The property serves as the Coca-Cola’s Belgian headquarters, housing its marketing and research and development operations
by Kudakwashe MuzoriwaInvestcorp’s European real estate business has acquired ‘The Bridge’, a single let office and research and development, from a subsidiary of Coca-Cola for EUR 88 million through a sale and 10-year leaseback transaction.
The acquisition represents Investcorp’s first sale and leaseback real estate transaction in Europe and upon completion of the transaction, the property will be 100 per cent occupied by Coca-Cola and several of its existing sub-tenants.
Investcorp stated that the property serves as the Coca-Cola’s Belgian headquarters—housing its marketing and research and development operations.
Tarek AlMahjoub, the Managing Director of Investcorp in Dubai and Oman, said, “We are excited to enter the Belgian market through this acquisition as we continue to expand our European real estate platform in the Benelux region, which we believe is poised to benefit from solid economic and underlying property fundamentals.”
The property serves as the Coca-Cola’s Belgian headquarters, housing its marketing and research and development operations.
The deal follows Investcorp’s recent acquisitions of a multi-let office complex in Germany for EUR 73 million and the acquisition of a Grade A office property in the Netherlands for EUR 50 million.
MOST READ
BUSINESS
UAE firms launch Covid-19 economic aid packagesBUSINESS
Saudi Arabia plans to boost oil export to 10...BUSINESS
Aldar to invest AED 2 million in Abu Dhabi...BUSINESS
Saudi Aramco posts a 21 per cent decrease in...BUSINESS
Oil drops 31 per cent as price war erupts...BUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
NMC Health hires Moelis for debt restructuringBUSINESS
Saudi Aramco prepares for international listingBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Egypt plans to resume IPOs of parastatalsBUSINESS
SHUAA Capital reports a net profit of AED 45...BUSINESS
HSBC considering exiting from TurkeyBUSINESS
Dubai's DP World buys 44 per cent stake in...
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
