Patronale Life NV has acquired Affine RE's stake in Banimmo. Financial details have not been disclosed.
Patronale Life NV offers life insurance services and credit solutions for mortgages. The company was founded in 1926 and is headquartered in Brussels, Belgium.
Banimmo is a real estate developer founded in 1995 and listed on Euronext Brussels since 2007. Previously, Banimmo was active in Belgium and France in the offices and storage segments as well as niche segments such as hotels. Nowadays, the company has restored its focus on the core activities, namely office buildings in Belgium.
Affine is a property company specializing in commercial real estate. In 2003, Affine opted for French real estate investment trust (SIIC) status. Affine’s shares are listed on Euronext Paris.
Oaklins' team in Belgium advised the buyer in this transaction.
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