27/07/2005

Fortress Germany, a branch of the American investment fund Fortress, has sold different real estate companies owning assets in Belgium and in Luxembourg to Fortis Bank Insurance. Fortis Bank Insurance was advised by Fortis Real Estate on the entire transaction. Fortress was advised by CB Richard Ellis on the entire transaction.

The 2 assets in Belgium are located in the Twin Squares in Diegem, in the Brussels periphery (building Vendôme & building Madison). The two buildings are fully let and benefit from an excellent visibility and accessibility, on top of the high quality building standard, to which they answer. The assets are completely let to NCI and Microsoft.

The Luxembourg asset is known as the "Centre Descartes" and is located on the Rue d'Arlon. This area is characterized by its presence of banks, financial institutions and wealth management companies, driving on their excellent accessibility to both the city center of Luxembourg and to Belgium. This is also reflected in the occupation of the Centre Descartes, which is fully let to a multitude of tenants such as Banque Sarasin, Banque Delen and Banque de Tokyo.

Together the different buildings represent 18.000 m² of office space and are valued at a total volume of 65 Mio Eur.

Press contact:
Hellen Coppen
Tel: +32 2 609 66 29
Mail : hellen.coppen@fortis.com