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16 March 2020
BUSINESS

Bahrain’s Investcorp acquires Coca-Cola Belgium HQ for EUR 88 million

The acquisition marks Investcorp’s entry into Belgium real estate market and first European sale and leaseback transaction, bringing total European real estate AUM to approximately EUR 750 million

The property serves as the Coca-Cola’s Belgian headquarters, housing its marketing and research and development operations

by Kudakwashe Muzoriwa

Investcorp’s European real estate business has acquired ‘The Bridge’, a single let office and research and development, from a subsidiary of Coca-Cola for EUR 88 million through a sale and 10-year leaseback transaction.

The acquisition represents Investcorp’s first sale and leaseback real estate transaction in Europe and upon completion of the transaction, the property will be 100 per cent occupied by Coca-Cola and several of its existing sub-tenants.

Investcorp stated that the property serves as the Coca-Cola’s Belgian headquarters—housing its marketing and research and development operations.

Tarek AlMahjoub, the Managing Director of Investcorp in Dubai and Oman, said, “We are excited to enter the Belgian market through this acquisition as we continue to expand our European real estate platform in the Benelux region, which we believe is poised to benefit from solid economic and underlying property fundamentals.”

The property serves as the Coca-Cola’s Belgian headquarters, housing its marketing and research and development operations.

The deal follows Investcorp’s recent acquisitions of a multi-let office complex in Germany for EUR 73 million and the acquisition of a Grade A office property in the Netherlands for EUR 50 million.


RELATED STORIES: Investcorp Coca-Cola The Bridge’

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