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Home Invest acquires stake in Belgian leisure complex in €75M deal

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Home Invest acquires stake in Belgian leisure complex in €75M deal

Home Invest Belgium, through a newly created jointly owned subsidiary, acquired a 51.43% stake in Sunparks De Haan NV, which owns a tourist spot and leisure facility complex in De Haan, Belgium.

The transaction value is roughly €75 million, which will be partly financed by shareholders and the remaining amount will be financed via bank debt.

The newly created entity is 50% owned by Home Invest, with Belfius Insurance holding a 25% stake, infrastructure investor TINC owning a 12.5% stake and infrastructure fund DG Infra Yield holding a 12.5% stake.

The remaining stake in Sunparks De Haan is owned by a French equity fund that is managed by real estate asset and fund manager Atream.

The seaside complex is operated by Sunparks Leisure NV for a fixed initial period of 15 years. The owners plan to gradually upgrade the property.