Patron Capital enters Belgian market with Brussels office acquisition

The deal, for an undisclosed amount, represents Patron’s first acquisition in the Belgian market.

The modern, 11-storey building, which was completed in 2009, comprises 18,787 m2 of office space, 376 parking spaces, a reception area with concierge, shared meeting room facilities and an on-site café and restaurant.
 
The building is 32% let to tenants including job site Indeed, medical technology firm Avanos, ICT services provider Cheops Technology, medical technology firm Ortho Clinical Diagnostics, and flexible workspace provider Interoffices.
 
Funding for the acquisition came from Patron Capital’s recently closed Fund VI.
 
‘The Aramis building offers an excellent opportunity for us to enter the Belgian market, alongside our partner Suprema, with whom we have already worked on successful projects in Germany,’ said Christoph Ignaczak, investment director and senior partner at Patron Capital.
 
‘The Airport District has seen continuous rental growth since 2012 and has consistently outperformed take-up activity in most CBD sub-markets. It also has strong long-term prospects thanks to new transport infrastructure, a growing trend of occupiers moving to non-city-centre locations, and limited availability of Grade A space. With the building only a third occupied, we see significant potential to attract new tenants by upgrading the space, improving the levels of service and amenity, and through active asset management.’
 
Daniel Cukierman, managing partner of Suprema, added: ‘With growing demand for space in the Airport District, we are excited to complete this deal with Patron Capital that will see us working together to improve and reposition this asset, bringing approximately 13,000 m2 of currently vacant high-quality office space to the market. Our focus will be on creating an environment that provides the flexibility, service and amenities modern occupiers want in a post-Covid world.’