LONDON (Alliance News) - Invista European Real Estate Trust Thursday said it completed the sale of three logistics assets in France for EUR1.1 million, which it will use to repay debt and close the associated swap contract.
The properties, in the city of Amiens, were mainly vacant, and so the sale means the company's overall vacancy rate will fall to 18.9%, from 19.8%. The sale, which is a 50% discount to the end-September valuation of the properties, also reduces its non-recoverable and debt service costs by EUR0.18 million a year.
The company's shares closed up 4.6% at 3.66 pence Thursday.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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