Homburg Invest to Buy Four Net Leased Properties for $163 Million

Homburg Invest Web Site - November 24, 2005

Homburg Invest has announced the planned purchase of four large commercial properties in The Netherlands in the first quarter of 2006, subject to the finalization of its due diligence. The original agreement in principle on all of this portfolio was first announced on June 23, 2005 and closing on this transaction was expected to take place o n November 15, 2005.

The four commercial properties include the KPN Telecom Head Office in Groningen, the Phillips Lighting Headquarters and Research facilities in Eindhoven and two David Lloyd facilities in Rotterdam. All four properties are leased by world class, triple A public companies on a long -term lease basis. The aggregate cost to Homburg Invest for these properties will amount to approximately CAD $196 million (EUR €140 million or $163 million) and will be financed by assumption of existing debt of CAD $147 million (EUR €105 million), and shares of Homburg Invest (subject to TSX approval) and cash totalling CAD $49 million (EUR €35 million). Sphere: Related Content