Leasinvest Real Estate purchases Antwerp properties

Leasinvest Real Estate has acquired four properties in the province of Antwerp with a global fair value of EUR 27.1 mln. The purchase of the properties increases the value of the Belgian listed fund's real estate portfolio to EUR 468 mln.

The acquisition of the four assets is being financed with bank debt and is part of the group's diversification strategy. Leasinvest said the assets include a 28,000 m² storage and distribution site with offices in Wommelgem. The property is leased to eight tenants for a fixed period of an average 4.5 years.

Leasinvest also acquired an 8,000 m² storage hall let to hospitality accessories company Helios for 8.6 more years; an 5,000 m² storage hall let to chocolate accessories group Dobla for a 2.2 years and an 4,800 m² retail building of toyshop retailer Fun.

The total rental income for the four sites is EUR 1.9 mln. The average rental yield is 6.9% and the average remaining duration of the total leases until the first break amounts to 4.6 years.