Business park EBBC in the Grand Duchy of Luxembourg
Leasinvest Real Estatehas acquired today 2 additional buildings in the EBBC Business park nearby Luxembourg's airport, via its 100% subsidiary Leasinvest Immo Lux. This acquisition represents an investment of € 64.1 million, with an initial yield of 6.25%. Both buildings are enitrely leased and generate an annual rental income of approximately € 4 million.
European Bank & Business Center (EBBC) consists of a total of 6 office buildings with a global surface area of +/- 26,000 m² and benefits from a strategic location in the Luxembourg Airport district, at walking distance of Luxembourg airport. Given the importance of this district, it is also included in the tram expansion zone, that will make the park easily accessible by public transportation, both from the city centre and the business district "Kirchberg".
| Michel Van Geyte CEO: "After this acquisition, Leasinvest is the owner of 3 of the 6 buildings in the business park, whereas the company holds 68% via the real estate certificate "Immo Lux Airport" in 2 of the 3 other buildings that are part of the EBBC site. Besides its unique geographical situation, just next to the airport, and soon accessible by tram, this investment allows the company a/o to follow up and further optimize both the technical and commercial management of this business park." |
Land reserve Austria
Yesterday, on 18 December 2018, Leasinvest Real Estate has acquired a land of circa 3,870 m² alongside the access road to the Frun Park in Asten for an amount of € 625 thousand, via its Austrian subsidiary Frun Park Asten GmbH,. This land is expected to cover +/- 1,350 m² of commercial space to be developed. The acquisition of this plot of land represents a capital gain for the retail park that is already owned by the company.
| For more information, contact Leasinvest Real Estate Michel Van Geyte CEO T: +32 3 238 98 77 E: michel.van.geyte@leasinvest.be |
| On LEASINVEST REAL ESTATE SCA Public BE-REIT (SIR/GVV) Leasinvest Real Estate SCA invests in high quality and well-located retail buildings and offices in the Grand Duchy of Luxembourg, Belgium and Austria. At present, including these transactions, the total fair value of the directly held real estate portfolio of Leasinvest amounts to € 990 million, spread across the Grand Duchy of Luxembourg (56%), Belgium (33%) and Austria (11%). Moreover, Leasinvest is one of the most important real estate investors in Luxembourg. The public BE-REIT is listed on Euronext Brussels and has a market capitalization of € 504 million (value on 18 December 2018). |
Attachment
- 2018 12 19 LRE_Acquisition EBBC_ENG_Final (https://ml-eu.globenewswire.com/Resource/Download/c9d26788-1d8b-48b7-a35d-80614c06eb4d)
