New Amsterdam Invest agrees to acquire a portfolio of offices and light industrial premises in Florida for $18.4 million
The real estate company, listed on Euronext Amsterdam, plans to raise the number of its assets to nine with a set of offices and light industrial premises leased at 97.9%. Since the members of its Management Board also sit on the boards of the sellers, the decision was taken solely by the Supervisory Board.
Four buildings in Fort Myers leased to ten tenants
New Amsterdam Invest (NAI) has, through its subsidiaries, entered into an agreement to acquire 100% of the shares of Tamiami Investments 2 Ltd. This limited partnership holds a commercial real estate complex located in Fort Myers, in Lee County, Florida. The completion of the transaction is expected during November 2026.
At that date, NAI will indirectly hold the entire company and therefore its buildings. For now, the transaction remains at the stage of a signed agreement: the effective transfer will only take place at closing.
The asset consists of four buildings constructed in 2008, totalling 174,872 square feet of leasable space in the Gateway area. Two office buildings account for 59,772 square feet, and two “flex” type industrial buildings make up the remaining 115,100 square feet.
As of September 30, 2026, the economic effective date of the acquisition, the complex was leased at 97.9% to ten tenants. Annual rental income, excluding service charges, amounts to $2.336 million.
The two main tenants alone generate $1.279 million of these rents, or more than half of the total. The rental base is therefore concentrated on a small number of tenants, a point that weighs on the reading of the asset's yield.
Once the transaction is completed, the results of Tamiami Investments 2 Ltd. will be attributed to New Amsterdam Invest from October 1, 2026. The acquisition will thus contribute to the 2026 financial statements, and the complex will become the ninth asset in the company's portfolio.
A price that reflects equity and a loan from the seller
The total consideration, excluding transaction fees, amounts to $18.4 million. It breaks down into two elements: $12.9 million corresponding to the equity of Tamiami Investments 2 Ltd. and $5.5 million under a loan granted by the seller, a related party to the transaction.
This amount does not correspond to the value of the building. In the acquisition balance sheet, the real estate asset is recorded at $31.725 million, for a total balance sheet of $32.565 million, which also includes $760 thousand in cash and $80 thousand in receivables and other assets.
On the liabilities side, in addition to equity of $12.937 million and the related-party loan of $5.5 million, there is a bank mortgage loan of $13.465 million and $663 thousand in other debts. The gap between the price and the value of the building is essentially due to this existing mortgage loan.
This bank loan bears interest at the three-year U.S. Treasury rate, published by the Federal Reserve, plus 2.10%, with a floor set at 4.65%. It matures on May 24, 2028.
On the financing side, NAI plans to pay the $18.4 million price at closing by means of a two-year loan granted by external private investors, supplemented by its available cash. The arrangement therefore combines two debts with near maturities: that of the acquisition and the mortgage loan maturing in 2028.
A decision-making process entrusted solely to the Supervisory Board
The members of NAI's Management Board are the same individuals who sit on the management boards of Tamiami Capital Ltd. and Tamiami GP LLC, the two sellers. Each of them is therefore in a situation of conflict of interest, which the company explicitly states in its press release.
The members of the Management Board recused themselves from all deliberations and decisions related to the acquisition. The Supervisory Board commissioned its own independent advisers on legal and tax matters and obtained valuation reports prepared by independent real estate appraisal firms.
This board alone decided to initiate discussions and authorize the transaction. It unanimously approved the acquisition on its current terms, the existing third-party financing, the transaction documentation, as well as the decision-making process and the execution arrangements.
The Supervisory Board stated: “We are developing our portfolio by seizing the opportunities we see in the current market to operate high-quality commercial real estate offering solid returns to our shareholders.”
