Hexagon: property development with PMV capital
Room for business is scarce in fragmented Flanders. The real estate development fund Hexagon Invest therefore buys reconversion projects to redevelop them into business premises, SME parks and homes: good for the economy, people and the environment.
Hexagon Invest cvba is an investment fund launched in 2018 on the initiative of Jelle Vandendriessche (who previously worked at PSR Brownfield Developers and Revive) and Stijn Eyckmans. Hexagon Invest buys reconversion projects and redevelops them into mainly commercial property (notably industrial halls) and, to a lesser extent, residential projects, and then sells them to SME companies, investors and residents. Hexagon’s regional focus is West and East Flanders.
Efficient use of space
PMV took a capital participation of EUR 2.5 million in the fund. Indeed, Hexagon’s projects are largely located within PMV’s fields of action: creating space to do business by revitalising underutilised sites and brownfields and stimulating inner-city developments in pursuit of efficient use of space. Hexagon Invest, which realises small-scale reconversion residential projects in addition to enterprise space, is making funds available to its subsidiaries that will realise the actual property developments. With its investment, PMV aims to leverage 14.8 times the PMV contribution.
Capital participation of PMV
PMV invested €2.5 million in the capital of Hexagon Invest cvba, being 21.7% of the capital. PMV also took a directorship in the company.
The project in numbers
Hexagon is aiming to realise about 12 projects during its six-year lifespan to ensure a healthy spread of risk. The investment period (the period during which the company can make new investment decisions) runs until 31 August 2022. The intended investment volume per project is between EUR 2 and 10 million. A total turnover of around 70 million euros is targeted.
A capital participation from PMV: also for your project?
Find out how a capital participation from PMV might be the solution for financing your project: request the presentation.