Designed by the Belgian architectural firm Art & Build, North Galaxy was ready for use in 2004. So far, the property has housed several branches of the Belgian government - including the Belgian Ministry of Finance. ATP Real Estate acquired its interest in Galaxy Properties in 2014. During the transaction KB Securities received advisory services from Knight Frank Investment Management.
The acquisition of its 90 percent stake in Galaxy Properties in 2014 was the largest single acquisition in the history of ATP Real Estate and was also the largest international real estate related investment made by a Danish investor. This is now being followed up by the largest single asset sale in the history of ATP Real Estate. Commenting on the transaction investment director in ATP Real Estate, André Scharf, says:
“North Galaxy in Brussels is an outstanding property providing a great work environment for the Belgian Ministry of Finance. After 8 years of ownership and with the help of our partners, we are now passing on the baton and realizing a satisfactory return for ATP’s 5.4 million members.”
"Overall, I am very pleased that we are successfully completing one of our largest real estate realted investments, with a return that exceeds our initial expectations. Meanwhile, the transaction presents us with an opportunity to focus our portfolio on the Danish market, which allows us to get closer to our national clients with more direct and active ownership.”