Eubelius advises Leasinvest on renouncing BE-REIT status and on a business combination with Extensa

20 July 2021

On 12 May 2021, Leasinvest Real Estate (LRE) announced its intention to become an integrated real estate group by entering into a business combination with Extensa Group and renouncing its BE-REIT status.

The general meeting of 19 July 2021 approved a series of decisions allowing LRE to become a listed integrated real estate player which, on the one hand, invests in real estate and, on the other hand, develops real estate to be either sold or held in portfolio. For this purpose, a business combination was entered into with Extensa Group, whereby Ackermans & van Haaren contributed its 100% participation in Extensa to the capital of LRE. In addition, the shares in Leasinvest Real Estate Management, the former statutory manager of LRE, were also contributed to the capital of the company. The contributions represent a total contribution value of EUR 293 million.

The general meeting also approved the voluntary renunciation of the status of public regulated real estate company. This is the first time that a public BE-REIT has exited from its status. The Eubelius team assisted Leasinvest as legal and tax adviser. 

Michel Van Geyte, CEO of Leasinvest, emphasises that: “The Eubelius team has constantly come up with novel, innovative ideas to guide Leasinvest through this adventure. Their relentless efforts were essential to make this a success”.

By guiding this complex transition to “Leasinvest 2.0”, Eubelius confirms its position as first-tier adviser on regulated real estate companies and large-scale real estate transactions.

The Eubelius team advising Leasinvest Real Estate consisted of Lars Van Bever, Wouter Claes, Carl Clottens, Fréderic Van Campe, Eva Milants, Kelly Moens, Sofie Baveghems and Christophe Janssens.