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WorxEstate invests in North Star City and launches a strategic partnership with IRET
WorxEstate, the property division of WorxInvest, is acquiring a substantial minority stake in North Star City. This high-quality multifunctional project in Brussels will house, among other things, the new headquarters of a leading Belgian service provider in Financial Market Infrastructure (FMI). The transaction also marks the start of a strategic co-development partnership between WorxEstate and IRET, one of Belgium’s most prestigious real estate developers.
The investment highlights WorxEstate's dual investment strategy, built around two complementary pillars that form the core of the business.
The first pillar focuses on the further expansion of a portfolio of high-quality office property in Belgium. WorxEstate invests selectively in existing office buildings, acting as a committed, long-term owner that actively adds value to the assets in its portfolio.
The second pillar focuses on early involvement in multifunctional (re)development projects. Here, WorxEstate acts as a co-developer, alongside other experienced project developers. The quality of the project, the location, the partner and the long-term growth potential are of crucial importance, rather than the project’s ultimate use (office, residential or multifunctional). North Star City, with its dominant office component and limited residential element, is a perfect illustration of this approach.
We refer to the full press release for more information.
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