The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksIERE.L Regulatory News (IERE)

  • There is currently no data for IERE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Sale completion of two office assets, Belgium

24 Feb 2015 07:00

RNS Number : 6588F
Invista European Real Estate Trust
24 February 2015
 



24 February 2015

INVISTA EUROPEAN REAL ESTATE TRUST SICAF

(the "Company")

Invista European real estate trust Completes the sale of TWO OFFICE ASSETS in BELGIUM

 

Invista European Real Estate Trust has completed the sale of two office properties located in Belgium. The sale was achieved at a total price of €5.25 million, representing a discount of 27% compared to the latest valuation of the properties (30 December 2014). After transaction costs, the remaining sale proceeds will be used to repay a portion of the Company's outstanding mezzanine debt.

As described in the Company's Annual Report and Accounts 2014, the current mezzanine facility has a flexible structure that will enable the Company to pursue its non-core disposal plan by providing €85 million of freely prepayable proceeds which can be repaid via sales from an agreed portfolio of assets or from contributions of additional equity. Once the total amount of the loan has been reduced to €135 million and so long as the LTV is below 70%, the ("Step-Down Event"), the margin will be reduced to 470bp over three month EURIBOR. The sale of the Belgian properties demonstrates the Company's active and ongoing commitment to reaching the Step-Down Event, with 10 assets remaining to be sold from the disposal portfolio.

The two properties represented 100% of the Company's investments in Belgium, therefore this disposal also contributes to the further consolidation of the Company's remaining portfolio of investment properties located mainly in France and Germany.

 

 

 

 

 

Ludovic Bernard

Internos Global Investors

020 7355 8800

 

Michael Sandler

Hudson Sandler

020 7796 4133

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISPKNDNCBKDKBB
Date   Source Headline
29th Dec 20152:20 pmRNSResult of EGM
7th Dec 20155:16 pmRNSAdjourned EGM Voluntary Liquidation
7th Dec 20153:25 pmRNSAdjourned EGM Voluntary Liquidation
26th Nov 201511:37 amRNSAdjournment of Extraordinary General Meeting
27th Oct 20154:25 pmRNSNotice of EGM re Voluntary Liquidation
16th Oct 201512:06 pmRNSChange of Registered Office
14th Sep 20154:36 pmRNSHolding(s) in Company
14th Sep 20158:33 amRNSAnnouncement of Enforcement of Security
11th Sep 20154:49 pmRNSExtension of Standstill Agreement
11th Sep 20152:36 pmRNSAnnouncement of Suspension of Shares
11th Sep 20152:30 pmRNSSuspension
11th Sep 20159:12 amRNSExtension of Standstill Agreement
10th Sep 20154:40 pmRNSSecond Price Monitoring Extn
10th Sep 20154:35 pmRNSPrice Monitoring Extension
7th Sep 20152:05 pmRNSHolding(s) in Company
3rd Sep 201511:48 amRNSExtension of Standstill Agreement
25th Aug 20154:57 pmRNSExtension of Standstill Agreement
18th Aug 20157:00 amRNSExtension of Standstill Agreement
12th Aug 20159:43 amRNSBoard Change
11th Aug 20158:59 amRNSExtension of Standstill
28th Jul 20155:20 pmRNSExtension on standstill agreement
20th Jul 201512:08 pmRNSUpdate on Strategic Review
13th Jul 20157:00 amRNSUpdate on Current Trading and Strategic Review
29th Jun 20154:28 pmRNSExtension of Standstill Agreement
23rd Jun 20159:22 amRNSSale Completion of Logistics Asset in Spain
29th May 20154:40 pmRNSSecond Price Monitoring Extn
29th May 20154:35 pmRNSPrice Monitoring Extension
29th May 20153:20 pmRNSHalf Yearly Report
27th May 20154:40 pmRNSSecond Price Monitoring Extn
27th May 20154:35 pmRNSPrice Monitoring Extension
23rd Apr 20154:40 pmRNSSecond Price Monitoring Extn
23rd Apr 20154:35 pmRNSPrice Monitoring Extension
17th Apr 20153:06 pmRNSSale Completion of Office Asset in Germany
27th Mar 20155:44 pmRNSResult of AGM
23rd Mar 20157:00 amRNSAnnouncement of Unaudited NAV and Sale Update
24th Feb 20157:00 amRNSSale completion of two office assets, Belgium
30th Jan 20159:58 amRNSReplacement - Full Year Results
30th Jan 20157:00 amRNSFull Year Results
16th Oct 20141:55 pmRNSDirector Declaration
2nd Sep 20147:00 amRNSAnnouncement of NAV and IMS
22nd Aug 20142:48 pmRNSHolding(s) in Company
21st Aug 201411:59 amRNSHolding(s) in Company
7th Aug 20146:00 pmRNSSale Completion of Logistics Asset, Spain
6th Aug 20147:00 amRNSSENIOR LOAN REFINANCING OF IERET'S DEBT FACILITY
23rd Jun 20147:00 amRNSInterim Preference Share Dividend
6th Jun 20142:12 pmRNSTotal Voting Rights
30th May 20147:00 amRNSHalf Yearly Report
8th May 20142:29 pmRNSHolding(s) in Company
6th May 20141:45 pmRNSHolding(s) in Company
1st May 20147:00 amRNSRefinancing of Debt Facility

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.