Equity Estate sells in Zaventem and Ghent to Red Rose

01 June 2018
Red Rose NV has acquired control over 2 companies in Belgium from the international fund AB CPFM Real Estate. Adbel owns a building in Sint-Niklaasstraat 27 in the center of Ghent with a total lettable area of approx. 7.000 sq m retail and office space that are let to United Brands and Proximus. AB CPFM Real Estate V owns a building of approx. 2.300 sq m in the Sint-Martinusweg in Zaventem, next to the Ikaros Business Park. The building is leased to Kyocera, the printing and copying specialist. The companies were owned by one of the joint ventures of Equity Estate with an investor from the Middle East, AB CPFM Real Estate Holding Group. The joint venture is approaching the end of its term and will be further reduced in 2018. Five buildings have now been sold in Germany (Bremen), Belgium (Ghent and Zaventem) and the Netherlands (Enschede and Schiphol-Rijk), for which the Knight Frank teams of the different countries acted as advisers.