Brussels-based developer Extensa Group has sold an office building under construction in the Belgian capital for €200 mln.
Swiss insurer Baloise has acquired the Herman Teirlinck building, on the Tour & Taxis site, which will house 2,600 officials working for the Flemish regional government.
The property is due to be completed in the second quarter of this year and will span 51,000 m2 of office space across 15 floors, with parking for 311 cars, 31 motorbikes and 200 bicycles.
The transaction took the form of an acquisition of 100% of the shares in NV VAC De Meander, the company which owns the development site, by Baloise's Belgian, German and Luxembourg branches.
Extensa Group owns and manages office and logistics properties in Belgium and Luxembourg, and together with listed real estate company Leasinvest has more than €1 bn of assets under management.
