Tishman Speyer buys Deutsche Bank HQ in Brussels

Tishman Speyer, the global real estate investor, has bought Deutsche Bank's headquarters in Brussels in its first acquisition in Belgium.

Located in the Leopold area of Brussels, the property is near to the main European Parliament complex. It comprises approximately 18,100 m² of office space, 2,600 m² of storage area, five retail units totalling 1,300 m² in area, and 150 car parking spaces.

The property was acquired from DEKA, the German open-ended fund, but the financial details were not disclosed,

The building is the eleventh acquired by Tishman Speyer's European Strategic Office Fund. This is a core fund that has in excess of EUR 1.4 bn of assets in London, Paris, Milan, Hamburg, Munich, and now Brussels.

'We are very pleased to be entering the Brussels market, clearly a leading political, cultural and commercial center. We see this as an opportunity to bring our experience to enhance value in the property, which will sit very nicely in our European Core Fund,' Michael Spies, head of Europe for Tishman Speyer, said in a statement.