Press Release
Brussels, 20 February 2017
AG Real Estate acquires the company holding the longterm lease rights to the IT Tower in Brussels.
AG Insurance, represented by its property subsidiary AG Real Estate, has announced that on
25 January 2017 it acquired the total share capital of the company holding the long-term lease
rights to the IT Tower in Brussels.
Formerly called the ITT Tower, the name of the American company which started its
construction in 1968, the tower, whose name was changed to IT Tower in the early 2000s, is
located at the numbers 480-482 of the avenue Louise, just behind the Abbey of La Cambre.
This 102-metre high office block, provides over 21,400 sq. m of office space, 331 car parking
spaces in the basement, the Café Callens on its ground floor but also, on its roof, the famous
“Villa in the Sky” restaurant, orchestrated by the Michelin star chef Alexandre.
Most of the tenant companies operate in consultancy, banking or the legal sector. This building
benefits from an exceptional location and excellent visibility overlooking the Brussels Region.
Due to its ideal location, its accessibility and its prestige, the building has always enjoyed an
excellent occupancy rate.
At the end of the lease right, the company, which is currently the holder, will benefit from a
right of superficies granted by the City of Brussels expiring in 2119.
“This acquisition contributes to the continuous improvement of AG Real Estate’s portfolio in
Brussels and will allow us to diversify the range of products that we offer our occupants with
a “multi-let” type of property of the prestige of the IT Tower”, Amaury de Crombrugghe, Chief
Investment Officer Office & Warehouse at AG Real Estate said. “We are very pleased with the
positive outcome of the negotiations started a year ago with the vendors and are convinced
that with AG Real Estate, the IT Tower will soon be able to celebrate its 50 years of existence
with the prospect of remaining for many decades yet to come a flagship property of Brussels”,
stated Amand Benoît D’Hondt, Head of Funds, Alternative & Healthcare Investments & Fund
Management at AG Real Estate.
For this operation, AG Real Estate used the consultancy services of JLL and Baker &
McKenzie.
AG REAL ESTATE
AG Real Estate, a wholly owned subsidiary of AG Insurance, is active in multiple key real
estate-related areas: asset and property management, development and construction
management, PPP & real estate finance and car park management via its subsidiary
Interparking. AG Real Estate also manages an investment portfolio, both for itself and for
external clients, currently valued at nearly €6 billion.
The company employs a staff of over 200 with a wide range of skills and profiles, with another
2,300 employed in car park management across nine different European countries.
For more information, go to www.agrealestate.eu.
AG INSURANCE
With a total market share of 21.4% at year-end 2015 (27.9% in life insurance and 16.1% in
non-life insurance), AG Insurance is the leading player on the Belgian insurance market. To
better serve individual customer needs, AG Insurance distributes its products through several
channels: independent brokers and Fintro agents, bank branches at BNP Paribas Fortis and
bpost bank, and group insurance for large corporate accounts.
The company employs a staff of over 4,000, each specialised in their own particular area. For
more information, go to www.aginsurance.be.
Press contact:
AG Real Estate
Véronique Mathonet
Chief Human Resources & Communication Officer
58 Avenue des Arts, 1000 Bruxelles
Tel. +32(0)2 609 66 73
[email protected]