Cofinimmo pursues its divesting strategy with the sale of two office buildings

During the past ten days, Cofinimmo has divested two buildings located in the European district of Brussels. On May 30th, the company signed the notarial deed relating to the sale to real estate developer Alides of a 99-year leasehold right on the office building located Rue de la Loi 57. The site, which dates from 2001, offers around 10,000 m² of office space.

The proceeds, Cofinimmo reports, amount to approximately 36 million Euros. This amount is in line with the latest fair value (as at 31.03.2023), as determined by Cofinimmo Offices’ independent real estate valuer, prior to the signature of the deed.

And on June 8th Cofinimmo signed a private agreement relating to the granting of a 99-year leasehold right on the office building located Rue de la Science 41. The site dates from 1960 and offers approximately 2,900 m² of office space. Its occupancy rate on 31.03.2023 was 98%. The proceeds for this sale amount to 12 million Euros, a figure which is once again in line with the latest fair value (as at 31.03.2023).

The cumulative amount of the divestments already carried out since January 1st 2023 and those already signed and expected to be closed by the end of the financial year now amounts to approximately 172 million Euros. Of the two transactions, Jean-Pierre Hanin, CEO of Cofinimmo, says: “With these transactions, we are pursuing our ESG strategy and the overall rebalancing of our portfolio and demonstrating our ability to perform asset arbitrages.”