Cofinimmo: Offices will sell 3 office buildings in the decentralized area of ​​Brussels

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Brussels, embargo until 24.05.2022, 17:40 CET

Cofinimmo Offices will sell three office buildings in the decentralized area of ​​Brussels

Cofinimmo Offices SA, a 100% subsidiary of Cofinimmo (Euronext Brussels: COFB), has signed three agreements under private signature relating to the sale of full ownership of three office buildings in the decentralized area of ​​Brussels.

The sale price of all three buildings amounts to approximately 52 million EUR. This amount is higher than the last fair value (at 31.03.2022) determined by the independent appraisers of Cofinimmo Offices before the conclusion of the said agreements.

The first agreement concerns the transfer of full ownership (by the first quarter of 2024) of the building located at boulevard de la Woluwe 62 in 1200 Brussels. The building has approximately 3,300 m² of offices and 57 parking spaces. It was built in 1988 and its last renovation dates from 1997. The building is 92% let.

The other two agreements relate to the sale of the buildings located avenue Herrmann-Debroux 44-46 at 1160 Brussels (by the fourth quarter of 2023) and boulevard du Souverain 36 at 1170 Brussels (by the fourth quarter of 2024). The first building has approximately 9,700 m² of offices and 167 parking spaces. The second building has approximately 8,300 m² of offices and 207 parking spaces. Both date from the 1990s and are respectively 97% and 100% let.

The disposal of the three buildings is not included in the estimate of divestments planned for 2022, as published in section 11.1 of the press release of 29.04.2022, as they will take place after 2022. It is fully in line with Cofinimmo’s strategy in the office sector.

Jean-Pierre Hanin, CEO of Cofinimmo : “ With the future disposal of these buildings, we are pursuing our strategy in the office sector. This oneconsists of improving the overall balance of the office portfolio by reducing the share of the portfolio in the decentralized area of ​​Brussels. »

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COMMUNICATED

PRESS

Brussels, embargo until 24.05.2022, 17:40 CET

About Cofinimmo:

For almost 40 years, Cofinimmo has been investing, developing and managing rental properties. The company has assets located in Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland, Italy and the United Kingdom, worth approximately EUR 5.9 billion. Attentive to societal developments, Cofinimmo’s mission is to provide high quality care, living and working spaces for its tenant partners for the direct benefit of the occupants. ‘Caring, Living and Working – Together in Real Estate’ is the expression of this mission. On the strength of its expertise, Cofinimmo has built a benchmark healthcare real estate portfolio of approximately EUR 4.0 billion in Europe.

An independent company applying the highest standards in terms of corporate governance and sustainability, Cofinimmo offers services to its tenants and manages its assets through a team of around 150 people in Brussels, Paris, Breda, Frankfurt and Madrid.

Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from REIT status in Belgium (SIR), France (SIIC) and the Netherlands (FBI). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator.

On 29.04.2022, the total market capitalization of Cofinimmo amounted to approximately 4.1 billion EUR. The company applies investment policies that seek to provide its shareholders with a long-term investment that is socially responsible, low risk and generates a flow of recurring, predictable and growing dividends.

www.cofinimmo.com

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