Leasinvest Real Estate intends to become an integrated real estate group through an envisaged business combination with Extensa Group and by giving up its BE-REIT status
JAN SUYKENS, CEO ACKERMANS & VAN HAAREN CHAIRMAN LEASINVEST RE:
“AvH, which owns today both 30.01% of LRE and 100% of Extensa, is pleased to be able to support the evolution of the Company’s strategy as proposed by its management. Through the contribution of our stake in Extensa, we strengthen our commitment to LRE and we support the intended strategic evolution towards a mixed real estate investment and development group.”
MICHEL VAN GEYTE, CEO LEASINVEST RE:
“’Leasinvest 2.0’ will become a real estate player with a unique market position that combines the best of both worlds: recurring rental income from real estate investments and added value potential from development activities. In addition, ‘Leasinvest 2.0’ will operate from a thorough sustainability vision in which it will make a lasting contribution to the development and optimization of its real estate portfolio in Belgium, the Grand Duchy of Luxemburg and Austria.”
A unique combination
Leasinvest Real Estate (the “Company”) announces today it is working on a business combination whereby Ackermans & van Haaren (“AvH”) will contribute its 100% stake in Extensa Group NV/SA (“Extensa”) to the capital of the Company.
This is in line with the intention to transform the Company into a listed integrated real estate player, which on the one hand will invest and on the other hand will develop real estate, either to sell or to keep in portfolio. This new business model implies several fundamental changes to the framework in which the Company operates today. Leasinvest Real Estate will therefore propose to an Extraordinary General Meeting to voluntarily renounce its BE-REIT status (and the associated tax regime).
“Leasinvest 2.0” will combine a proven track record of an international real estate investor with leading (re)development capabilities.
This is made possible by the business combination of:
- Leasinvest Real Estate, a real estate investor, active in the high-quality segment of both offices and retail in Belgium, Luxembourg and Austria.
- Extensa, a true specialist in mixed-use urban developments, which realizes large, particularly high-quality, and acclaimed real estate projects in Belgium, in particular Tour & Taxis in Brussels and Cloche d’Or in Luxembourg.
Bringing together the real estate positions and the complimentary expertise of the teams of both companies will create synergies and form a solid base for a strategy focused on realizing and managing innovative mixed-use urban developments, thus creating new city districts or reviving existing ones. With this focus, the Company can combine recurring rental income with attractive capital gains.