaces.
The complex is located to the southeast of the city centre, in the South District of Brussels at the corner of Avenue Fonsny and Rue de Russie, directly opposite the main entrance to the Brussels-South railway station, Brussels Midi. The main tenant of the property is Infrabel, an almost 100% state-owned company, which builds, operates, and maintains the Belgian railway network.
South Crystal in Brussels is the sixth property to be included in the KanAm Grund European Cities KI, which is mainly used by savings and loans institutions, and cooperative banks. The KanAm Grund European Cities KI special real estate fund now holds investments in three major European cities, Brussels, Dublin, and Lyon.
