Listed Belgian property company Cofinimmo has converted its Pubstone vehicle into an institutional Belgian Sicafi structure.
Belgium’s Financial Services and Markets Authority approved the conversion of the vehicle, which holds 820 properties in Belgium.
The company has spent €10.3m on three nursing homes in Belgium. Cofinimmo bought the Saint-Charles Château des Moines, Gérigroep and Vert Buisson companies, which hold the three assets respectively. The portfolio totals 9,300 m2 and reflects a gross rental yield of 6.86%.
Cofinimmo also sold its Royale 94 office property in Brussels for €3.4m. The empty 1,900 m2 asset was sold to a group of local companies.
