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DIM Vastgoed Explores Portfolio Sale

ROTTERDAM, NETHERLANDS-The locally headquartered company is studying what kind of premium it could obtain for its 19 shopping centers in the US.

By Brian K. Miller | Updated on January 09, 2007

(For more retail coverage, click GlobeSt.com/RETAIL.)

ROTTERDAM, NETHERLANDS-DIM Vastgoed is exploring the possible sale of its entire real estate portfolio, which consists of 19 shopping centers in the US. The locally headquartered company’s executives are acting on the belief that it may be able to obtain proceeds per share that is higher than the current net asset value of the company, which at the end of November was $20.86 per share or $167 million.

In its announcement, DIM Vastgoed says it will retain an independent consultant that will “sound out the interest of selected parties.” If the outcome of the investigation indicates a sales price exceeding the net asset value and is otherwise positive, the company’s executive and supervisory boards will submit the sale of the fund’s portfolio for the approval of shareholders at an upcoming general meeting.

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