Union Bancaire Privée, UBP SA (UBP) has acquired two properties totaling a surface area of 70,000 square meters (753,474 square feet) in Belgium through a share purchase for its European governmental real estate strategy. The two buildings, rented by Belgium’s ministry of foreign affairs, are located in the center of Brussels.
This is UBP’s second such transaction — following its forward funding purchase in December 2021 of the 30,000 square meters (tk square feet) HAMØ complex in Saint-Denis in which the French railway company’s (SNCF) headquarters are to be housed — and contributes to the expansion of the Bank’s governmental real estate investment offering. Furthermore, it demonstrates UBP’s willingness to focus on acquiring centrally located core assets that offer long-term leases, allowing investors to secure future rent indexation and thereby protect themselves from inflation.
“Governmental real estate offers many advantages for institutional
