NSI focuses on Dutch core following sale of 28 assets in 2015

Listed Dutch investor NSI has disposed of 28 non-strategic assets in 2015 as it rebalances its portfolio to concentrate on core assets in the Netherlands’ main cities.

The company completed the sale of its non-core portfolio with the disposal of 14 non-performing office assets covering 43,000 m2, as well as another five office properties and two industrial assets.

The total proceeds from the assets sold was €51.3 mln. The company has also been active on the buy side, having purchased eight office properties in October this year, including a portfolio of seven assets from a joint venture between OVG Real Estate and Goldman Sachs for €143.5 mln.

Anne de Jong, CIO of NSI, said: ‘The office assets sold in 2015 had a high vacancy rate of 64% and a relatively low quality ranking. In parallel, we acquired eight high quality office assets in October this year, which significantly increased the share of core properties in our office portfolio and our representation in the Randstad.’