M&A Activity • Sep 26, 2013
M&A Activity
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Kersenboogerd in Hoorn and Overwhere in Purmerend sold
Hoofddorp, 26 September 2013 – NSI has sold two Dutch retail assets for a total value of €26.2 million. The disposal of local shopping centres Kersenboogerd in Hoorn (6,700 sqm) and Overwhere in Purmerend (5,600 sqm) fits NSI's strategy to divest assets of which the value potential has been optimised under its management. The proceeds of the divestments will be used to redeem debt.
Johan Buijs, CEO of NSI comments: "Selling properties that achieved the value potential under our management is part of our strategy. In the case of these shopping centres, we have optimised the mix of branches and type of retailers, and both centres have been consistently fully let."
The assets have been sold slightly below book value as per 30 June 2013. The disposed assets generated an annual gross rental income of €2.1 million.
NSI offers tenants sustainable accommodation that entitles them to run their businesses successfully over the long term, so that institutional and individual investors are offered a rising return on their invested assets. NSI invests in office and retail properties at prime business locations in the Netherlands and Belgium. NSI is a listed closed-end property investment company with variable capital and manages assets of approximately € 2 billion.
For more information, please contact: NSI N.V., Eva Lindner T: +31 (0)20 76 30 300 E: [email protected] / W: www.nsi.nl
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