The buildings are located at avenue Livingstone 6 (270,000 sf); rue de la Banque 7 (236,000 sf); rue du Meiboom 16 (37,500 sf); boulevard Pacheco 34 (75,000 sf) and rue du Moulin à Papier 55 (37,500 sf). Cofinimmo plans a new share issue to raise about half of the cost of the acquisition.
Cushman & Wakefield Healey & Baker represented Dexia. Office Investment Partner Christian Karkan said: "Belgium has witnessed a trend towards an increasing number of sale & leasebacks over the past few years as firms wake up to the advantages of concentrating on their core activities. Through a sale & leaseback operation, these firms increase liquidity enabling them to invest more money in core areas--whether personnel; research or new technology--which in turn brings them higher returns."
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