Dutch listed property company Wereldhave has completed the sale of the DiamondView Tower office building in San Diego, US, for $118.5 mln (EUR 92 mln), which is in line with book value.
Dutch listed property company Wereldhave has completed the sale of the DiamondView Tower office building in San Diego, US, for $118.5 mln (EUR 92 mln), which is in line with book value.
The transaction, which reflects the company's strategy to exit the US before end-2013, represents a net exit yield of 5.9%. Proceeds will be used to reduce group debt, Wereldhave said in a statement.
DiamondView, an office building of 28,500 m2, was developed in 2007 and acquired by Wereldhave in 2008.
The transaction follows Wereldhave's disposal earlier this month of two non-core assets in the UK and France for a total of EUR 43 mln.
