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NSI NV buys office building in Amsterdam for €37M

Netherlands-based diversified real estate investment trust NSI NV purchased an office building on Kingsfordweg 43-117 in Amsterdam for €36.8 million, registering a 4.9% gross initial yield and 7.1% reversionary yield.

The asset, spanning 12,700 square meters, includes eight tenancies across 15 floors that have a weighted average unexpired lease term of 3.4 years.

Vacancy rate of the property, as defined by the European Public Real Estate Association, is 24.7%.