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Real Estate Finance | Dec 4, 2017

Two landmark office properties in Brussels

Acting as arranger, lender and agent, Helaba has provided a long term acquisition facility of EUR 228.6 Mio to a club of Korean and French investors represented by La Française Real Estate Partners International. The loan finances the acquisition of 60% interest of Belfius in the joint venture with AG Real Estate in the landmark office properties North Light and Pole Star located close to the North Station in Brussels.

The properties make up a high quality “green” office complex of 77,000 m² constructed in 2011 and 2014. The asset is fully leased to ENGIE on leases with unexpired terms of approximately 13 years. The buildings have a number of sustainability features, including optimized geothermal energy, geothermal heating and cooling, solar panels, and a sophisticated climate control system, which have enabled the newest tower of the complex, Pole Star, to achieve a Breeam “Very Good” rating.


 

Overview 
Investment:

North Light and Pole Star, Brussels

Customer:Club of Korean and French investors
Type of finance:Long-term finance
Volume of finance:EUR 228.6m
Role of Helaba:Arranger, Facility and Security Agent, Lender
Unit/department:International Real Estate Finance Continental Europe
Closing/funding:September 2017