Shares issued: Class A - 100,360,559 Class B - 31,514,782
HALIFAX, June 7 /CNW/ - (TSX: HII.A & HII.B and AEX: HII ) - Homburg
Invest Inc. ("Homburg Invest" or the "Company") announces that it has
completed on June 5, 2007 the acquisition of three connected office buildings
in The Netherlands.
The transaction was completed at an aggregate cost of EURO 39,000,000
(approximately CDN $55.81 million at an exchange rate of 1.431) including
closing costs and was completed by way of mortgage financing of approximately
EURO 30,000,000 (approximately CDN $42.93 million) and cash of approximately
EURO 9,000,000 (approximately CDN $12.88 million).
The property, located at Keesomlaan 6-10, Amstelveen, is situated on
115,110 square feet of land (10,694 square metres) in the Kronenburg Business
Park. The total leaseable area is 133,215 square feet (12,376 square metres).
Located in a park-like setting, the three connected office buildings were
constructed in the late 1990's. Phase I is six stories and Phase II and III
are five and four stories respectively. The basement garage provides parking
for 197 automobiles. Built to high standards, the buildings have been well
maintained with no deferred maintenance. The buildings are under lease to two
tenants. Deloitte, Chartered Accountants lease 95,788 square feet
(8,899 square metres) to 2010 and LTP Holding B.V. lease 36,350 square feet
(3,377 square metres) to 2016.
Homburg Invest Inc., with its head office in Halifax, Nova Scotia, owns
and develops a diversified portfolio of quality real estate including office,
retail, industrial and residential apartment and townhouse properties
throughout Canada, the United States and Western Europe.
Information and statements in this document, other than historical
information, should be considered forward-looking and reflect management's
current views of future events and financial performance that involve a number
of risks and uncertainties. Factors that could cause actual results to differ
materially include, but are not limited to, the following: general economic
conditions and developments within the real estate industry, competition and
the management of growth.
Toronto Stock Exchange has neither approved nor disapproved of the
information contained herein.
For further information:
For further information: Mr. Richard Homburg, Chairman and CEO, (902)
468-3395; Mr. Michael Arnold, CA, Vice Chairman, (902) 566-1153; For
information on Homburg Invest Inc., visit our website at