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Together in real estate

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Altogether, the company’s portfolio encompasses buildings worth more than three billion EUR. Cofinimmo’s main tenant is the public sector, including offices, healthcare properties and distribution property networks, for example a chain of pubs called Pubstone, as well as a chain of insurance branches called Cofinimur.

“We coordinate all renovations and restructuring, and we manage purchases and sales,” COO Xavier Denis explains. “We work with internal property managers who are responsible for the P&L of their buildings. At present, we are involved in two projects where we convert office buildings into apartment blocks, responding to the need for new housing in Brussels and counteracting the vacancy ratio of some buildings.”

Cofinimmo works for private and institutional investors. Today, most estates are located in Belgium, but Mr. Denis sees promising business perspectives outside the country. “We have been the leading investor and property manager in the European healthcare sector since 2009. Our current market position is ideal to realise further growth.” “We offer our clients one-stop shopping,” adds Corporate Communication Manager Chloé Dungelhoeff. “We offer services and adjust the buildings to their needs. Our investors also appreciate our stringent management approach and our transparency. We are a reliable investment partner.”

In the coming years, Cofinimmo is going to focus on two major business aspects. “Firstly, we will continue to improve the management of our assets,” says the COO. “The occupancy rate is an important indicator. The second indicator is the length of the rental agreements. We were able to increase our average rental contract length from six to eight years for the office portfolio. The overall average for our global portfolio stands at twelve years. In the coming years, we will also expand our portfolio of nursing homes and possibly also integrate different healthcare properties. Also, we see promising perspectives in the education sector. The University of Brussels assigned a 14 million EUR project to us. This is a nice challenge for us.”

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