La Française Real Estate Managers (REM), acting on behalf of a joint venture, acquired “City Garden” from Patrizia. The R+8 office building is located in the European district of Brussels, the main administrative center of the European Union, at the corner of rue Joseph II and rue de Spa. “City Garden” offers 9,054 m of offices, 297 m of archive space and 40 parking spaces. near the European Parliament, the asset is fully leased to a European institution until mid-July 2024.
Peter Balfour, Head of Real Estate for La Franaise Real Estate Managers in the UK, said: “We are delighted to acquire a building in Brussels which complements the joint venture’s existing portfolio which includes an asset in Essen, Germany. The building, which offers good prospects in terms of asset management, benefits from a strategic location in the heart of the European district.”