Aareal Bank provides €65 million financing for landmark office building

One year after the purchase of the iconic Mondrian office building in Brussels by Cicerone RE Holding BV, Aareal Bank, acting as Arranger, Agent and Sole Lender, has provided a € 65 million loan facility to the buyer.

  • Loan to Cicerone RE Holding BV
  • Property leased by the European Commission

Wiesbaden, 15 April 2021 – One year after the purchase of the iconic Mondrian office building in Brussels by Cicerone RE Holding BV, Aareal Bank, acting as Arranger, Agent and Sole Lender, has provided a € 65 million loan facility to the buyer.

Cicerone RE Holding BV is fully participated by Cicerone Fund, a pan-European property fund, dedicated to Cassa Forense (Italian Pension Fund for Lawyers) and managed by Fabrica Immobiliare SGR and advised by CBRE GI. Cicerone RE Holding BV is dedicated to the creation and management of a high-quality property portfolio. Allocation of the portfolios is focused on office in the main European cities.

The Mondrian is recognised as a landmark building in one of the best business addresses in Brussels, the “Quartier Léopold” – the well-known EU district of the Belgian capital. Built in 2004 and offering 19,297 sqm of first-class office space, the property has been fully let to the European Commission since the first occupancy. Designed by Assar architects and recognised with the MIPIM Award 2005 in the ‘business centre’ category, it is mainly used for the Commission’s research and development activities.

“We are glad to have signed this great financing opportunity, secured by a prime asset with a long-term lease. Brussels is a core office market, where Aareal Bank has been active for decades and will continue to selectively develop its business. We are very glad that this transaction allowed us to support one of our Italian clients in its pan-European activities”, stated Martin Vest, Managing Director at Aareal Bank.

Cicerone RE Holding BV was advised by Loyens & Loeff and Legance. The financing advisory service was provided by Narciso Capital. Aareal was advised by CMS.

Additional photographs for editorial use can be downloaded here.

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