Leasinvest sells Zaventem semi-industrial complex to the Exeter Property Group.

LOGISTICS & INDUSTRIAL
Tim Harrup

The sale has taken place of the semi-industrial part of the Brixton Business Park in Zaventem, to an affiliate of the Exeter Property Group. The seller was Leasinvest Real Estate, which says that this divestment is fully in line with its strategy, which is aimed at selling non-strategic properties and focusing on new sustainable projects. The current favorable market situation enabled a successful sale of this type of property. Broker. Speaking of the impact on its finances, Leasinvest goes on to say that the revenues will not only enable debt levels to be brought down to the desired level of under 55%, but it will also enable the company to make an early repayment on part of its derivative products portfolio, and thus decrease average finance costs. Michel Van Geyte, CEO of Leasinvest Real Estate states: “It is with a degree of nostalgia that we are letting go of this site which has been part of our portfolio since it was created in 1999. Nevertheless, this is a necessary step in making our real estate portfolio more sustainable”. Knight Frank acted in this transaction.

The Brixton Business Park comprises 5 semi-industrial buildings with a total area of 18,788 m².