Nextensa and ION divest Brussels office asset

Belgian real estate developers Nextensa and ION have sold all their shares in Monteco BV, the owner of the Monteco building in Brussels, to Caisse d’Épargne et de Prévoyance Hauts de France.

Monteco

Monteco is strategically located at the intersection of Rue Montoyer and Rue de l’Industrie in the EU District of Brussels. It provides approximately 3,760 m² of office space and 14 underground parking spots. The property is held under a 99-year lease that began in 2014. 
Between 2020 and 2022, Nextensa and ION redeveloped it into Brussels' first high-rise office building with a timber structure. Since its completion in late 2022, Bank Nagelmackers has fully leased the building long-term.
The property was valued at €28 mln in this transaction.
This off-market deal, advised by Delta Real Estate AM for the buyer, demonstrates the ongoing interest from institutional investors in sustainable, high-quality office buildings in prime areas.
In Brussels, Nextensa is also developing over 350,000 m2 at Tour & Taxis, which includes renovating historic buildings and constructing new ones. In Luxembourg, they are collaborating on a significant urban expansion project at Cloche d’Or, spanning over 400,000 m2, featuring offices, retail spaces, and residential units.
Operating across the Benelux region, with offices in Waregem, Brussels, and Antwerp. ION currently has projects under development valued at €3.1 bn.