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Alides further strengthens its position in the European district with the purchase of Montoyer 34 

31/03/2021

Alides Offices

Alides further strengthens its position in the European district with the purchase of Montoyer 34 

Third building in the Brussels European district

Ghent/Brussels – 31 March 2021 – Alides – ‘full-service’ investor, developer, manager and owner of a diversified property portfolio – becomes the new owner of the companies that own the ‘Science-Montoyer’ office building, located in the heart of the European district, by means of a share transaction. The office building with a (gross) area of 12,868 m² and 276 parking spaces is currently fully let to the European Commission. The companies were acquired from the German fund Hesse Newman Real Estate Nr. 8, managed by investment and asset manager QUEST Funds. With this second purchase in the European district in a short time, Alides continues its successful expansion in Brussels.

Unique location with potential added value, fully in line with the Alides strategy

The office building, a 1993 development by Atenor, was acquired by Cofinimmo and transferred to the current owners in 2011. The building has a solid structure and will be completely renovated in consultation with all stakeholders and with special attention to sustainability and innovation. The AAA location at the corner of rue Montoyer and rue de la Loi in the immediate vicinity of the European institutions guarantees easy accessibility, both by car and public transport. 

‘Within the framework of the European Green Deal, the choice of sustainable materials and techniques, as well as attention to ecological building processes, will be a crucial part of this redevelopment. A BREEAM Excellent label in combination with a state-of-the-art design are therefore the most important guidelines given to our construction partners,’ says Rikkert Leeman, CEO of Alides.

Ambitions in Brussels 

The acquisition fits perfectly within the ambitious growth strategy of the family group company, which focuses on acquiring strategic top locations with long-term potential, both in the city centres in Belgium and in Poland and Luxembourg. With this new acquisition in Brussels – Alides also acquired the company that owns the EFTA building on rue Joseph II in late 2020 – and the completion of the Copernicus project on rue de la Loi (given in usufruct to the European Commission for 20 years and thus one of the most important real estate deals in Brussels in 2021), the company is strengthening its position in the European district.

‘This purchase is also fully in line with our strategy and hybrid profile as an investor-developer. With this acquisition, following the acquisition of the Waterside office complex in Gdansk, Poland, we are taking another important step in the further expansion of our high-quality portfolio of office buildings at prime locations. On the one hand, it ensures a stable income stream and sustainable returns and, on the other hand, it strengthens our stated ambitions for future development opportunities,’ says Rikkert Leeman.
 
Alides purchased the companies from the German fund Hesse Newman Real Estate Nr. 8, managed by investment and asset manager QUEST Funds, with guidance from Dutch real estate advisory and development firm NEW NRG Real Estate and Clifford Chance. Alides was assisted by Matthias Maselis, partner at Stibbe, and by Deloitte. The transaction value has not been released.
 

 

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