ASCENCIO BUYS 29 PROPERTIES

[BIZ: Liège, November 16]
The real estate specialist Ascencio, which focuses on the real estate business, has taken over a real estate portfolio of EUR 31.6m, 29 stores, primarily in Liège and Hainault. These had been in the hands of the LSI retail, LSI projects, and Immatov groups. This makes Ascencio 16.3% larger. The average length of a rental contract is 13 years. The most important tenants are Krefel and Hubo, but also Zeeman, Brico, Kruidvat and Blokker. The Acencio portfolio is now worth EUR 241m in real estate. An additional advantage is that their acquisition share of their tenant Champion, in the total rentals, is below 20%. This is necessary to profit from the vastgoedbevak –a special real estate investment instrument.
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