Our client, a well-established Belgian real estate merchant (value add projects), is the Belgian leader in the purchase/sale of office buildings, industrial, retail and logistics spaces in Belgium. They have a 15-year successful track record: +/-38 acquisitions representing more than 200.000 m², total investment of approx. €200mn and gross margin of more than 35%.
Refinancing of 2 bank loans that have been used to finance 4 offices properties in the Brussels’ periphery.
The reason for refinancing 3 of the 4 buildings is that the long-standing bank partner is no longer involved in the real estate financing in Belgium.
The 4 buildings are valued at €24mn (market value). The annual rental income from the rented parts amounts to €1,1mn.
