AIK buys Tervuren Plaza

AIK (APO Immobilien-Kapitalanlagegesellschaft mbH), the German property investment company for occupational pension funds and insurance companies, purchased the Tervuren Plaza from IVG. The value of the investment transaction is estimated at 21 million EUR. CBRE advised the buyer in the transaction.

Tervuren Plaza is located along the Avenue de Tervuren in Brussels and consists of two assets with a common underground parking. The largest office building comprises 6.817 m² (179 m² storage space) and the smaller one 2.584 m². The building was built in 1986 and renovated in 2002 and 2003.

The Avenue de Tervuren is a mixed neighborhood with office buildings, apartment blocks and villa’s. This green environment connects the European quarter to Brussels’ South East where the most prestigious residential areas are located.

The Palais Stoclet, designated as a world heritage site by UNESCO in June 2009, is located directly across the street.

The Tervueren Plaza is fully let to two tenants. The larger building is leased to Callatay & Wouters while the Medicis medical center occupies the smaller building.

AIK will continue to invest in Brussels.