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Nextensa SA — M&A Activity 2017
May 4, 2017
3982_iss_2017-05-04_5beeb06a-7f2a-4b2f-b33f-77757ac04cc5.pdf
M&A Activity
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Press Release
Regulated information under embargo till 04/05/2017 – 5.40 PM
Leasinvest continues its growth in the Grand Duchy of Luxembourg
On 3 May 2017, Leasinvest Immo Lux SA, Luxembourg subsidiary of Leasinvest Real Estate, acquired 100% of the shares of the company Mercator Sàrl, owner of the office building located route d'Arlon, no 110 – 112 in the City of Luxembourg.
The building held comprises 8,641 m² of offices, spread across 5 floors and 104 parking spaces, and benefits from an excellent location in the capital of the Grand Duchy along the route d'Arlon, one of the main access roads to Luxembourg City.
The value of the building amounts to € 35 million, an amount in line with the fair value measured by our independent real estate expert. The gross rental yield based on total occupancy would amount to 6.75%.
The building is currently let for 42% for an annual rent of € 1.06 million.
The commercial management of this asset will be directly operated by Leasinvest Immo Lux, its mission being to increase the occupancy rate and keep it at a high level in the long term.
This investment also aims at strengthening the geographical diversification of the portfolio towards Luxembourg.
Jean Louis Appelmans, Chief Executive Officer:
"Thanks to our knowledge of the Luxembourg real estate market, a dynamic and proactive commercial management and the location of this building, we are persuaded being able to increase its current occupancy rate by the end of 2017. Leasinvest is one of the most important foreign real estate investors in Luxembourg and wishes to strengthen this position over the coming years."
For more information, contact Leasinvest Real Estate Leasinvest Real Estate JEAN-LOUIS APPELMANS MICHEL VAN GEYTE Chief Executive Officer Chief Investment Officer T: +32 3 238 98 77 T: +32 3 238 98 77 E: [email protected] E: [email protected]
On LEASINVEST REAL ESTATE SCA
Public BE-REIT (SIRP/OGVV) Leasinvest Real Estate SCA invests in high quality and well-located retail buildings and offices in the Grand Duchy of Luxembourg, in Belgium, in Switzerland and in Austria.
At present the total fair value of the directly held real estate portfolio of Leasinvest amounts to € 895 million spread across the Grand Duchy of Luxembourg (51%), Belgium (40%), Switzerland (5%) and Austria (4%).
Moreover, Leasinvest is one of the most important real estate investors in Luxembourg.
The public BE-REIT is listed on Euronext Brussels and has a market capitalization of over € 515 million (value 3 May 2017).