Increase of occupancy rate The Crescent

End-December 2012 a services agreement was concluded for our business center The Crescent, with a subsidiary of a multinational.

This contract relates to a total office surface of 2,300 m² and was concluded for a fixed duration of 6 years, entering into force on 01/07/2013.

As a consequence the occupancy rate of The Crescent will result in an improvement from 50% to 62.5%.

Jean-Louis Appelmans, CEO of Leasinvest Real Estate: "The further occupation of The Crescent proves that this site, that was converted into a technological and sustainable business center, responds to the needs of companies that are looking for a new form of flexible housing in a technological environment, where a whole range of services is offered, and that enhances their sustainable image. Following the increased occupancy rate of The Crescent, the overall occupancy rate of Leasinvest slightly improves."

This transaction was realized through the intermediary of Cushman & Wakefield.

Divestments for € 7 million

In execution of a previously concluded sales obligation Leasinvest Real Estate has sold, at the end of December 2012, the Castle Farm "Torenhof" (located in Merelbeke), that was converted into a business center, to Axxes Certificates SA for an amount of € 3.3 million (excluding costs and VAT).
Mid-December 2012 Leasinvest Immo Lux SA (a 100% subsidiary of Leasinvest Real Estate) has sold, in the Grand Duchy of Luxembourg, for a net amount of € 915,200 a floor of the office building "Mercure" in co-ownership (located avenue de la Gare in the City of Luxembourg), where Leasinvest Immo Lux still holds 2 floors.
At the beginning of January 2013 the front part of the Vierwinden site (located in Nossegem) has been sold by Leasinvest Real Estate to Immobilière ASCO SA for a net amount of € 3 million.
On those three sales a limited capital gain was realized.