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
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).