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CMS assists Borghese in the sale of a shopping area to Neddex

21/10/2011

CMS Derks Star Busmann assisted Borghese Real Estate in the sale to Neddex of a shopping area in Zaandam which was developed and leased by Borghese. Located in this area are, among others, Kwantum, Karwei, Vrijbuiter, Beter Bed, McDonalds and KFC.

Neddex is purchasing the properties (three in total) as separate items. The first two were transferred on the 15th of October 2011. Neddex is the initiator of 14 property funds, with total fund assets of € 188 million.

Back in 2005, CMS Borghese advised on the purchase of this former Bruynzeel site in Zaandam; at the time the project area was purchased under optimal tax conditions.

A team comprising real estate attorneys Hein van der Meer and Steven van Voorst, junior civil-law notary Jasper Kampherbeek and tax advisers Paul Hulshof and Ettiene Cox compiled the purchase agreements, gave advice on the structure of the real agreement and optimised the entire transaction from a tax point of view and successfully coordinated the sale with the tax authorities. In addition, CMS is responsible for the notarial transfers of title and the mortgage for the fund.

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