Belgian insurance group Integrale has joined forces with pension fund Ogeo to acquire the Copernicus office complex in the centre of Antwerp for an undisclosed amount.

The vendor is IRET Development, advised by King Sturge Belgium. The transaction was concluded based on a yield of around 5.7%.

Copernicus provides around 15,000 m2 of space arranged over five floors and a further 1,305 m2 of archive space. There are 55 inside parking spaces and 102 outside. The building was constructed in 1990 and has been refurbished in 2010. It was recently let to the VDAB, the Flemish Public Employment and Training Service, on an 18-year lease.

IRET Development is an international real estate developer active in the office, residential and retail segments and with a development pipeline totalling over 400,000 m2 across Belgium, France and Romania.