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Stock Market & Financial Investment News

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July 7, 2014
05:08 EDTARESAres Management to acquire Pegasus Business Park for EUR 83.4M
Ares Management announced that real estate funds it manages have signed a definitive agreement to acquire Pegasus Business Park from SEGRO PLC, a large, listed UK REIT, for EUR 83.4M. Located near the Brussels International Airport and eight kilometres from the city centre, Pegasus Business Park was initially developed by SEGRO between 1999 and 2003 and today consists of nine office buildings and an underground car park extending over 83,384 square meters. The transaction also includes 11 plots of undeveloped land adjacent to existing buildings and encompassing more than 65,000 square meters. With an average occupancy rate of approximately 80%, Pegasus Business Park currently has 27 tenants.
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