VastNed Retail has signed a letter of intent regarding the sale of the German portfolio at a price of EUR 203.25 million. The potential buyer has commenced a due diligence investigation.
Today VastNed Retail has signed a letter of intent regarding the sale of the German portfolio. The price has been set at EUR 203.25 million, taking into account that VastNed Retail guarantees the present vacancy and related costs for a five year period. This guarantee is presently valued at EUR 2.2 million per annum.
The potential buyer has commenced a due diligence and technical survey investigation. The buyer is expected to finalise the investigation no later than the end of May 2004.
Source: VastNed
