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News Release


Aberdeen successfully acquires Livingstone II SA/NV with the intervention of JLL

​JLL informes that Aberdeen acquired 100% of the shares of the company Livingstone II SA/NV, owner of the Livingstone II office building, located in  the heart of the European District in Brussels.
The shares were acquired from Cofinimmo S.A. by Aberdeen European Balanced Property Fund, a core real estate investment fund managed by Aberdeen Asset Management.

In 2014, the company Livingstone II SA/NV completed the full renovation of the office building, which offers an above-ground surface area of 16,000 m² over six floors. In May 2014, the entire building was let for a 15-year term to the European Commission, which uses the premises as a new staff training centre, located at short walking distance from the Commission´s main office and most other European Institutions.

Gert-Jan Kapiteyn, fund manager of the Aberdeen European Balanced Property Fund, comments: "The acquisition related to the Livingstone II building, a high quality asset in the heart of Europe, is a very strong addition to the portfolio. It offers our investors well secured, long-term income and growth potential."

Cofinimmo was exclusively advised by JLL on this deal:
"We organized a tendering process for this landmark transaction in the office segment, attracting strong competition from national and international investors. With this deal, Aberdeen has proved that they have the right team and means in place for closing a deal of this size in such a competitive environment. " said Vincent Van Brée, National Director, of the JLL Belux Capital  Markets team.

Baker & McKenzie acted as legal advisor to Aberdeen, Axxio as technical surveyor and Deloitte for tax and financial advice.