Nieuwe Steen Investments said on Monday it has reached agreement with unnamed parties on the acquisition of two commercial properties in the centre of Fribourg, Switzerland, for a total sum of EUR 47mln, excluding costs. The deals are expected to be finalised by mid-2008. The Dutch property fund said the investments, reflecting a 7% yield, will bring its total international portfolio to EUR 93mln. The company's other assets in the country consist of the Silvergate office building in Thalwil, representing an investment of EUR 27mln, and the Herti shopping centre in Zug.
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