Hoofddorp, the Netherlands,

NSI sells three retail assets including “In de Boogaard” for €29.3m

NSI N.V. (Euronext: NSI / NL0012365084) - Regulatory news


NSI N.V. has sold three retail assets in three separate transactions for a total amount of €29.3m. The disposal price is in line with the December 2018 book value. The disposals include Sterpassage, part of the “In de Boogaard” shopping centre in Rijswijk, “Hof ter Hage” in The Hague and “Vasco da Gama” in Utrecht. The transfer of the asset in Utrecht has taken place at the end of H1, the transfer of the other two assets is foreseen for H2 2019.

This transaction is in line with NSI’s strategy to focus on offices and to dispose all remaining retail assets. At the end of June NSI has 10 “Other” assets remaining representing 7.6% of the total portfolio value1. The largest retail assets are an interest in “Zuidplein” shopping centre in Rotterdam and “'t Loon” shopping centre in Heerlen.

Anne de Jong, CIO of NSI
These transactions show our continued commitment to sell all our retail assets and underpins our belief that our book values are realistic. We are confident we will see more retail transactions in the second half of the year. 
Anne de Jong, CIO of NSI

In the second quarter NSI has also sold five office assets for a combined disposal price of €19.9m, on average 24% above the December 2018 book value.

About NSI N.V.

NSI N.V. (Euronext: NSI / NL0012365084) is a specialist commercial property investor and the only listed real estate investment trust (REIT) focused on well-located offices in economic growth regions in The Netherlands. The NSI team aims to maximise returns for its shareholders through pro-active management of its investment portfolio, value-add initiatives, and disciplined asset rotation. The portfolio, with a value of over one billion euros, is underpinned by a strong balance sheet, with significant capacity to fund both internal and external growth. By investing in attractive space and a high level of services for its customers, NSI can generate sustainable and growing revenues to support an attractive level of dividends. For more information visit our website: www.nsi.nl.