'The Crown Center' on its way to be converted by Eaglestone

The Eaglestone group has made a major acquisition in Brussels Pentagon. Known as ‘The Crown Center', the building offers 8,500 m2 of office spaces shared between 2 buildings. It has been purchased from HIH Invest. Warburg-HIH Invest Real Estate GmbH (HIH Invest) acquired this property in 2011 on behalf of a closed-end real estate fund.

The sole tenant is the Belgian federal buildings agency. At the end of the current tenancy, Eaglestone is scheduling a modernisation and, in line with its now traditional strategy, it will then convert the buildings with a mixed-use of offices and housings with premium architectural quality. The total investment, including all the construction work, will amount to approximately 50 million EUR. For the deal, JLL Belgium advised the seller, and UrbanLaw provided legal advice to Eaglestone.

The building benefits from two addresses, Rue Royale 138 and Rue de Ligne, the building is located in the heart of Brussels' historical district, close to the Congress Column and the large, rapidly transforming former State Administrative Centre.

HIH Invest is one of the leading investment management company for real estate in Germany and elsewhere in Europe. Around 260 institutional clients entrust their investments to the company which maintains a presence in 10 different locations across Europe.