<
You are here : HOME > NEWS >

New acquisition by Union Investment



Union Investment has announced that it has acquired the Diamond office building in Ghent, through the property company Global Life Tree NV. The seller is a joint venture between Flemish developers Global Estate Group and Life Tree Group. he acquisition has been made on behalf of open-ended special real estate fund UII EuropeanM, which is targeted at institutional investors. Wolfgang Kessler, a member of the management team at Union Investment Institutional Property, comments:“Ghent is the third-largest city in Belgium and has a strong economy. Due to limited availability of office space, tenant demand for modern, centrally located office space is high”.

Completed at the end of 2019, the office building is free-standing and is located above a public underground car park with some 160 parking spaces. The 8-storey property offers total rental space of around 16,000m². It has seven office floors and a spacious lobby on the ground floor, featuring a restaurant open to the public. The building is fully let to Dutch financial services provider ING and railway operator SNCB. The development attracted BREEAM Very Good pre-certification.

Prior to this acquisition, German-based Union Investment had three properties in Belgium with an estimated value of € 394 million.
Tim Harrup
09-09-2020
News in short
Anderlecht scheme begins | 18/9
New shareholder for Eaglestone | 17/9
Limited success for Belgians at Mipim Awards | 16/9
Propel by Mipim tackles the future | 15/9
Adapting to the new retail scene | 14/9
Post-covid: evolution not revolution | 11/9
New SME centre for citydev in Haren | 10/9
New acquisition by Union Investment | 9/9
Régie des Bâtiments - a vast scope | 8/9
High ambitions for Jumbo | 7/9
Paris Real Estate Week gears up for start | 6/9
Atenor remains diversified and profitable | 4/9
Emerging mobility with self-driving vehicles will impact real estate | 2/9
Investors find safe haven in senior homes | 1/9
CBRE’s staggering new workspace design for their new offices | 1/9