Equity Estate divests an office building in Gent, Belgium

12-4, 2016

In Q3 2015 Equity Estate successfully divested an office building of approx. 3,800 sqm in the city centre of Gent to the Catholic University of Leuven. After the former tenant City of Gent vacated the office building in February 2015, Equity Estate reviewed the possibilities to lease out or divest the office building from a strategic perspective. When the Catholic University of Leuven turned out to be interested a divestment of the property made sense for the investors, reducing the fund’s exposure in the Belgium office market. In order to complete the sale of the office building, Equity Estate divided the complex into three apartment rights and sold one of them. The remaining apartment rights are leased out to United Brands retail store and the Proximus telecom and data centre. On this transaction, Baker McKenzie acted as a legal advisor on behalf of Equity Estate.