Immobel and BREEVAST announce the sale of 100% of their interest in RAC 2 S.A. to REAL I.S. SMART.
On Tuesday 6 December 2016, Immobel and BREEVAST, shareholders of RAC 2 S.A. (40%/60%) – a company active in the development, construction and rental of the "Belair" building situated on the site of the former State Administrative District – concluded this Tuesday 6th of December, the sale of their interest to REAL I.S. SMART, an international investor based in Germany. The transaction is concluded on the basis of a valuation of the RAC 2’s assets at an amount of ca. 59 MEUR.
A strategic and ambitious project
To recap, in July 2016, RAC 2 S.A. had already signed a fixed 18-year lease with the Brussels-Capital Region for the rental of the entire "Belair" building, in other words 9,500 m² of offices, 35 parking spaces and 3,700 m² of archives. A strategic building by virtue of its vocation since, from 2018, it will be home to the new general "Security" district, which will allow the central consolidation of infrastructures such as the newly created "BPS" (Brussels Prevention and Security) and other associated regional services. A significant and promising transaction.
"We are proud to be able to finalise the sale of such a project on the site of the former State Administrative District. This transaction represents an important new step in its redevelopment and marks the end of an excellent collaboration with Immobel", says Henk Brouwer, CEO of BREEVAST.
The final phase of the project is currently the subject of a permit application and will consist mainly of dwellings, a school, a crèche and some shops. An ideal complement to the existing buildings which will make this complex a model urban mixed project, designed by the architects Jaspers & Eyers and Archi2000 and involving more than 140,000 m².
"This sale will also have a positive impact on Immobel's results for 2016, a year which has already been marked historically by the merger with Allfin", declares Alexander Hodac, CEO of Immobel.
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