THE HAGUE, The Netherlands, Oct. 26, 2012 (GLOBE NEWSWIRE) -- On October 26, 2012, Wereldhave completed the sale of the DiamondView Tower office building in San Diego, United States, for USD 118,5 mln, which is in line with book value. The transaction represents a net exit yield of 5.9%. The disposal will lead to a release of a USD 5 mln tax liability. Proceeds will be used to reduce group debt. The disposal of DiamondView was initiated before Wereldhave adjusted its exit strategy for the US. The US portfolio will be sold in one go or in four pre-defined sub-pools. The target is to exit the US before the end of 2013.
DiamondView is an office building of approximately 28,500 m², net lettable area. The building was developed in 2007 and acquired by Wereldhave in 2008.