Cording acquires Brussels office asset

European investment and asset manager Cording Real Estate Group has acquired an office building in Brussels for its Benelux commercial real estate fund.

Financial details were not disclosed.

The property was built in 1987 and is situated at Rue Montoyer 40 in Brussels' European District, close to the European Parliament.

It comprises some 4,000 m2 of space and has 56 parking spaces. The asset is completely let and has a diversified tenant mix, according to Cording.

'This is our third acquisition in Brussels in less than a year. Due to its prime location, multi-tenancy and well diversified cashflow, this asset fits very well within our fund,' said René de Heus, head of investment Benelux.

'As we want to further increase the funds exposure towards Brussels, we will keep continuing sourcing new core and core+ office opportunities in Brussels,' de Heus added.

Cording's open-ended special fund, the Benelux Commercial Real Estate Fund, was launched in December 2016 to invest in office and retail property in the Netherlands, Belgium and Luxembourg with a gross target volume of €400 mln.

Cording was advised by Loyens & Loeff on legal matters, SGS Search on technical matters and JLL on commercial matters.

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