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Intervest buys two logistic sites in Belgium for EUR 35.8m.

(SeeNews) - Jul 4, 2011 - Belgian property firm Intervest Offices NV (EBR:INTO) has acquired two logistic sites in Flanders for a total of EUR 35.8 million (USD 52m).

The sites in Belgium's Dutch-speaking northern region are located on the important logistic corridor Antwerp - Limbourg - Liege and are easyly accessible by the E313 and the E314 motorways, the company said on Friday.

The building in Oevel is entirely let to UTI Belgium (87%) till 2017 and to Berry Plastics (13%) till 2013. The acquisition value of this logistic site amounts to some EUR 21.5 million. Intervest Offices expects rental income of some EUR 1.5 million on an annual basis.

The second site, the industrial zone Europark in Houthalen, is expected to generate rental income of some EUR 1.1 million per year.

(EUR 1 = USD 1.452)
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Publication:ADP News Belgium
Geographic Code:4EUBL
Date:Jul 4, 2011
Words:139
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