Vescore fund invests in Brussels
Quadoro Doric, the portfolio manager of the open-ended special AIF Vescore Sustainable Real Estate Europe (VSREE), has acquired a new construction project in the European neighborhood "Leopold" in Brussels.
The sellers are subsidiaries of the Dutch construction group Royal BAM Group. The general contractor for the construction measures is the Belgian project developer Kairos. The transaction was brokered by Cushman & Wakefield.
The property is an office property that is being built on the site of the former Greek embassy as part of a building complex. The completion of the building with nine upper floors and two basement floors is scheduled for the end of 2017. The leasable area amounts to 3,000 sqm.
"We were convinced by the stable rent level in the immediate vicinity, the limited supply of real estate in the Brussels Leopold district and the expertise of the partners involved," says Axel Wünnenberg, Managing Director of Quadoro Doric.
According to Klaus Kämpf, sustainability expert at Vescore, other decisive points were, in particular, the convenient location, the targeted BREEAM certification for the new building and the flexibility with regard to the use of the property. (ah)
