The idea behind the AxisParc resulted from various site visits of comparable successful business parks around the world.
During these visits the initiators of the AxisParc identified different key success factors that differentiate typical business parks from high end parks such as the AxisParc.
Silicon Valley Santa Clara, USA
Why an FIIS?
Historically, the real estate park located in Mont-Saint-Guibert was owned by several real estate companies. In 2019, these companies were acquired by Axis Parc Fund FIIS.
A restructuring operation was then carried out and these were absorbed into Axis Parc Fund, forming a single entity ever since.
Advantages of the Axis Parc Fund SA SICAF FIIS structure:
- more efficient management allowing economy at scale;
- greater flexibility in terms of rental options, thus reducing the risk of rental vacancy;
- harmonisation of the rental price structure;
- no internal competition between the different assets.
What is an FIIS?
Axis Parc Fund SA SICAF FIIS is an institutional closed-end investment company and is managed by an alternative investment fund manager, Tribeca AIFM, which in turn is supervised by the Financial Services and Markets Authority (FSMA).
By introducing this scheme, the authorities created an attractive real estate investment fund and repositioned Belgium as a financial hub. In fact, the legislator created a flexible regulatory framework specifically for real estate investments, and intended for institutional and professional investors, thus attracting foreign managers of real estate investment funds, who previously had recourse to other financial centres to create these types of funds, such as Luxembourg and the Netherlands.
The FIIS is administratively easy, transparent and managed by a regulated and specialised Alternative Investment Fund Manager (“AIFM”), operating within a European regulatory framework.
In addition, the FIIS benefits from a favourable tax regime.