FFF Fund I SCSp SICAV-RAIF, the Luxembourg based alternative investment fund acquired Lothian Development III, owner of Plaine 11, a 9,149 m² office building in Brussels. The Vendor is Fidentia BeLux Investments (FBLI). FBLI is a value add sustainable real estate investment fund managed by Fidentia Real Estate Investments.
Located in the vibrant university district of Brussels across the VUB University Campus, the asset is at 3 minutes-walk from one of city’s main railway hub. Originally developed in the early 2000s, the asset underwent a full sustainable refurbishment program including energy efficient installations, floor plates refurbishments and introduction of new services to occupiers that will lead to a BREEAM In Use Very Good certification.
Sergey Volchenkov, Real Estate Investment Director at FFF Group, said: “Brussels is a strategically important location for our Fund. This acquisition enables us to achieve superior returns in a sustainable office property with a good mix of in-place tenants in an upcoming environment.”
Fidentia Real Estate Investment will remain the asset manager of this investment for FFF Fund I. This will be a key role to achieve best sustainable development outcomes for occupiers.
Louis de Halleux, Managing Director at Fidentia Real Estate Investments: “We are very proud of this transaction and the new partnership with FFF Group. It is a perfect example of what we are able to achieve as a Social Responsible Investor and shows our capacity to identify and swiftly turn around real assets with potential into sustainable and desirable offices.”
The transaction is an off-market deal initiated by Cushman & Wakefield, advisor of FFF Group along with Laga. Fidentia was advised by CMS.
For more information :
Allan Tait, MRICS
+32 474 42 86 90
Head of Marketing & Communication
+32 2 546 08 80