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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Invista Euro. | LSE:IERE | London | Ordinary Share | LU0273211432 | ORD EUR0.10 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.30 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jul 2019 to Jul 2024
TIDMIERE
RNS Number : 8956I
Invista European Real Estate Trust
22 June 2011
22 June 2011
Invista European Real Estate Trust SICAF
(the "Company")
INVISTA EUROPEAN REAL ESTATE TRUST SELLS WAREHOUSE ASSET
IN POLAND FOR EUR7.0 MILLION
Invista European Real Estate Trust has completed the sale of a 16,010 sqm warehouse property in Grodzisk, Poland to NGBI Private Equity Limited for a total consideration of EUR7.0 million. The price reflects a 2.9% premium to the Company's 31 March 2011 independent property valuation.
Further to this transaction and as referred to in the Company's Half Year results on 26 May 2011, the Company has also exchanged contracts to sell EUR27 million of properties.
The net proceeds from the sale will be used to reduce borrowings and debt service costs, further de-leveraging the Company.
Tony Smedley, Head of Continental European Funds at Invista Real Estate Investment Management, commented:
"This disposal is in line with our strategy to realise non-core investments and increase the Company's focus on core Western European markets, particularly France and Germany where the portfolio is mainly located. The completion of asset management initiatives enabled the sale to be completed at a premium to the prevailing valuation and facilitates further de-leveraging of the Company."
- ends -
For further information, please contact:
Invista Real Estate
Tony Smedley/Chris Ludlam +44 2071539369
Financial Dynamics
Dido Laurimore/Olivia Goodall +44 207831 3113
Notes to Editors:
About Invista European Real Estate Trust
Invista European Real Estate Trust ("IERET") is domiciled in Luxembourg and listed on the main market of the London Stock Exchange. As at 31 March 2011 IERET had real estate assets valued at EUR509.5 million in seven countries.
The long-term investment objective of IERET is to provide shareholder returns through investing in diversified commercial real estate in Continental Europe with the potential for income and capital growth. The geographical focus is France and Germany due to the relative stability, transparency and liquidity of these markets.
For more information on IERET please visit www.ieret.eu
Issued by Invista Real Estate Investment Management Limited. Registered office, 107, Cheapside, London, EC2V 6DN. Registered in England and Wales. Registered number 04459443. Authorised and regulated by the Financial Services Authority. Ref: INV-768
This information is provided by RNS
The company news service from the London Stock Exchange
END
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