| Key Facts | |
|---|---|
| Location | Brussels, Belgium |
| Deal type | Repositioning/development |
| Property type | Office building of 9,000m2 |
| Closing date | 2002 |
| Origination | Direct to bank ownership |
| Status | Sold |
| Exit date | 2008 |
Origination
- Acquired 100% of the shares in Marci directly from Nordea Bank with a lease with the Belgian Ministry of Finance.
Equity partnership
- Equity/operating partnership
Role
- Bifrost was responsible for origination, financing, value creation and active management during the holding period.
Value Creation
- Directly sourced the acquisition via personal relationship with Dexia Bank and Nordea Bank. Facilitated the closing with Nordea Bank and debt financing with Dexia Bank.
- Secured lease extension with the Ministry of Finance and positioned asset as keystone to larger development of the Gare du Midi international train station in Brussels.
- Gare du Midi is a major redevelopment district in Brussels.
Property Type
- 9,000m2 institutional quality office lease: Office space and development project at the Gare du Midi train station i Brussels, Belgium.
