KGAL Investment Management acquires sustainable office building in Brussels

KGAL Investment Management has acquired the sustainable Treesquare office building in Brussels from Nextensa, a mixed real estate investor and developer.

Treesquare, located in the best office location in Belgium, consists of approximately 6,500 square meters (70,000 square feet) of floor space distributed throughout 12 floors. When Nextensa (then Leasinvest Real Estate) acquired the building in 2004, it was fully leased to a diplomatic representation to the European Union and an international company. Between 2016 and 2018, it was demolished and rebuilt as a AAA building meeting the highest quality standards in terms of sustainability and technology. The office building is currently fully leased to 12 AAA-tenants, including Deutsche Börse, Netflix and Norton Rose.

KGAL Investment Management purchased the property for the net price of €43.7 million ($47.7 million) by way of an asset deal on behalf of its pan-European KGAL Core 4 Real Estate fund. The German group fo