Leasinvest Real Estate SCA sells the semi-industrial part of the Brixton Business Park in Zaventem
26 Febbraio 2021 - 5:40PM
Leasinvest Real Estate SCA sells the semi-industrial part of the
Brixton Business Park in Zaventem
Today the deed has been executed regarding the
sale of the semi-industrial part of the Brixton Business Park in
Zaventem, as already announced in the latest press release
regarding the 2020 annual results. The buyer is an affiliate of
Exeter Property Group. Knight Frank acted as the broker in this
transaction.
The Brixton Business Park comprises 5
semi-industrial buildings with a total area of 18,788 sqm. This
divestment is fully in line with the strategy of Leasinvest, which
is aimed at selling non-strategic properties and focusing on new
sustainable projects. The current favorable market situation
enabled a successful sale of this type of property.
This divestment also has favorable financial effects: not only
does the debt ratio now reduce to the targeted level of less than
55%, the realized capital gain on this transaction has also allowed
Leasinvest to expedite the reimbursement of part of our derivatives
portfolio, thus further reducing the average financing cost
following the earlier repayment of December 2020.
Michel Van Geyte, CEO: “It is with a certain degree of
nostalgia that we part from this site that belonged to our
portfolio since the start in 1999. It is however a necessary step
towards developing a sustainable real estate portfolio.”
For more information, contact
Leasinvest Real Estate
MICHEL VAN GEYTE
Chief Executive Officer
T: +32 3 238 98 77
E: michel.van.geyte@leasinvest.be
On LEASINVEST REAL ESTATE SCA
Leasinvest Real Estate SCA is a Public BE-REIT (SIR/GVV) that
invests in high quality and well-located retail buildings and
offices in the Grand Duchy of Luxembourg, Belgium and Austria.
On 31 December 2020, the total fair value of the directly held
real estate portfolio of Leasinvest amounted to € 1.14 billion,
spread across the Grand Duchy of Luxembourg (56%), Belgium (28%)
and Austria (16%).
Moreover, Leasinvest is one of the most important real estate
investors in Luxembourg.
The public BE-REIT is listed on Euronext Brussels and has a
market capitalization of € 450 million (value on 25 February
2021).
- 2021 02 26_LRE Verkoop BBP_ENG