CBRE GI acquires acquires landmark Belgium office building
Transactions - JULY 18, 2019

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CBRE GI acquires acquires landmark Belgium office building

by Kali Persall

CBRE Global Investors and the international acquisition platform of the Cicerone Fund — Cicerone RE Holding BV — managed by Fabrica SGR, have acquired the Mondrian building, a landmark office in Brussels, Belgium.

The asset has been acquired from Union Investment for €131.5 million ($147.5 million).

The 20,600-square-meter (221,736-square-foot) fully-let office is located in the Leopold district, a prime sought-after location for offices in Brussels.

“This is a fantastic asset to add to our client’s portfolio. With the combination of a modern and contemporary design, it stands out in the Brussels office market,” said Piet van Poppel, country manager of Belgium, CBRE Global Investors. “It is located in a district that has attractive market fundamentals with exceptionally low vacancy rates for grade-A buildings. In addition to this, it offers our clients safe and stable long-term returns with a tenant who still has 13 years left of their tenancy.”

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