Patrizia AG, a German real estate investment manager, has completed the takeover of the Green Life project from Belgian real estate developer Matexi. This new residential complex designed by Architectes Associés is located in Brussels on the Rue du Bambou at the border between Forest and Uccle. It consists of 58 units divided into two buildings linked by a private green park. Overall, the cost of the construction work was budgeted at 6.3 million Euros and the resale value is expected to be in the region of 15 million.
Treex was first mandated by Patrizia AG to carry out a Technical Due Diligence prior to the acquisition. Following this audit, after acquisition, Treex represented Patrizia AG during the follow up of the last phases of the construction works until final delivery in 2021.The apartments are now available for rent.
Acting for the parties in this transaction were Clifford chance and Treex for the buyer, while CBRE advised the seller.