AntwerpCity
Montea sells two smaller semi-industrial buildings for €3.28 million (BE)
Wednesday 10 February 2010
MONTEA today announced the sale of two semi-industrial buildings located in Schoten (Antwerp region). This transaction reflects the importance Montea attaches to the dynamic management of its property portfolio. Selling price is €3.28 million providing capital gains of €0.23 million compared to the fair value as of 31 December 2009.
To ensure a clear focus on its core activities and the optimalisation of its property portfolio, Montea moved forward with the sale of two semi-industrial buildings located in Schoten of 1,470 m² and 3,605 m², respectively.

Montea realised the two divestments due to the fact that these non-strategic buildings no longer met the standards for its property portfolio, namely, the office/warehouse ratio and the average area per tenant. Furthermore, it permitted realisation of interesting capital gains.

The sale involves an amount of €3.28 million and provides a capital gains of €0.23 million (€0.06 per share) compared to the fair value of the sites of €3.05 million recorded by Montea as of December 31, 2009.

The selling price will bring the gearing ratio to below 56% and simultaneously gives Montea the financial resources to purchase new projects.

Montea Comm. VA is an investment company with fixed capital (Sicafi – SIIC), specialising in logistics and semi-industrial property in Belgium and France.

Source: Montea
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