LONDON (Alliance News) - Invista European Real Estate Trust SICAF on Tuesday said it has struck a deal to sell a logistics assets in Girona in Spain for EUR2.95 million.
The sale represents a 3.9% discount to the latest valuation of the property, Invista said, with the proceeds to be used to pay down part of its mezzanine debt.
The property was Invista's last remaining asset in Spain and is in line with its plan to focus its portfolio on the French and German markets.
Shares in Invista dropped heavily on the news, down 41% to 0.4122 pence, the worst performer in the London Main Market.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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