Montea has announced the sale of two semi-industrial buildings located in Schoten (Antwerp region). This transaction reflects the importance Montea attaches to the dynamic management of its property portfolio. The selling price is 3.28 million providing capital gains of 0.23 million compared to the fair value as of December 31, 2009.
To ensure a clear focus on its core activities and the optimalization of its property portfolio, Montea moved forward with the sale of two semi-industrial buildings located in Schoten of 1,470 m² and 3,605 m², respectively.
Montea realized the two divestments due to the fact that these non-strategic buildings no longer met the standards for its property portfolio, namely, the office/warehouse ratio and the average area per tenant. Furthermore, it permitted realisation of interesting capital gains.
The sale involves an amount of 3.28 million and provides a capital gains of 0.23 million (0.06 per share) compared to the fair value of the sites of 3.05 million recorded by Montea as of December 31, 2009.
The selling price will bring the gearing ratio to below 56% and simultaneously gives Montea the financial resources to purchase new projects.
Source: Montea
