Investcorp reaches €1.2 billion of real estate acquired in Europe with the acquisition of an SPV owning two office buildings in Brussels

7 Jul 2022

Investcorp, a leading global alternative investment firm, today announced that its European Real Estate business has completed the acquisition of Luso Invest SA, the owner of Avenue de la Porte de Hal 27, an office occupied by the Flemish government, and Avenue Herrmann-Debroux 2, the Belgium headquarters of Marsh SA. Investcorp acquired the company from Monument Immo Management SA.

Flemish Government Office

Avenue de la Porte de Hal 27 is fully let under a long-term lease to Opgroeien, an agency of the Flemish government that is responsible for youth welfare, children and families. The property was purpose built for the Flemish Government, who originally occupied it as an owner-occupier. It comprises approximately 8,600 sq. m. of office and ancillary accommodation and 38 parking spaces. The property is located in the heart of Brussels, adjacent to the inner ring road (R20) and a 5-minute walk from Gare du Midi, the busiest railway station in Belgium and is also adjacent to the Porte de Hal metro stop.

Marsh’s Belgium Headquarters

Avenue Herrmann-Debroux 2 is fully let to Marsh, a global leader in insurance broking and risk management, under a long-term lease and acts as Marsh’s Belgium headquarters. The property comprises approximately 6,900 sq. m. of office and ancillary accommodation and 70 parking spaces. It was built in 2015 and was recently upgraded by the tenant. The property is located to the southeast of the city centre, close to key transport links, including Brussels’ outer ring road (R22) and the Herrmann-Debroux metro stop.

Investcorp’s Growing European Real Estate Portfolio

The acquisition of these two Brussels properties follows the acquisition of the Rome headquarters of the International Fund for Agricultural Development (IFAD), a United Nations agency, earlier this year.
Investcorp’s European Real Estate business has to date acquired €1.2 billion of real estate assets across the U.K. and Europe. Investcorp’s European portfolio consists of 11 office properties across Germany, the Netherlands, Belgium, Italy and the U.K., as well as 35 industrial assets in the U.K.

Neil Hasson, Managing Director – Head of Investcorp European Real Estate, said: “We continue to see attractive investment opportunities across the U.K. and European markets. These two prime office properties align with our strategy to focus on high-quality, income-producing assets in markets with attractive demand and supply characteristics. We have now acquired more than €1 billion of real estate assets in Europe and look forward to continuing to grow our portfolio in the region.”

Tom Martin, Vice President, Investcorp European Real Estate, added: “We are excited to add these two assets to our portfolio. The assets are well-located and connected to transport nodes, with modern facilities and resilient environmental design, and offer stable, long-term income and potential for capital uplift. These acquisitions demonstrate our ability to use our network and long-term relationships to source attractive opportunities for our investors.”