LONDON (Alliance News) - Invista European Real Estate SICAF on Thursday said its standstill agreement on its mezzanine loan facility from Blackstone Real Estate Debt Strategies has been extended again.
Invista said the standstill has been extended to September 10, the eighth time the agreement has been extended.
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.
Shares in Invista were up 55% to 0.466 pence on Thursday, the London market's best performer.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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