Letting success for the KanAm Grund Group: Finnish Embassy extends lease at ′Le Corrège′ in Brussels

The Finnish Embassy has extended its lease on 5,000 sq. m. of offices at "Le Corrège" in Avenue Cortenbergh in Brussels.  The new lease will see it remain in occupation until 2040. The Finnish Ministry of Foreign Affairs has been a tenant of the property since 2013. "Le Corrège" is managed through a specialized institutional real estate fund of the KanAm Grund Group since 2020. 

The "Le Corrège" was built in 1992 and last modernized in 2012. The six-storey office features a garden and terraces with over 60 car parking spaces. The property is located in the European Quarter of Brussels, home to the European Commission, the Council of the European Union and the European Parliament as well as numerous embassies and country representations.                            

Modernization and ESG measures pay off          
Following the acquisition of the property by the KanAm Grund Group, numerous sustainability measures have been implemented. For example, the building technology has been optimized and charging stations for electric cars installed. The implementation of further sustainability improvements has been agreed as part of the lease extension.

Anthony Bull-Diamond, Managing Director and Head of Investment and Asset Management Europe, says: "We are delighted in securing the Finnish Embassy as a long-term tenant. Thanks to the active approach of our Asset Management team, we made targeted investments towards sustainability measures, thereby futureproofing the asset and our investor’s interests long-term.”

The KanAm Grund Group was advised in the letting by AIM Real Estate.  
Discussions on behalf of Finland were conducted by the Facilities Services Unit of the Ministry for Foreign Affairs of Finland. The Unit is responsible for acquisition, renting, subleting, management, construction, renovation and maintenance of real estates and facilities in the Diplomatic Service.