Nextensa sells the Titanium site in the Grand Duchy of Luxembourg to Codic, for 110 million euros
29 Dezember 2022 - 5:40PM
Nextensa sells the Titanium site in the Grand Duchy of Luxembourg
to Codic, for 110 million euros
PRESS RELEASE
Brussels, 29 December 2022, 5.40 PM
Nextensa sells the Titanium site in the
Grand Duchy of Luxembourg to
Codic, for 110 million euros
Codic is a Belgian real estate player operating in
Belgium, Luxembourg, France, Spain and Hungary. In November 2021,
Nextensa signed an agreement with
Codic to sell 100% of the shares of the Luxembourg
company GK5 Sàrl, owner of the
Titanium site in the Cloche d'Or district, under
conditions precedent. The effective transfer of the shares took
place today. The total investment reaches 110 million euros.
With this sale, the real estate investor and
developer Nextensa realises a significant capital gain in the last
quarter of 2022. Furthermore, the rental income from the Titanium
building on the site - representing approximately 2.6 million euros
in 2022 - is still contributing fully to this year's net
result.
« The sale of this site is part of
Nextensa's debt reduction strategy and provides a significant
capital gain that will have a strong positive impact on the 2022
results. » - Michel Van Geyte, CEO of Nextensa
The Titanium site is located on the west of the
Cloche d'Or district in the city of Luxembourg. This new urban
district is the result of a long-term urban planning process, which
originated from the southward expansion strategy of the Luxembourg
capital. Today, the Cloche d'Or is being developed as a
sustainable, hyper-connected, mixed-use neighbourhood. A place
where quality of life is crucial. With the acquisition of the
Titanium site, Codic strengthens its presence in this innovative
environment.
« We are pleased to have reached a closing
with Nextensa to acquire this site in the Cloche d'Or district,
located between the Route d'Esch and Avenue Guillaume Kroll. We
will develop a large-scale project with strong architectural,
environmental and social features. This acquisition also marks the
first success of our new department Codic Invest, which has managed
to raise significant funds from investors, together with Bank
Degroof Petercam. Through this new business activity, we offer our
financial partners the possibility of investing alongside us,
benefiting from our thirty years of Luxembourg experience and our
know-how, all in a perfect alignment of interests. » - Thierry
Behiels, CEO of Codic International
Codic has an ambitious project to redevelop this
logistics site of some 3.3 hectares. The group wants to transform
this industrial site into a multifunctional complex that integrates
the environmental and social criteria of its CSR-policy. This mixed
development will include offices, services and a hotel.
The reconversion of an industrial site is not a
first for Codic in Luxembourg. The former Ford garages and the AEG
Siemens site on the Kirchberg Plateau were successfully developed
as part of The Square and K2 projects.
About Nextensa
Nextensa NV/SA is a mixed real estate investor
and developer. The company's investment portfolio, which is divided
between the Grand Duchy of Luxembourg (46%), Belgium (41%) and
Austria (13%) and has a total value of approximately 1.35 billion
euros as at 30/09/2022. As a developer, Nextensa is mainly active
in the design of large urban developments. At Tour&Taxis (a
development of more than 50,000 m²) in Brussels, Nextensa is
building a mixed real estate portfolio consisting of a revaluation
of emblematic buildings and new constructions. In Luxembourg
(Cloche d'Or), it is working in partnership on a major urban
extension of over 400,000 m² comprising offices, shops and housing.
The company is listed on Euronext Brussels and has a market
capitalisation of €541,1 million (on 30/09/2022). For more
information, please visit www.nextensa.eu.
About Codic
CODIC has been a passionate property developer
for over 50 years. The group focuses its developments on office,
retail and residential projects. Each of its projects is
characterised by the creation of pleasant living spaces. The
fundamental principles of CODIC are a strong architectural
identity, the quality of planning and materials, the use of
high-level technology, careful landscaping and a commitment to
sustainable development in all projects. CODIC is developing its
know-how throughout Europe: in Belgium, France, the Grand Duchy of
Luxembourg, Hungary and Spain. CODIC has been present in Luxembourg
since 1989 and has already developed nearly 250,000 m² in
Luxembourg. For more information, please visit www.codic.eu
For more information :
Michel Van GeyteChief Executive Officer Nextensa+32 3 238 98 77
michel.van.geyte@nextensa.eu
Thierry BehielsChief Executive Officer Codic International+32 2
663 20 52t.behiels@codic.eu
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