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HIB enters apart-hotel sector





Home Invest Belgium (HIB) has signed an agreement for the takeover of the company BE Real Estate S.A., owner of four apart-hotel buildings in Brussels. This will bring a total of 185 new units to the portfolio of HIB. The portfolio will continue to be operated under the B Aparthotels brand by the company Beapart S.A., the beneficiary of a leasehold contract for a duration of 27 years.
The buildings will be refurbished by the operator in the course of the first year of the lease, with no material impact on their operations. The agreement, which is subject to conditions, should be finalized before the end of the year.
“Entering into the “apart-hotel” sector allows us to acquire high-quality real estate positions. By definition, hotel locations are often excellent and very central”, comments Nicolas Vincent, Chief Investment Officer of the RREC.
Sophie Lambrighs, CEO, adds: “The apart-hotel sector is a natural extension of the classic residential sector. The buildings essentially present similar physical characteristics compared to classic residential buildings. The apartments are very often composed of a room, a kitchen, a bathroom and a living/TV room. In the long-term, they allow (by means of changing the permit) a resale by the unit which perfectly fits within the company’s strategy”.
Tim Harrup
03-07-2018


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