COFINIMMO On 18.11.2015, Cofinimmo sold 100 % of the shares of the company Livingstone II, owner of the Livingstone II building, located in the heart of the European district in Brussels. The shares were acquired by the Aberdeen European Balanced Property Fund, managed by Aberdeen Asset Management PLC, for 60.0 million EUR. Taking into account the other assets and liabilities of the company, the building alone was valued at 63.9 million EUR in this transaction, above the investment value of the asset as determined by the independent real estate expert at 31.12.2014. The contractual rent on this value represents a gross yield of 4.28 %.
In 2014, the company Livingstone II completed the full renovation of the building, which offers an above-ground surface area of 16,000m² over six floors. In August 2014, the entire building was let for a 15-year term to the European Commission, which uses the premises for its new training centre.
Cofinimmo thereby successfully completes the repositioning of the entire Livingstone site, acquired in 2002 and vacated by Belfius Insurance at the end of 2011. It optimized its use and environmental integration by giving it a mixed allocation.
Jean-Edouard Carbonnelle, Chief Executive Officer: 'The sale of the shares of the company Livingstone II and the repositioning of the entire site perfectly illustrate our strategy in the office segment, which consists in rotating assets, on the one hand, and in redeveloping our buildings, on the other hand, in order to better respond to the space-planning needs of each district.'
Head of External Communication and Investor Relations Manager
Investor Relations Tel.: +32 2 373 94 21
Tel.: +32 2 373 60 36 egrauls@cofinimmo.be vkibieta@cofinimmo.be
About Cofinimmo:
Founded in 1983, Cofinimmo is today the foremost listed Belgian real estate company specialising in rental property and an important player in the European market.
The company owns a diversified property portfolio spread over Belgium, France, the Netherlands and Germany, worth over 3.3 billion EUR, representing a total surface area of 1,800,000m². Riding on demographic trends, its main investment segments are healthcare properties (44 %), offices (39 %) and distribution networks (16 %). As an independent company that consistently applies the highest corporate governance and sustainability standards, Cofinimmo services its tenants and manages its properties through its team of over 110 people, operating from Brussels.
Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the fiscal REIT regime in Belgium (RREC), in France (SIIC) and in the Netherlands (FBI). Its activities are controlled by the Financial Services and Markets Authority, the Belgian regulator.
At 30.09.2015, its total market capitalisation stands at 2.0 billion EUR. The company pursues investment policies which seek to offer a high dividend yield and capital protection over the long term, targeting both institutional and private investors.
www.cofinimmo.com
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