Allianz Real Estate has signed a sales agreement with Immobel, a Belgian real estate developer, to acquire an office building in the European quarter of Brussels for an undisclosed sum.
Estimated to be completed in Q3 2022, the building will use geothermal energy and solar panels to minimise climate impact, Allianz Real Estate said.
“The scarcity of buildings of this quality in Brussels increases the resilience of the asset which is already fully let to a strong tenant and as such will provide long-term cash flow for our investors,” Vincent Wathelet, head of Belux for the asset manager, added.