Catella/Sarasin fund acquires Princess Center

Catella Real Estate AG KAG has bought, for its real estate fund Sarasin Sustainable Properties-European Cities, the Princess Center building project situated Rue Fossé aux Loups 13-21 and Rue des Princes 8-10 in Brussels from developer Kairos. This transaction concerns an important re-development project in the heart of Brussels on Place de la Monnaie and just opposite its landmark Monnaie opera house.

The urban project is a mixed-use scheme of retail, offices and residential and the total leasable area of approximately 5,300 sq.m. is already fully pre-let to prime tenants (H&M, Randstad) for the non-residential part. This re-development is expected to be delivered end 2013.

Cushman & Wakefield acted as the sole agent and identified the fund of Catella acting for a Swiss bank to complete this transaction.