NEXTENSA SA On 30/06/2016, and according to planning, the 2nd notarial deed with regard to the future sale (1) of the delivered office building Royal20, located boulevard Royal in the center of the city of Luxembourg in the Grand Duchy of Luxembourg, was executed, for an amount of € 62.5 million (ex-VAT) (2) to a private investor. The building is entirely let following a rental contract concluded end-2014 (1).
The successful realisation of the office building Royal 20 upon schedule is a perfect example of the audacious and calculated entrepreneurship of Leasinvest Immo Lux to turn the old Hotel Rix into a landmark on the Boulevard Royal. The magnetism of this diamond-shaped new office building designed by the renowned French architectural firm Christian de Portzamparc will become a strong architectural reference for the City of Luxembourg.
Leasinvest Real Estate and its 100% subsidiary Leasinvest Immo Lux wish to develop high-quality and sustainable buildings with which tenants can identify and has the desire to thus differentiate itself from other office buildings on offer. With regard to the community and the real estate market, we wish to confirm our role as a creative real estate investor.
Jean-Louis Appelmans, CEO: "Leasinvest is proud for having realized the office building Royal20, because it is one of our most beautiful realizations and the best example of the way in which Leasinvest Real Estate creates value, not only for its shareholders, but also for the environment the company operates in."
The debt ratio of Leasinvest Real Estate will, due to this transaction and according to our estimates, decrease below 57% (taking into account the dividend payment (in May 2016) over the financial year 2015 for a total amount of € 23 million).
For more information, contact:
Leasinvest Real Estate
Jean-Louis Appelmans
CEO
E: jeanlouis.appelmans@leasinvest.be
Leasinvest Real Estate Comm.VA
Regulated real estate company (B-REIT) Leasinvest Real Estate SCA invests in high quality and well-located retail buildings, offices and logistics buildings in the Grand Duchy of Luxembourg, in Belgium and in Switzerland.
On 31/03/2016 the total fair value of the directly held real estate portfolio of Leasinvest amounts to over € 871 million spread across the Grand Duchy of Luxembourg (54%), Belgium (41%) and Switzerland (5%). Moreover, Leasinvest is the largest real estate investor in Luxembourg.
The total portfolio is invested in retail (42.1%), offices (42.3%) and logistics (15.6%).
The RREC is listed on Euronext Brussels and has a market capitalization of nearly € 550 million (value 5 July 2016).
- Referral with regard to the future sale to the press releases of 20/04/2015, 18/02/2016 and 17/05/2016.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Leasinvest Real Estate Comm. VA via Globenewswire
