Banimmo SA

Business and Financial Review • Mar 28, 2013

PRESS RELEASE

Regulated information 28 March 2013 : 7.45 AM

Banimmo completes the sale of an office building in Kontich (Antwerp)

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Banimmo (NYSE Euronext BANI) has sold to a private investor an office building in Kontich (Antwerp) for a net sales price of around € 9 million

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On March 27, 2013, Banimmo has signed with a private investor the notarial deed for the sale of the long lease and the bare ownership of the office building located at Prins Boudewijnlaan 5 in Kontich (Antwerp). This building is very well located between Antwerp and Brussels, it has a total surface of approximately 6,800 sqm and offers more than 200 parking spots.

The signature of the sale agreement (compromis) had already been announced in the publication of our annual results on February 22, 2013.

As a reminder, Banimmo had acquired this office building at the end of 2007, within the framework of a "sale and lease back" operation with the company Agfa Gevaert. The latter occupied the building for a period of 2 years, after which important renovation works were realized. The renovation concerned the technical installations of the building (HVAC, elevators, etc.) and improvements of the tenants' comfort and the energy-level of the building. By doing so, the latter has been reduced to a level of E 104.

Upon completion of those works early 2010, a first-quality tenant signed a lease for the entire 2nd floor, and other tenants quickly followed. Early 2012, two new leases were signed allowing to improve the occupancy level up to nearly 90%. On December 31, 2012, the average lease maturity amounted to 7.3 years.

Both the excellent location as the quality of the renovation project and the tenants constituted the major assets that enabled Banimmo to sell this building. The net sales price of around €9 million corresponds to a capitalization yield of 7.75% (based on the rents on existing rental contracts). This high level is however the reflection of a real estate investment market that is evolving at two different speeds; more difficult for buildings located in decentralized areas and not offering very long lease maturities than for new buildings rented for very long periods. Banimmo will account a non significant loss on this disposal. This sale however allows to free up resources that can be reinvested in new projects at market conditions that are considered

Jones Lang LaSalle acted as advisor in this transaction.

interesting and that will allow to create margins in the future.

Contact

Didrik van Caloen NV Banimmo SA Tel. +32 2 710 53 11 Email. didrik.vancaloen@banimmo.be

Christian Terlinden NV Banimmo SA Tel. +32 2 710 53 11 Email. christian.terlinden@banimmo.be

About Banimmo

Banimmo, a real estate company for repositioning and redevelopment, acquires buildings that have a high potential for redevelopment in order to re-sell them after transformation. The company is also specialized in the development of built to suit buildings meeting the highest sustainability and energy-efficiency norms. The company, which is active in Belgium, in France and in Luxembourg in the office, retail and semi-industrial sectors, as well as in conference and exhibition centres, is established in Brussels. Its subsidiary, Banimmo France, covers the French market from its headquarters in Paris.

The company has thirty employees. Until now, the Banimmo group has invested in around 24 real estate properties representing a total value of more than € 414 million. Belgium constitutes the predominant market, with 61% of the portfolio in terms of market value. France represents 39% of Banimmo's portfolio. The portfolio is continually evolving thanks to the ongoing repositioning and to the high rotation of the assets. Banimmo is listed on Euronext Brussels. Currently the company is held by the SIIC Affine (49.51%) and the management (24.9%) that have signed a shareholder agreement. The remainder, that is 25.59%, is in the hands of the public.