Nieuwe Steen Investments sells 56 Swiss apartments (CH)

Nieuwe Steen Investments NV (NSI) sold 56 apartments located above the Pérolles Centre shopping center in the Swiss town of Fribourg. The sales volume amounts to CHF 13.9 million (€9.4 million).

NSI decided to specialize in retail in Switzerland. The portfolio, currently valued at approximately €100 million, will grow to a voluime of €300 million to €400 million. In order to realize this growth, NSI established its own Swiss management organization in 2009.

The 56 apartments are located over the Pérolles Centre shopping center (8,000 m²) do not belong to NSI's core activities and therefore NSI sold these to a Swiss private investor. The sales price of the apartments was above book value.

Source: NSI

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