The historical Grade A, multi-tenant office complex comprises 22,307 sq m and is split between offices, meeting rooms, retail and archive space. There are also 68 underground parking spaces. There are five occupiers with the main occupier being an international law firm. The average contract length of 13.6 years.
All three buildings underwent significant refurbishment between 2012–2016 and now have modern facilities as well as a BREEAM very good certificate.
Brederode is located in Brussels CBD-submarket, Pentagon City Centre, close to the Belgian Royal Palace and Central Station. The area has a number of financial institutions and is considered to be a place that is good to work, live and to shop.
Piet Van Poppel, Country Manager Belgium, CBRE Global Investors said: “This is a trophy asset that we are very pleased to be able to add to our clients portfolio. The two main occupiers are on long term contracts which offer our client a secure and fully indexed cash flow. We also have the opportunity to increase the income further once we have successfully let the 3,000 sq m that is still vacant.“
“Our local team secured this core asset in an off market transaction on behalf of one of our key global separate account clients. It meets their investment requirements by offering them income security and the location will always be attractive to occupiers.” Added John Mulqueen, Head of Transactions EMEA, CBRE Global Investors.
CBRE Global Investors were advised by JLL and Loyens & Loeff.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $86.6 billion in assets under management* as of December 31, 2016. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.