JLL Advises Sale of The Muse Office Development in Brussels' European District to European Family Office

JLL has advised on the sale of the company owning The Muse, a newly developed office building located in Brussels' European District, to a European family office, the firm announced June 10. The asset — approximately 10,450 square meters in size and fully leased to the European Defence Agency under a 15-year usufruct agreement — is being described by JLL as a benchmark transaction for the Belgian investment market.

The seller was Immobel. Financial terms of the transaction were not disclosed.

Office Real Estate Deal Signals Return of Core Capital

JLL framed the transaction as a signal that prime, long-income office real estate with strong ESG credentials continues to attract international capital. "This transaction sets a new benchmark for the Belgian investment market and sends a strong signal: prime, ESG-compliant, long-income core product with a AAA covenant continues to attract international capital, even in a selective environment," JLL stated in its announcement. "It sets the tone for what we expect to be a more active 2026 for Belgian investment markets."

The deal was led by JLL's Capital Markets BeLux team, with support from EMEA colleagues. Vincent Van Brée and Valérie de Laminne are credited as authors of the firm's announcement.

Asset Profile: ESG Credentials and Institutional Tenancy

The Muse targets BREEAM Outstanding, PEB A, EU Taxonomy alignment, and WELL Platinum certification, according to JLL's announcement. The building's single tenant, the European Defence Agency, occupies the property under a 15-year usufruct agreement. JLL characterizes the income profile as "long-income core" with a AAA-quality tenant covenant.

Brussels' European District

The European District is the submarket in which The Muse is located, according to the source announcement. No further submarket analysis is provided in the source materials.

Family Office Capital in the BeLux Market

The buyer is identified only as a European family office. No further details about the buyer were disclosed in JLL's announcement.

The Muse transaction is not the only recent deal in the BeLux market where JLL's Capital Markets team has been active. The firm also recently advised on the off-market sale of a newly delivered B&B hotel in Luxembourg's Cloche d'Or district — a 150-room hospitality asset described by JLL as a cornerstone property in that mixed-use district. JLL has additionally published market dynamics reports covering Belgium's industrial and retail capital markets for the first quarter of 2026.

Market Outlook

JLL's statement that the deal "sets the tone" for a more active 2026 investment environment reflects the firm's own characterization of the transaction's significance for the Belgian market. No independent market data is cited in the source announcement.

JLL (NYSE: JLL) is a global commercial real estate and investment management firm with annual revenue of $20.8 billion and operations in over 80 countries, employing more than 106,000 people.

Sources: JLL BeLux Newsroom, June 10, 2026