Degroof Petercam advises CODIC on the structuring and financing of a flagship office development project in Luxembourg

CODIC, a Belgium-based real estate developer, has recently launched a landmark office development project in Cloche d’Or in Luxembourg. The project consists of a 52,726m² complex which will include high-class offices, retail spaces, and a hotel. The complex will meet strict ESG standards and integrate post-COVID working styles. Carbon neutrality will be sought for the entire project development.

The project required €125 million of equity financing. CODIC invested€25 million and offered investors the opportunity to co-invest the remaining €100 million in the form of a club deal.

Degroof Petercam – IMAP Belgium assisted in the structuring of the transaction through a Luxembourg-registered Alternative Investment Fund (AIF) set up by CODIC and managed by Fuchs. The €100 million equity was raised from investors across Belgium, France, and Luxembourg.

This flagship transaction underlines once more Degroof Petercam’s expertise in the Real Estate sector and its ability to successfully advise corporates on strategic fundraising. It also demonstrates its unique business model and network of investors and clients.