Valesco Group Acquires Office In Saint-Josse, Brussels For $1.3B

A office property located at 50 Boulevard du Jardin Botanique in Saint-Josse, Brussels has been sold in a closed transaction. The transaction took place on January 20, 2020, and the property was acquired by Valesco Group. The property spans across 1,999,439 square feet and was sold for a price of $1,331,142,000, resulting in a price per square foot of $665. The property offers an attractive capitalization rate of 4.85%.

Summary of transation details

• Property Type: Office
• Transaction Amount: $1,331,142,000
• Square Feet: 1,999,439
• Price Per Square Foot: $665
• Capitalization Rate: 4.85%

The buyer in this transaction was Shiraz Jiwa, representing Valesco Group. On the other hand, the property was sold by Henk Brouwer, representing Breevast & ZBG. The deal was facilitated by several brokers including Cushman & Wakefield, Ashurst, PwC, Arcadis, CBRE, Loyens Loeff & Stibbe, highlighting the collaborative effort involved in the transaction.