Forum Estates Holding BV has just successfully completed its 12th capital increase at civil-law notaries Ghesquière, De Brabandere and Degryse. Approximately EUR 11.3 million was raised from a number of existing and new shareholders, partly in the capital, partly with a subordinated loan. Forum Estates Holding BV is the holding company above Forum Estates NV, which acquired the GVBF or REIT status in December 2019.
This capital increase is intended to purchase a number of previously committed projects worth EUR 20 million. Forum Estates aims to further expand its portfolio of EUR 325 million supermarket and e-commerce resistant real estate. Despite the fact that supermarket projects are highly demanded due to the proven e-commerce and pandemic resistance, Forum Estates still manages to build up a promising pipeline of supermarket projects in Belgium. In the meantime, Forum Estates has become the Belgian market leader in neighbourhood supermarket real estate, with some 92 supermarkets spread across Belgium in its portfolio.
Forum Estates has the ambition to grow further in 2022 into a listed supermarket fund with a real estate value of EUR 450 million. For this purpose, a number of capital rounds will be conducted with private individuals and institutional investors in the coming years.
CEO Stefan De Bock responds with satisfaction: “With this capital increase, Forum Estates once again proves that it can place and manage a good, safe and stable investment product on the market. I am pleased that a number of existing shareholders are once again confirming their confidence in Forum Estates and that we can once again welcome some new shareholders.”
21 December 2020