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Rubicon Pays $156M for Nike HQ

AMSTERDAM-Rubicon Europe Trust makes its second acquisition this month with the Euro 90.4-million ($156 million) purchase of Nike's European headquarters.

By Anita Howarth | Updated on July 19, 2006

(To read more on the debt and equity markets, click here.)

AMSTERDAM-Rubicon Europe Trust has bought Nike’s European head office, in Holland, for euro 90.4 million ($156 million) in a debt-funded deal that will lift its gearing level to 60%. The asset, which is located in Hilversum, 30km southeast of Amsterdam, is fully leased by Nike for its headquarters for Europe, the Middle East and Africa.

This is the second acquisition this month for Rubicon Europe, and it adds 31,539 sm and five buildings to its portfolio. Last week, the REIT paid euro 145 million ($181 million) for two Belgian property companies that plan to develop five office buildings in a project known as Hermes Plaza, in Brussels. Precommitments have already been secured from Hewlett-Packard and Honeywell.

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