Catella Real Estate AG acquires mixed-use property in Brussels for the individual mandate “AVW European Real Estate Fund”

The acquired property is located at 120 Avenue Louise / Rue de la Longue Haie in a popular residential area in the south of Brussels city center. The property has a total GLA of 4,880 m², including 3,600 m² of office space, 680 m² of retail space and around 600 m² of residential space, spread over 11 furnished apartments ranging in size from 32 m² to 75 m². The property, built in 1978 and extensively and completely renovated in 2011/2019, also includes 77 parking spaces. Since 1986, Perspective International, a showroom for contemporary furniture, is located on the ground floor of the building.

Within walking distance of the property is the high street part of the Avenue Louise and the Boulevard de Waterloo, the most prestigious shopping promenade in Brussels. Well-known designer stores, international fashion chains and a large variety of restaurants, bars and cafes, as well as various small supermarkets to cover the daily needs are found here.

Avenue Louise is one of the most important traffic arteries in Brussels, providing access to the city center from the south. The metro station "Louise" and the tram stop "Defacqz" are located on Avenue Louise, in the immediate vicinity of the property, from which Brussels city center can be reached within a few minutes.

"The residential and commercial property Avenue Louise 120 fits perfectly into the profile of the investment fund", says Fabian Pick, Portfolio Manager of the "AVW European Real Estate Fund". "In particular, we were convinced by the prestigious location in a popular residential area in the immediate vicinity of Brussels city center and the successful mix of residential and commercial space, which guarantees a long-term, stable cash flow. Following our previous investments in Augsburg, Essen, Cologne and Barcelona, the “AVW European Real Estate Fund” now becomes even more diversified with this acquisition in Brussels."

Ralph Willems, Senior Acquisition Manager at Catella IM Benelux: “The acquisition of Louise 120 is our second 2021 Brussels addition to our Belgian Portfolio. Excellenty located on the prestigious Avenue Louise and with its flexible floor plans, we have high confidence in this mixed-use asset and are ready for more Belgian investments”

Catella was advised by Stibbe, PRO group and EY in the due diligence process.

About Catella Real Estate AG

Catella Real Estate AG (CREAG), founded in January 2007 and headquartered in Munich, is engaged in the management of real estate investment funds and in providing advice on investing in real estate.

CREAG is a licensed capital management company (KVG) under German investment law (KAGB). The purpose of the company is the conception, development and management of open-ended real estate investment funds based on the expertise and outstanding market position of the Catella Group. CREAG currently manages assets of EUR 6.4 billion in 19 real estate funds (as of September 30, 2021).

About Catella Investment Management Benelux (CIMB)

Catella Investment Management Benelux (CIMB) is part of the Catella group, a leading specialist in property investments and fund management with operation in 13 European countries and approximately 550 employees, including approximately 25 employees in the Benelux. The group manages assets of approximately €11 billion (September 2021). Catella is listed on Nasdaq Stockholm in the Mid Cap segment.

CIMB is the local office that offers fund, acquisition and asset management for all Catella-managed funds with an allocation to the Benelux region. CIMB has a broad real estate portfolio with some 75% invested in residential property and the balance in commercial assets. CIMB currently has about €1.5 billion in assets under management in the Benelux and is anticipating investing some €600 million per annum in these markets over the next few years. CIMB is a member of the Catella European residential network alliance.

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