<
You are here : HOME > NEWS > New acquisition by Union Investment

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