LONDON (Alliance News) - Invista European Real Estate Trust SICAF on Tuesday said it has extended the standstill agreement on its mezzanine loan facility from Blackstone Real Estate Debt Strategies to August 25.
The group has now extended the standstill agreement on the loan six times.
Invista is in the process of selling off its property portfolio, having said back in July that it does not expect to return any "material value" to shareholders. The group kicked off the asset sale earlier in July, citing a recent tenant default and the unexpected exercise of lease breaks for its woes.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
