Cypriot property company Easternmed Real Estate Capital Plc has acquired a modern office building in the heart of Brussels that will house the European Defence Agency (EDA) under a lease of at least 15 years.
The company acquired full control of the building, known as The Muse, by purchasing 100% of the share capital of Arlon 75BV, the Belgian vehicle through which seller Immobel held the property. Both sides confirmed the transaction — Easternmed via an announcement to the Cyprus Stock Exchange and Immobel through a separate statement.
The price gap
The two announcements cited different figures for the deal. Easternmed said the total consideration for the share purchase was €82,258,055.75, paid in full by bank transfer. Immobel described the total transaction value as €100 million.
The difference reflects the two companies’ different bases of reference: Easternmed reported the price paid for the shares, while Immobel cited the overall transaction value.
Easternmed also noted that the deal generates goodwill of €22,833,438.63, arising because the property was not carried at market value in the company’s financial statements.
The building
The Muse is a recently completed office building in Brussels’ European quarter, close to the EU institutions. According to Immobel, it was delivered in April 2026 and offers approximately 10,500 square metres of premium office space. The building was designed by architectural firm Archi2000 and holds BREEAM Outstanding and WELL Platinum environmental certifications.
Revenue outlook
The agreed rent has not been disclosed. Based on prevailing market rates for premium offices in the area during the first quarter of 2026 — around €400 per square metre per year — a property of this size could generate upwards of €4 million annually, or roughly €350,000 per month. The source of those figures is explicit that this is a market-based estimate, not the disclosed rent for this specific agreement. Easternmed said in its announcement that the acquisition is expected to generate rental income that will strengthen the group’s profitability.
Easternmed holds commercial property — primarily offices — in the United Kingdom and Switzerland through its subsidiaries, with long-term rental income as its stated investment objective.