CBRE Investment Management, on behalf of a fund it sponsors, has sold Aarttselaar Business Park in Antwerp, Belgium, for an undisclosed amount.
The light industrial asset was acquired by the real estate department of the family office investor, Baltisse.
Following the successful execution of the business plan, recent leasing successes and the high investor demand for industrial assets, the timing was right to sell this asset.”
The property comprises a light industrial, 36,288 m2 complex of warehouse and offices divided over two separate buildings. It was built in 1975 and renovated between 2007 and 2009. The asset offers 18 separate units with each unit consisting of an industrial area with some loading docks and an office part directly adjacent.
‘Following the successful execution of the business plan, recent leasing successes and the high investor demand for industrial assets, the timing was right to sell this asset,’ commented Arthur De Four, senior asset manager, CBRE Investment Management. ‘The asset has performed well for our investors and as the fund and company’s strategy and strategic requirements for logistics assets have evolved over time, we are pleased with the successful conclusion of this sale.’
‘The acquisition of Aartselaar Business Park affirms our wish to strengthen and extend our investment portfolio with well-located industrial buildings,’ commented Alex De Witte, CEO of Baltisse Real Estate. ‘The location, mix of strong tenants and size and shape of the land (7ha) respond to the criteria we consider essential to be successfully active in the sector on a short or long-term perspective.’
CBRE Global Investments were advised by Linklaters. Baltisse Real Estate was advised by CBRE and Lydian.
