7 Aug 2014 18:00
07 August 2014
INVISTA EUROPEAN REAL ESTATE TRUST SICAF
(the "Company")
Invista European real estate trust Completes the sale of A LOGISTICS asset in ALOVERA, SPAIN
Invista European Real Estate Trust has completed the sale of a logistics asset located in Alovera, Spain. The sale was achieved at a price that was in line with the latest valuation of the property, at €12.2 million. €7 million of the sale proceeds have been set aside in accordance with the Company's business plan to fund ongoing capital expenditure projects elsewhere in the Company's portfolio of real estate assets. The remaining proceeds will largely be used to repay the Company's outstanding debt.
The sale exemplifies the Company's active and ongoing commitment to deleveraging its portfolio: this property is one of the assets previously determined as being ready for sale, as announced in the latest Annual Report of the Company.
Ludovic Bernard | |
Internos Global Investors | 020 7355 8800 |
Michael Sandler | |
Hudson Sandler | 020 7796 4133 |