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Meritz Securities-led group purchases Brussels tower for €1.4B

A consortium of Meritz Securities Co. Ltd., JR AMC Co.Ltd. and AIP Asset Management Co. Ltd. bought the Finance Tower in Brussels, Belgium from Breevast BV for €1.4 billion, The Korea Economic Daily's Korean Investors reported.

The purchase of the 36-story building was the biggest single-property deal in Belgium by value, the Dec. 27 report added.

For the acquisition, Meritz Securities is also planning to raise around US$300 million from a real estate investment fund's initial public offering in South Korea and another US$300 million through sell-down to domestic pension funds. The firm will borrow the remaining US$1 billion in Europe.