21
October
2014
|
00:00
Europe/London

CORUM AM acquires first office building in Brussels

CBRE assisted IVG Institutional Funds Gmbh in the sale of the office building located Kleine Kloosterstraat 10 in Brussels

CORUM Asset Management has signed, on behalf of its diversified REIT CORUM Convictions, the acquisition of an office building belonging to IVG Institutional Funds Gmbh Located in Brussels Airport District (1932 Zaventem, Kleine Kloosterstraat 10), the property totals 7,573 m² of office areas and is fully let to BRIDGESTONE EUROPE SA on the basis of a 9-year lease of which 7 years remain.

The average net initial yield (acte-en-mains) generated by the investments realized on behalf of CORUM CONVICTIONS amounts to 8.15% (this rate being achieved thanks to new or recent buildings which make the main part of the portfolio)

Renaud des PORTES de LA FOSSE, General Manager of CORUM Asset Management, says : "With this asset, we continue our development in the euro zone being now present in five countries: France, Spain, Portugal, Germany, and Belgium. CORUM CONVICTIONS, whose capitalization is about to reach 200 million EUR, fulfills more than ever its diversification and return objectives thanks to a portfolio which predominantly consist of new or recent assets with an average secured cash flow of more than 6 years on 70%. We should furthermore announce at the end of this year new acquisitions in the euro zone."

The seller was assisted in this transaction by the real estate advisor CBRE (Nicolas Durdu). Baker & McKenzie (Rudy Dupont) advised the seller while Urban Law (Rahim Samii) advised the buyer.

CORUM CONVICTIONS follows an open and opportunistic strategy which aims at offering high returns by investing in all asset classes (office, retail, parking, healthcare etc.) in France and Europe (Euro zone).




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