JLL advises Ghelamco Group on €105 million financing for the acquisition and development of The Wings in Brussels, Belgium
JLL’s Debt Advisory and Structured Finance team advises on Ghelamco’s latest development
London, January 20, 2022 – JLL has advised Ghelamco Group, a leading European real estate investor and developer, on the €105 million financing for the acquisition and development of The Wings in Brussels, Belgium, a freehold development site that will deliver a Grade-A office led mixed-use scheme. The scheme has been designed by leading Belgian architects, Assar, and is pre-leased to Ernst & Young as its new Brussels headquarters.
The whole loan was provided by a US based investment management firm. The Wings, which has secured planning consent and is currently under construction, will deliver an exemplary mixed-use scheme that will encompass circa 37,500 sq m of highly sustainable, Grade-A office space and a circa 14,500 sq m 250-key 4* hotel.
Located to the north-east of the city centre, The Wings is strategically located in the airport district, home to more than 300 companies, many of which are the Belgian headquarters of international firms.
The JLL debt placement team representing the borrower was led by senior director Claudio Sgobba, director Karan Mahajan, associate Hamish Gordon and analyst Elena Roberts.
Michael Gheysens, Managing Director, Belgium, Ghelamco, commented: “We are pleased to have worked with JLL to secure a loan financing partner for The Wings, Ghelamco’s latest development and destination in the Diegem region. We look forward to delivering this innovative scheme for all stakeholders over the next two years.”
Claudio Sgobba, Senior Director, Debt and Structured Finance, EMEA, JLL, added: “Due to the credit profile of this development, best-in-class sponsorship, and triple BREEAM Excellent, Well Gold and DGNB gold certification, we received strong interest from the debt capital markets. We are delighted to have been able to support Ghelamco and structure conditions superior to a partially pre-leased construction loan.”
Ghelamco Group is a leading European real estate investor and developer active in the offices, residential, retail and logistics markets. It maintains a high-quality internal control with respect for agreed milestones over all its project development phases: land purchase, planning, coordinating the construction phase and sale or lease. Its projects combine prime and strategic locations with efficient and aesthetically inspiring designs. Its successes are generated by the group’s professional and enthusiastic staff that is driven by the vision and passion of its management. It is active on the Belgian, Polish, UK, French, Ukrainian and Russian markets. Constantly striving to achieve greener and more sustainable ways of delivering their projects, Ghelamco have become pioneers in the creation of energy neutral concepts, meeting the highest ecological standards across their entire portfolio.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.