Acquisition by Qrf of the 'Korenmarkt' retail complex
PROPERTY MANAGEMENT
The Belgian REIT Qrf has acquired from Redevco an impressive 11.500 sqm retail complex (+ 500 sqm of housing units) in Ghent central location the Korenmarkt. It currently houses a diversified mix of tenants including Hema, C&A, Basic Fit, Casa, Ici Paris XL.
Qrf has acquired 100% of the shares in Arioso Investments Belgium NV, owner of the property, based on a gross property value of 21 MEUR. The current contractual rent amounts to 1.36 MEUR. Redevco exclusively appointed Cushman & Wakefield capital markets team to organize and structure the sale of this company.
According to Qrf, "The acquisition of this unique AAA asset represents an important step in the qualitative expansion of its diversified commercial real estate portfolio. The building being certified ‘BREEAM very good’; it aligns with Qrf's objective to increase the sustainablity of its real estate portfolio, both through acquisition and optimising the existing assets".