Nieuwe Steen Investments has announced that Cees Busscher, 56, is joining the company as country manager for the Netherlands from May 1, 2009. Busscher is currently managing director of Dura Vermeer Vastgoed, the property development company of Dura Vermeer Group. At NSI, he will be in charge of the Dutch activities, with an emphasis on asset management, property management and construction and development.
Nieuwe Steen Investments has announced that Cees Busscher, 56, is joining the company as country manager for the Netherlands from May 1, 2009. Busscher is currently managing director of Dura Vermeer Vastgoed, the property development company of Dura Vermeer Group. At NSI, he will be in charge of the Dutch activities, with an emphasis on asset management, property management and construction and development.
Additionally, NSI said it has sold five retail properties to several investors for a total of EUR 16 mln. The properties, consisting of supermarkets in the Dutch towns of Prinsenbeek, Ulvenhout, Eindhoven and Raalte and a shopping centre in Tilburg, produce a rental income of EUR 1.18 mln, reflecting a gross yield of 7.37%. The properties were sold just over the book value at end 2008. The company said that two properties have already been transferred and other two will be transferred at end March.
The disposal is part of NSI's new strategy aimed at selling small, management-intensive properties. The proceeds will be used to reduce debt in the short term and to reinvest in larger properties in Switzerland and in the Netherlands at a later stage.
