Union Investment has acquired the Diamond office building in Ghent through the property company Global Life Tree NV, a joint venture between Flemish developers Global Estate Group and Life Tree Group.
The "Diamond" building, so called for its emblematic diamond-shaped façade, is located in the Sint-Pieters inner-city development area. The 16,000 m² office property is fully let to Dutch financial services provider ING and Belgian railway operator NMBS/SNCB and features a "Very Good" sustainability BREEAM rating.
The multidisciplinary Stibbe team is proud to have assisted Union Investment Institutional Property with its expansion in Belgium's third largest city by means of the acquisition of this urban landmark for its special real estate fund UII EuropeanM.
The Stibbe team was led by real estate partner Matthias Maselis and further involved Julie De Meester, Elmo Goossens and Michael Barbier on the real estate aspects and Wouter Ghijsels and Pieter-Jan Leemen on the financial aspects.
For more information on this acquisition, please click here.