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.
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).
Christophe LaurentPartner Attorney at Law
Christophe Laurent, Partner, heads the Real estate practice group in our Brussels office. He focuses on real estate transactions and taxation. He is also a member of the Investment Management/Funds team.T: +32 2 743 43 05 M: +32 476 39 06 90 E: [email protected]
Antoine BéchaimontSenior associate Attorney at Law
Antoine Béchaimont, attorney at law, is a senior associate of the Real Estate practice group in our Brussels office and works also in our Paris office. He focuses on counselling in real estate transactions and taxation. He is also a member of the Investment Management/Funds team.T: +32 2 700 10 39 M: +32 472 93 60 23 E: [email protected]
Natalie ReypensPartner Attorney at Law
Natalie Reypens is a member of the Loyens & Loeff International Tax Services Practice Group and heads the Belgian Transfer Pricing Team. She is a partner in our Brussels office. She focuses on corporate and international tax law.T: +32 2 743 43 37 E: [email protected]