M&G Real Estate expands Belgian office portfolio

M&G Real Estate, the real estate fund management arm of M&G Investments, has added to its Belgian office portfolio with the €42 million acquisition of Trio, a 15,383 sq m modern office scheme on Chaussée de Charleroi in the prestigious Louise district of Brussels. The deal was made on behalf of the M&G European Property Fund managed by David Jackson and Simon Ellis.

This follows the purchase of a prime office building on Rue Guimard in Brussels and brings M&G Real Estate’s overall exposure to the Belgian market to circa €267 million.

Located on the edge of the central business district, Trio’s tenants include Pernod Ricard, the Belgian State and Rail Europe. As the economic and political centre of Europe and thus its high exposure to European political institutions, the Brussels market is considered more stable and less exposed to cyclical fluctuations than its other European counterparts. To tackle congestion issues, the government plans to invest circa €5.2 billion into the city’s infrastructure by 2025, enhancing mobility and business efficiency.

David Jackson comments: “The economic stability, growth prospects and low vacancies in the office markets make Northern Europe an attractive place to invest. These markets fundamentals are in line with our core European Strategy and our ongoing commitment to Northern Europe will help us deliver long-term income driven returns for our investors.”

Olivier Vellay, Head of Investments for Continental Europe, explains: “Belgium is also a key market for M&G’s European long lease property strategy – the first pooled institutional fund to invest in Continental European long lease real estate. Launched in early 2016 in response to the changing dynamics of the European financing landscape, it provides institutional investors with income growing in line with inflation through investment into real estate leased to tenants over the long term.”

M&G Real Estate’s European offices are located in Frankfurt, Madrid, Paris and Stockholm.

The economic stability, growth prospects and low vacancies in the office markets make Northern Europe an attractive place to invest. These markets fundamentals are in line with our core European Strategy and our ongoing commitment to Northern Europe will help us deliver long-term income driven returns for our investors.

David Jackson,
Property Fund Manager, M&G Real Estate

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Notes to Editors

OpenAbout M&G Real Estate

M&G Real Estate is the real estate fund management arm of M&G and is a leading global real estate investor with over £30 billion (including cash) invested in a broad spread of properties across Europe, North America and the Asia Pacific region (as of 30 September 2017). M&G Real Estate has a sector leading approach to responsible property management, and is committed to assessing and improving the sustainability performance of funds under management.

M&G is the investment arm of Prudential Plc in the UK, Europe and Asia. For more information please visit www.mandg.com/realestate

OpenAbout M&G

M&G is a leading international asset manager with a long-term, active approach to investing. The firm has been helping people to prosper by putting their money to work for more than 85 years. M&G’s customers include private investors, members of pension schemes and life insurance policyholders. Responding to the ever changing financial landscape, the firm has developed a wide range of investment solutions, across equities, fixed income, real estate, multi asset and infrastructure. At 30 September 2017 M&G manages over £285 billion in assets for its customers.

Headquartered in London, M&G employs over 2,000 people worldwide in 16 countries, managing assets in Europe, Asia and the US. M&G is the asset management arm of Prudential Plc in the UK and Europe.

As a steward of clients’ assets M&G recognises the importance of responsible investing with the analysis of environmental, social and governance (ESG) factors core to the business. M&G is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Program, which is dedicated to achieving the long-term goal of building climate resilient economies. M&G’s £30 billion real estate business arm has a sector leading approach to responsible property management, and is committed to assessing and improving the sustainability performance of its funds.

M&G Investments is a business name of M&G Investment Management Limited and is used by other companies within the Prudential Group. M&G Investment Management Limited is registered in England and Wales under number 936683 with its registered office at Laurence Pountney Hill, London EC4R 0HH. M&G Investment Management Limited is authorised and regulated by the Financial Conduct Authority.

This press release reflects the authors’ present opinions reflecting current market conditions; are subject to change without notice; and involve a number of assumptions which may not prove valid. It has been written for informational purposes only and should not be considered as investment advice or as a recommendation of any particular security, strategy or investment product. Past performance is not a guide to future performance.

The services and products provided by M&G Investment Management Limited are available only to investors who come within the category of the Professional Client as defined in the Financial Conduct Authority’s Handbook. They are not available to individual investors, who should not rely on this communication. Information given in this document has been obtained from, or based upon, sources believed by us to be reliable and accurate although M&G does not accept liability for the accuracy of the contents.

M&G Real Estate is a business name of M&G Investment Management Limited and is used by other companies within the Prudential Group. M&G Investment Management Limited is registered in England and Wales under number 936683 with its registered office at Laurence Pountney Hill, London EC4R OHH. M&G Investment Management Limited is authorised and regulated by the Financial Conduct Authority. M&G Real Estate Limited is registered in England and Wales under number 3852763 with its registered office at Laurence Pountney Hill, London EC4R 0HH.

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