London-based The Valesco Group, backed by Meritz Securities, one of the largest South Korean institutional investors, has acquired the Finance Tower, a skyscraper located in Brussels’ CBD, from Breevast and ZBG for €1.2 billion ($1.3 billion) in an off-market transaction.
The landmark purchase represents the largest single-asset acquisition in continental Europe in recent years, behind the sale of Coeur Défense in Paris, and the second-largest single-asset acquisition in continental Europe ever.
Valesco secured a consortium of top-tier lenders comprising Allianz, LGIM, SMBC and Bayern LB to provide a €720 million ($798 million) senior loan facility. Valesco has partnered with a number of the lenders on previous deals, and so this transaction also represents a continuation of those relationships.
The 142-meter (465-foot) tall Finance Tower is an iconic freehold grade A building and the largest commercial office premises in Belgium, providing 185,754 square
