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Record yield obtained by Ghelamco for Silver Tower sale

The sale of the Silver Tower to German fund Deka Immobilien has now been confirmed and signed, for a sum of around 200 million Euros. By the end of the year, this 40,000 m² tower located on the Place Saint Lazare close to the North station, will accommodate some 2,000 employees of the administrative services of the Brussels Region (SPRB). In view of the long term lease of a minimum of 18 years negotiated with the Region at a face rent close to 150 Euros/m²/year, the yield for Deka Immobilien will be 3.25%. This is a record level not before seen in Brussels and which has been made possible by the identity of the occupant and the length of the lease.

According to Paul Gheysens, CEO of Ghelamco, major international investment funds are still on the lookout for new and well let real estate assets.
Tim Harrup
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