Leasinvest Real Estate and Extensa today announce the new name of their integrated property group. The two companies will meet the challenges the future holds together as Nextensa.
The merger creates a company with a unique market position. Nextensa combines recurring rental income from real estate investments with the value-added potential of development activities in which authenticity and sustainability are the prime concerns.
Earlier this year, investment firm Ackermans & Haaren (AvH) decided to merge the two property companies, which have been part of its portfolio since the 1990s. The shareholders of Leasinvest Real Estate (LRE), a listed company, approved the business combination at the extraordinary general meeting of 19 July. Until recently, LRE was a regulated real estate investment company (GVV/SIR) active in the high-end office and retail segment in Belgium, Luxembourg, and Austria. As such it already owns the Royal Depot, one of the landmarks of the innovative Tour & Taxis neighbourhood of Brussels. In the Grand-Duchy of Luxembourg, LRE is since many years, one of the leading investors with a real estate portfolio based on prime locations. Based on its credentials as an expert in innovative mixed-use projects with a positive impact, Extensa was commissioned to develop both neighbourhoods of Tour & Taxis in Brussels and Cloche d’Or in the Luxemburg capital. The merger gives Nextensa immediate access to the best of all possible worlds: a proven track record as a property investor and impressive knowhow in award-winning trailblazing urban development and renewal.
The incorporation of the iconic built heritage of Tour & Taxis, Cloche d’Or and other properties sites dds around 280 million euros to the group’s investment portfolio. That allows Nextensa to act decisively on the dynamic property market. It also becomes one of Belgium’s biggest listed real estate companies, with a consolidated balance sheet total of 1.9 billion euros. AvH is the majority shareholder of the new property group.
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“The synergy between Leasinvest and Extensa means that we are today able to announce our new name, Nextensa. This perfectly reflects our mission: to be a next-gen real estate investor/property developer. It is the optimal structure for the creation of great places to live, work, shop and have fun. Places you prefer,” says CEO Michel Van Geyte.
Nextensa aims to build on that basic principle to create a new concept of what a city can offer. Nextensa is uniquely positioned to identify and capitalise on opportunities that drive growth for all parties involved. The wants and needs of occupiers will always be the main focus. As will a fully developed sustainability vision and a positive social impact.
As well as assets and visions, the Leasinvest and Extensa teams also bring complementary expertise. That enables Nextensa to generate numerous additional collaborative advantages. The end of this year will see the business combination enter the next phase, as the new united Nextensa team moves into the brand-new head office at Gare Maritime, the recently renovated flagship of Tour & Taxis.
For more details, contact
Head of Branding, Communications & Experience
T: +32 2 237 08 20