Hamburg-based closed-end fund manager Hesse Newman has acquired an office building in the Leopold district of Brussels from an unnamed party for around EUR 62 mln.

The property is let to the EU Commission through 2020 and is earmarked for Hesse Newman's new Classic Value 3 fund, which will be marketed to investors in the second quarter of 2011. The fund is expected to have an investment volume of EUR 68 mln, of which EUR 37 mln will be equity.

The property offers 12,800 m2 of total lettable area spread over nine floors, with two small retail spaces and a five-storey parking lot with 276 spaces.

Knight Frank's Brussels office advised the buyer.