Union Investment’s Acquisition of the Company owning the Astro Tower

Stibbe assisted Union Investment on the deal. Patrizia was advised by Clifford Chance.

Union Investment completed the acquisition from Patrizia AG, on behalf of the South Korean based AIP Asset Management, of the company owning the Astro Tower, the tallest passive building in Brussels.

The 107 metres tall Astro tower consists of 30 office floors and is the tallest passive building in the city. The Property also encompasses five levels of underground car parking space and archive area. The renovation works of this iconic building were completed in 2016. The entire tower is let to Actris, a public employment agency, with 21 years of lease remaining. 

Union Investment was advised throughout the acquisition process by Stibbe (legal & tax), RSM (financial), Bopro (technical) and Howden (W&I insurance). Patrizia was advised by Clifford Chance (legal & tax), Savills (commercial), 8adivsory (financial) and TA Europe (technical).

The multidisciplinary Stibbe team was led by real estate partner Matthias Maselis (Picture). The other team members involved were Wim Panis, Bernard Beerens, Olivier Di Giacomo, Pieter-Jan Leemen, Julie De Meester, David Verbeke,  Michael Barbier and Victor-Jan Goemans.?

Involved fees earner: Bernard Beerens – Stibbe; Julie De Meester – Stibbe; Olivier Di Giacomo – Stibbe; Victor-Jan Goemans – Stibbe; Pieter-Jan Leemen – Stibbe; Matthias Maselis – Stibbe; Wim Panis – Stibbe; David Verbeke – Stibbe;

Law Firms: Stibbe;

Clients: Union Investment;

Naoual Sadouqi

Author: Naoual Sadouqi