Tishman Speyer has made its maiden acquisition in Belgium with the purchase of an office scheme in Brussels.
The building complex, located at 13-17 Avenue Marnix, Leapold, close to the main European Parliament buildings, is Deutsche Bank’s Brussels headquarters.
DEKA, the German open-ended fund sold the property which comprises 181,000 sq ft of office space, 26,000 sq ft of storage area, five retail units totalling 13,000 sq ft and 150 car parking spaces.
It is the 11th property acquired in Tishman Speyer’s European Strategic Office Fund, a core fund that has in excess of €1.4bn (£0.948bn) of assets in London, Paris, Milan, Hamburg, Munich, and now Brussels.
Michael Spies, head of Europe for Tishman Speyer, said: “We are very pleased to be entering the Brussels market, clearly a leading political, cultural and commercial centre.
“We see this as an opportunity to bring our experience to enhance value in the property, which will sit very nicely in our European Core Fund.”
In Europe, Tishman Speyer has been active since 1988 and has a current portfolio valued at approximately €7.2bn (£4.8bn).
References: EGi News 24/11/06
