Qrf : Qrf completes the acquisition of the State Archives in Bruges

Qrf completes the acquisition of the State Archives in Bruges

Qrf reached an agreement with Leasinvest Real Estate Comm. VA. to acquire the State Archives Bruges through the acquisition of 100% of the shares in RAB Invest NV. Today the parties signed an agreement whereby the transfer was finalized on the basis of a gross property value of 20.64 MEUR.

With this acquisition, Qrf takes a first important step in diversifying its real estate portfolio towards a more balanced portfolio with a focus on quality consumer oriented real estate in the main central cities of Belgium and the Netherlands.

The annual rental income amounts to 1.4 MEUR (11,5% of the expected contractual rents at the end of December 2020). The lease will run until mid-2037 without any early termination options.

ABOUT THE STATE ARCHIVES BRUGES

In 2012, the new State Archives in Bruges, with space for 29 running kilome-ters of archive, was completed. The federal government, represented by the Buildings Agency, has chosen this project on the basis of the original and relevant architecture by Salens Architects.

The complex comprises 2 buildings, including 1 new construction and 1 renovation (previously used by the Red Cross), connected by a copper pedestrian bridge on the 1st floor. In addition to the public areas of ± 2,215 m², including a reading room and a non-public archive space, we also find offices (600 m²), an auditorium and meeting rooms on the ground floor. The archive of 2,900 m² is mainly located on the 1st floor.

Caution regarding forward-looking statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements about plans, objectives, expecta-tions and intentions of Qrf. Readers are cautioned that such forward-looking statements involve known and unknown risks and are subject to significant business, economic and competitive uncertainties, many of which are beyond Qrf's control. If one or more of these risks or uncertainties should arise or if the basic assumptions used prove incorrect, the final results may deviate significantly from the predetermined expected, estimated or extrapolated results. As a result, Qrf does not assume any responsibility for the accuracy of these forecasts.

For more information:

William Vanmoerkerke	Tom Schockaert
CEO	CFO
[e-mail]	[e-mail]
About Qrf:

Qrf is a Belgian public regulated real estate company (RREC or BE-REIT) specializing in the niche of inner-city real estate in Belgium and the Netherlands. More specifically, the company is active in the acquisition, redevelopment and rental of inner-city commercial real estate. On 30 September 2020, the portfolio consists of 37 sites with a total Fair Value of 216 MEUR. Qrf has been listed on Euronext Brussels (QRF: BB) since December 2013. On

30 September, 2020, the market capitalization is 69 MEUR.

www.qrf.be