Cibus Nordic Real Estate AB (publ) has 15 October 2025 acquired the remaining 69.35 percent of the shares in the Belgian property company One+ NV from the Belgian real estate developer TS33, thereby becoming its sole owner. Cibus and TS33 BV have agreed to establish a new 50/50 joint venture, Two+ NV, focused on newly built grocery-anchored assets in Belgium. Furthermore, Cibus divests three non-daily-goods assets in Belgium.
Cibus has through the acquisition of One+ become the sole owner of five retail assets in Belgium with a total lettable area of approximately 19,100 sqm and an underlying property value of EUR 38.6 million. Daily-goods tenants represent 64 percent of the rental income for these five assets, the remainder being discounters, a pharmacy, a gym and a small office. The One+ portfolio in total comprises seven assets, however, a binding sale agreement is in place for two discount retail assets, with the sale to take place before year-end 2025.
The economic occupancy rate of the portfolio is 100%. The newly formed Two+ joint venture ensures a continued partnership with TS33. Two+ will focus on funding and acquiring newly developed grocery-anchored assets.
Cibus will have a right of first refusal on all future TS33 retail developments in Belgium, ensuring access to a country-wide grocery store pipeline. Cibus continues to actively optimise its portfolio with three divestments of non-strategic assets in Belgium, located in De Panne, Lanaken and Oostende, leased out to non-food discounters and a gym. The properties have a combined lettable are of 4,380 sqm and an underlying property value of 5.9 MEUR.
The divestments were signed in the second half of September and first half of October 2025. The sales are made as property deals with an overall underlying property value above book value.
