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17 January 2020 / deal

Loyens & Loeff congratulates Breevast for the sale of Financietoren

The biggest single asset sale in Belgian history completed on Friday 17 January 2020, and our Real Estate team is particularly proud to have assisted Breevast in all legal and tax aspects of this landmark deal.

Financietoren in Brussels

Largest single asset sale in Belgium

The sale of Finance Tower (Financietoren / Tour des Finances) is the largest real estate transaction brought to the Belgian market. The Valesco Group, a UK and European real estate investment and asset manager acting on behalf of Korean institutional investors, will acquire this asset from Breevast BV. The Finance Tower is fully let to the Belgian State.

Lead advisor to the seller

The Loyens & Loeff deal team was led by Real Estate Partner Christophe Laurent, assisted in all steps of this transaction by Lien Bellinck (Senior Associate, Real Estate), and with the support of Real Estate team members Ariane Brohez (Partner), Antoine Béchaimont (Senior Associate), Olivia Oosterlynck (Associate) and Nikolaas Backaert (Associate), who were all instrumental to the successful closing of this transaction. Prior to the sale process, our Real Estate team has also relied on the expertise of our specialists Natalie Reypens (Partner) and Aldo Engels (Senior Associate) for transfer pricing matters, and Hélène Bourleau (Senior Associate) for VAT matters.

Our team was involved in all legal and tax aspects of this complex transaction, with multiple parties, and lead the negotiations.

Christophe Laurent, Real Estate Partner: "It makes us particularly proud to have been involved in such a landmark deal, which proved to be a challenging and complex transaction sometimes. Our expertise in managing all aspects of large real estate deals from a tax and legal perspective on a daily basis, together with the dedication of our team members is our greatest asset.”

Loyens & Loeff also thanks Breevast’s other advisors, Ivan Peeters and Sean Jonckheere (PwC Legal), Matthias Maselis, Pieter Nobels and Egbert Wagelsmans (Stibbe), for the excellent collaboration throughout the entire process.

Other advisors involved were Linklaters (counsel to the lessors), Ashurst and PwC (counsels to the buyer), and Allen & Overy (counsel to the financing providers).

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