Spanish property company Luresa, a subsidiary of the Union Resinera Espanola group, has bought the Astro tower in Brussels from a consortium of Dutch investor SNS Property Finance and developer Hugenholtz Property Group Belgium (HPG). Financial details were not disclosed, but newspaper Les Echos estimates the price at between EUR 90 mln and EUR 100 mln.
Spanish property company Luresa, a subsidiary of the Union Resinera Espanola group, has bought the Astro tower in Brussels from a consortium of Dutch investor SNS Property Finance and developer Hugenholtz Property Group Belgium (HPG). Financial details were not disclosed, but newspaper Les Echos estimates the price at between EUR 90 mln and EUR 100 mln.
The 33-storey building consists of 36,000 m2 of office space and 250 parking spaces. Located on the edge of the Leopold district, the property is fully leased to financial group Fortis through 2014. CB Richard Ellis acted for the buyer.
HPG teamed up with SNS Property Finance, previously known as Bouwfonds Property Finance (BPF), in April 2005 to acquire the tower from Fortis Real Estate for some EUR 67 mln.
The Unión Resinera Española, founded in 1898, currently focuses its activities on grapes and ham derivatives as well as real estate investment. In 2001, the company had a total turnover of EUR 29 bn, and a capital of EUR 46 bn.
