Hamburg Commercial Bank finances Acquisition of BREEAM certified office property in Belgium
Hamburg Commercial Bank (HCOB) provides EUR 16.5 million to Altaal Group and 1Zone Capital. The joint venture is using the financing to purchase a modern office building in Brussels that has been awarded a BREEAM (Building Research Establishment Environmental Assessment Methodology) certificate for sustainability.
Constructed in 2009 in the south of the Belgian capital, the complex consists of three wings and comprises almost 18,000 variably divisible square meters as well as 200 underground parking spaces. Around 300 solar panels were installed on the roof of the six-story building, and all floors have interior and exterior facades that benefit from natural light during the day. Employees have access to a garden and a yoga room, showers, lockers, bike racks and a laundry service.
Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank – Copyright: HCOB
The building is located between two metro stations and has very good highway access. The capital’s new hospital (CHIREC) and the main campus of the Université Libre de Bruxelles (ULB) with its research facilities are in the immediate vicinity.
“With this financing, we are further expanding our commitment in neighboring European countries. Having already supported our long-standing client 1Zone Capital on several of their investments, we are delighted with this office project in Belgium and the new business relationship with the Swedish alternative investment firm Altaal,” said Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank. “From a sustainability point of view, this green-certified building fits very well into our portfolio. In addition, the location – in close proximity to the university and the city’s largest hospital – as well as the infrastructural connections offer excellent conditions for the further establishment of technology and pharmaceutical companies as well as research institutions.”
“Acquiring a BREEAM-certified building in one of Europe’s most attractive leasing markets together with 1Zone Capital, an entrepreneurial partner highly experienced in the BeNeLux countries that we know well, is a perfect fit for our company,” said Henrik Schmidt, founder of Altaal. “We have found the experts at Hamburg Commercial Bank to be very savvy and results-oriented in this first collaboration.”
“We are pleased to have HCOB as an experienced financing partner on our side for this project,” said David Anving, CEO of 1Zone Capital. “We are currently seeing an increasing demand for office space with high sustainable building features, also in Brussels. We want to continue executing our business plan, which is focused on delivering green designed tenant experience.”
About Altaal
Altaal is a Northern European alternative investment company operating through private market platforms built on knowledge and social change. The company focuses on assets with inflation-protected returns combined with positive ESG potential.
About 1Zone Capital
1Zone Capital is an investment firm based in Frankfurt, Germany with a focus on converting existing properties in to best in class sustainable assets.
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