M&A Activity • Jul 20, 2009
M&A Activity
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HOORN - Nieuwe Steen Investments NV (NSI) sells five properties. This sale concerns two industrial properties, two office buildings and a retail strip. The sales volume amounts to $\epsilon$ 9.95 million.
In September 2008 NSI has started a divestment programme of small, management-intensive properties. The proceeds are used to reduce debt.
During 2008, twelve properties were sold for an amount of $\epsilon$ 32.2 million. During the first half of 2009, thirteen properties have been sold for an amount of $\epsilon$ 32.7 million.
Taking into account the five properties that have been sold in July 2009 for an amount of €9.95, the total proceeds of the divestment programme amount to $€74.8$ million. Just like the properties sold before, these properties were sold at prices above book value. The transfer of the properties took place in the beginning of July. The rental income of the five properties amounted to $\epsilon$ 1.0 million.
Nieuwe Steen 27 Postbus 4145 1620 HC Hoorn Tel: 0229 29 50 50 Fax: 0229 23 13 72 E-mail: [email protected]
Rabobank Hoorn nr. 16.14.17.272
K.v.k. te Hoorn nr. 36.040.044 The divestment programme will be continued throughout 2009.
The transaction involved commercial units in Maastricht, an office building in Breda, a complex of buildings consisting of an office building, a retail strip and six residentials in Den Bosch and two industrials in Leiden and Almere.
In January 2008, NSI purchased a development project regarding an industrial building at the "Gouwe Park" in Moordrecht. On 17 July 2009, NSI took delivery of this new, fully rented property. The purchase price amounted to $\epsilon$ 7.3 million and the rental income is $\epsilon$ 545,000.
NSI will publish the interim report regarding the first half of 2009 on 23 July in stead of the earlier announced 30 July 2009.
Hoorn, 20 July 2009
The Management Board
For more information, please contact: Nieuwe Steen Investments NV Johan Buijs, CEO Tel: +31 229 29 50 50 E-mail: [email protected] internet: www.nsi.nl
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