Amundi Real Estate, on behalf of its funds, has acquired the Marnix office and retail building in the Leopold business district in Brussels from a group of international investors.
The office and retail complex, with a total rental area of around 23,000 m², comprises a seven-storey and a nine-storey building that have undergone two renovations in 2007/08 and in 2012-14. Its anchor tenants include Deutsche Bank, the World Bank and the consulting firm ICF. The property is virtually fully let with an excellent occupancy rate of 98%.
The Marnix is ideally situated in Brussels’ Leopold business district close to the European Parliament. It offers direct connections to the metro and railway networks.
“The acquisition of the Marnix marks our debut transaction in Belgium and is perfectly in line with our strategy to extend its exposure in key European countries”, commented Jean-Marc Coly, Managing Director of Amundi Real Estate.
Amundi Real Estate was advised in this off-market transaction by Cushman & Wakefield for commercial due diligence, Loyens & Loeff for legal and tax due diligence, and jointly with Gide Loyrette Nouel for structuring, Axxio for technical due diligence and PricewaterhouseCoopers for financial due diligence. The lead advisor on this acquisition was Hannover Leasing, part of the CORESTATE Capital Group.
Amundi Real Estate specialises in the development, structuring and management of real estate funds for retail investors, private banks, distributors, institutional investors, large companies and real estate professionals. Leader in France in terms of inflows and capitalisation in French open real estate funds (IEIF - September 2019), assets under management total €33.2 billion*.
* Amundi Real Estate data as at 30 June 2019
Amundi, the leading European asset manager, ranking among the top 10 global players, offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.9 trillion of assets.
With its six international investment hubs, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 5,400 employees in 35 countries.
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