Cofinimmo : continues its asset rotation strategy in the office segment
April 28, 2023 at 09:16 pm IST
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PRESS RELEASE
Brussels, 28.04.2023, 05:40 p.m. CET
Cofinimmo continues its asset rotation strategy in the office segment
Cofinimmo Offices SA/NV, a wholly-owned subsidiary of Cofinimmo (Euronext Brussels: COFB), has sold a mixed-use site located Woluwelaan 151 in 1831 Machelen, in the periphery of Brussels.
The site offers approximately 5,800 m² of office space, about 3,400 m² of warehouse space and 328 parking spaces. The building was built in 1997 and is let to a single tenant.
The sale price of these buildings amounts to approximately 10 million EUR, which is in line with the latest fair value (as at 31.03.2023), as determined by Cofinimmo's independent real estate valuers.
The divestment of the above-mentioned site is included in the divestment budget for 2023, as published in section 11.1 of the press release of 17.02.2023.
Jean-PierreHanin, CEO of Cofinimmo: "This transaction is fully in line with our overall strategy of rebalancing our portfolio and demonstrates our ability to perform asset arbitrages."
For more information:
Philippe Etienne
Lynn Nachtergaele
Yeliz Bicici
Head of External Communication
Head of Investor Relations
Chief Operating Officer
Tel.: +32 2 373 60 32
Tel.: +32 2 777 14 08
Offices & Real Estate Development
petienne@cofinimmo.be
lnachtergaele@cofinimmo.be
Tel.: +32 2 373 00 00
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PRESS RELEASE
Brussels, 28.04.2023, 05:40 p.m. CET
About Cofinimmo:
Cofinimmo has been acquiring, developing and managing rental properties for almost 40 years. The company has a portfolio spread across Belgium, France, the Netherlands, Germany, Spain, Finland, Ireland, Italy and the United Kingdom with a value of approximately 6.3 billion EUR. Responding to societal changes, Cofinimmo's mission is to provide high- quality care, living, and working spaces to partner-tenants for their occupants to enjoy. 'Caring, Living and Working - Together in Real Estate' is the expression of this mission. Thanks to its expertise, Cofinimmo has assembled a healthcare real estate portfolio of approximately 4.5 billion EUR in Europe.
As an independent company applying the highest standards of corporate governance and sustainability, Cofinimmo offers tenant services and manages its portfolio through a team of approximately 160 employees in Brussels, Paris, Breda, Frankfurt and Madrid.
Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the REIT status in Belgium (RREC), France (SIIC) and the Netherlands (FBI). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator.
www.cofinimmo.com
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Cofinimmo SA published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 15:45:16 UTC.
Cofinimmo is one of the leading Belgian Closed-End Real Estate Investment Trusts (Sicafi). The company specializes in real estate leasing. At the end of 2023, its real estate assets, with a total area of 2,440,299 m2, had a market value of EUR 6.2 billion, broken down by type of assets as follows:
- rest homes and clinics (74.9%; 1,839,522 m2);
- offices (17.7%; 395,943 m2);
- real estate distribution networks (7.4%; 308,917 m2): cafés (Pubstone name) and insurance branches.
COFINIMMO 
