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Arts 20 changes hands



A transaction has taken place on the edge of the European and city centre districts.Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has sold its stake in W.H. Arts 20 S.A., owner of the Arts 20 office building in Brussels, Belgium to Blue Colibri Capital SARL on behalf of Blue Colibri Capital Partners Fund II. The property was part of the Warburg-HIH Invest Pan-Europa Funds Nr. 1 portfolio. Warburg-HIH Invest was supported throughout this transaction by Cording Real Estate. The parties have agreed not to disclose the purchase price.

The modern office building, located at the corner of Rue Joseph II and Avenue des Arts, has a total rental area of 7,100 m² and benefits from convenient access to the Brussels public transportation network via the Arts-Loi metro station. The property enjoys high visibility thanks to its location on this corner. The property is occupied by well-known tenants includes companies such as Siemens, Hitachi, Telefonica and Bank of China.

This is Blue Colibri Capital first acquisition in the Brussels market. Alim Vandeweyer, Investment Director at Blue Colibri Capital and responsible for the Benelux region commented: “Brussels CBD offers solid fundamentals for rental growth as vacancy rates remain low and speculative pipeline modest. We are delighted to enter the Brussels office market with the acquisition of this qualitative and strategically located asset, which offers a unique platform to demonstrate our asset management capabilities as well as a tremendous potential to create value for our investors”.

The buyer was advised by Loyens & Loeff, Drees & Sommer and Deloitte. Urban Law and JLL advised the seller.
Tim Harrup
06-10-2017


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