Union Investment buys office property in Brussels' CBD

German investment manager Union Investment Real Estate has acquired the NewCort office building in the central business district of Brussels.

The financial details of the acquisition on behalf of Union Investment's institutional fund DEFO-Immobilienfonds 1 were not disclosed. The vendor was a private investor represented by Tribeca Capital Partners.

Located at Avenue de Cortenbergh 172 in the Leopold district and delivered in 2008, NewCort comprises 6,220 m2 of offices and 225 m2 of archiving space over a ground floor and seven upper levels. There are also 35 parking bays. The building is fully let to eight tenants.