With the acquisition of the Tervueren II office building in Brussels' Leopold District - Belgium’s capital and a major European metropolis – Deka Immobilien expands the portfolio of its open-ended Deka-ImmobilienMetropolen fund. This marks the fund's first investment in Belgium. The buyer is the Belgian branch of Deka Immobilien Investment. The seller of the property was AG Insurance, and the purchase price remains undisclosed.
Built in 1976, the property formerly served as the residence of the Canadian Embassy. In 2019, it underwent extensive refurbishment and was expanded by two additional floors. Today, it offers approximately 7,300 sqm of leasable space across eight floors, including premium office facilities, and 74 underground parking spaces. Fully and long-term leased to the prominent law firm Loyens & Loeff, the building boasts a BREEAM certification of "Very Good" and a primary energy consumption of just 98.25 kWh/sqm, making it one of the most energy-efficient buildings in the BeLux region.
With the acquisition of Tervueren II, Deka Immobilien secures a premium property in a prestigious location while further diversifying its regional fund portfolio. This transaction underscores Deka Immobilien’s commitment to sustainable and strategic investments in Europe’s most attractive markets.
The Leopold District is traditionally Brussels’ most significant office area, home to numerous European institutions, international organizations, and embassies. Exceptional infrastructure, excellent public transportation connections, and direct rail access to the airport ensure outstanding accessibility. Additionally, the area features impressive architecture, such as that along Avenue de Tervueren, and a vibrant environment with restaurants, bars, and leisure opportunities. A Highlight is the spacious rooftop terrace spanning 744 sqm offers breathtaking panoramic views of Parc du Cinquantenaire and the Brussels skyline.
Deka Immobilien was represented by A&O Shearman (legal advisors) and Arcadis (technical due diligence). The seller was advised by CBRE.