The office, logistics and showroom center, leased to a European retailer, is near Schiphol Airport.
Euro Trade Real Estate International (YTB) Ltd. (TASE:ERTR.B1) has bought a Dutch office, logistics and showroom center for €9.5 million. The 13,000-sq.m. property is in Roelofarendsveen, near Schiphol Airport, on the expressway between Amsterdam and The Hague.
The property’s primary tenant is a European retailer. Net rent is €800,000 a year, linked to the Dutch Consumer Price Index (CPI), giving a return on investment of 8.5%. Euro Trade is negotiating with a European bank for a seven-year non-recourse loan to finance 85% of the purchase price.
Published by Globes [online], Israel business news - www.globes.co.il - on October 7, 2007
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