{"id":1004503324,"date":"2021-01-11T03:12:05","date_gmt":"2021-01-11T11:12:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004503324"},"modified":"2021-01-11T03:12:05","modified_gmt":"2021-01-11T11:12:05","slug":"savills-investment-management-pays-210m-for-belgium-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/savills-investment-management-pays-210m-for-belgium-asset\/","title":{"rendered":"Savills Investment Management Pays $210M for Belgium Asset"},"content":{"rendered":"
\"\"<\/a>

Brussels skyline. Image by LVER via Pixabay.com<\/em><\/p><\/div>\n

Savills Investment Management has acquired an office building near Brussels\u2019 central business district in a sale-leaseback deal. Savills acquired the property on behalf of a foreign investor from AXA and the current tenant of the building, Euroclear, for approximately 173 million euros ($210.4 million).<\/p>\n

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READ ALSO<\/strong>: Americold Realty Trust Closes $1.7B Acquisition<\/a><\/p>\n

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Located at 1 Blvd. du Roi-Albert II, the office building was developed in the 1990s and renovated between 2017 and 2018. The 36,000-square-meter (387,500-square-foot) property is fully leased to Belgium-based financial services company Euroclear, which signed a 12-year lease for the space, according to Savills.<\/p>\n

The property is situated just outside Brussels North and the city\u2019s central business district, and within walking distance to Rogier Station, a nearby transit hub. Savills noted that the attractive submarket that its latest investment is located in is also home to several international headquarters and other high-rise office buildings.<\/p>\n

Savills was advised by PwC and Treex, while the seller was advised by Loyens & Loeff and JLL.<\/p>\n

Brussels’ appeal to investors<\/h2>\n

Pierre Escande, Savills Investment Management\u2019s head of investment for France and BeLux, said in prepared remarks that Belgium, and specifically Brussels, is still at the heart of its 2021 investment strategy. Elsewhere in Europe, Savills also teamed up with Kajima Properties Europe<\/a> in August 2020 to launch a partnership whose first acquisition was a 1.6 million-square-foot logistics park in Poland.<\/p>\n

According to Savills, the Brussels office market is attractive to European institutions and government organizations looking for long leases. The region continues to attract investors and saw its largest single-asset transaction ever in January 2020<\/a>, when The Brussels Finance Tower sold for a record 1.2 billion euros (approximately $1.3 billion).<\/p>\n","protected":false},"excerpt":{"rendered":"

The company acquired an office building in Brussels through a sale-leaseback deal.<\/p>\n","protected":false},"author":883,"featured_media":1004503357,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,16,21742,21747],"tags":[32796,36147,49966],"class_list":["post-1004503324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-international","category-latest","category-office","tag-jll","tag-pwc","tag-savills-investment-management-sgr"],"acf":[],"yoast_head":"\nSavills Investment Management Pays $210M for Belgium Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/savills-investment-management-pays-210m-for-belgium-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Savills Investment Management Pays $210M for Belgium Asset\" \/>\n<meta property=\"og:description\" content=\"The company acquired an office building in Brussels through a sale-leaseback deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/savills-investment-management-pays-210m-for-belgium-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-11T11:12:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/brusselsstock.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/savills-investment-management-pays-210m-for-belgium-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/savills-investment-management-pays-210m-for-belgium-asset\\\/\"},\"author\":{\"name\":\"Jackson Chen\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"headline\":\"Savills Investment Management Pays $210M for Belgium Asset\",\"datePublished\":\"2021-01-11T11:12:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/savills-investment-management-pays-210m-for-belgium-asset\\\/\"},\"wordCount\":293,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/savills-investment-management-pays-210m-for-belgium-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/01\\\/brusselsstock.jpg\",\"keywords\":[\"JLL\",\"PwC\",\"Savills Investment Management SGR\"],\"articleSection\":[\"Deals\",\"International\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/savills-investment-management-pays-210m-for-belgium-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/savills-investment-management-pays-210m-for-belgium-asset\\\/\",\"name\":\"Savills Investment Management Pays $210M for Belgium Asset - 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