Real estate certificates (A-M)

Real estate certificates (A-M)

Real estate certificates and real estate bevaks

KBC Real Estate is a leading market player in converting real estate assets, or even entire real estate portfolios, into real estate certificates or real estate sicafis (“vastgoedbevak”).

Real estate certificates

Real estate certificates are debt claims, which may or may not be listed on an exchange, that offer a variable rate of interest. They entitle holders to beneficial ownership of real estate: i.e. the net income derived from the buildings and any proceeds when they are sold. Part of the annual coupon qualifies as redemption of principal, so it is exempt from withholding tax. The other part, the interest component, is subject to 30% withholding tax. Property risk exposure is generally concentrated on a single building.

Click on the real estate certificate below to find out more. There you can find the prospectus, the financial calendar and the financial notices of the real estate certificate, issued by the named limited liability company. Some of the information is only available in Dutch and French.

Certificates (A-M)








Immo Mechelen City Center (MCC)


Marcel Thirylaan*

(* Liquidated/Vereffend/Liquidé)

The annual reports, the financial reports for the half year and other information can be delivered electronically. Looking for other information about one of these real estate certificates? Please contact your relationship manager.

Real estate bevaks

A closed-ended real estate fund under Belgian law, or bevak, is a regulated investment company with a fixed number of shares. Its object is to use the capital it raises through a public issue to invest directly or indirectly in real estate. Its shares must be listed and traded on an exchange. The property risk taken must be spread: bevaks can only invest 20% of their total assets in a single building, a single site or a single tenant. For more information, please contact your relationship manager.

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