Invista European Real Estate Trust Sale of Office Asset in Belgium (6843D)

TIDMIERE

RNS Number : 6843D

Invista European Real Estate Trust

01 May 2013

1 May 2013

INVISTA EUROPEAN REAL ESTATE TRUST SICAF

(the "Company")

Invista European real estate trust Completes the sale of An office asset in Central Brussels, Belgium

Invista European Real Estate Trust has completed the sale of an office asset located on Rue Royale in central Brussels, Belgium. The sale was achieved at a sale price of EUR7.2 million which represents a 2.4% premium to 31 December 2012 valuation.

The 3,744 sqm office building is fully let to Communauté Française whose lease was recently re-geared on a fixed nine year term following active asset management to improve the asset's liquidity. As a result, a successful sale has been negotiated on terms that include a sharing of deferred tax liabilities with the purchaser, which has enabled the Company to repay EUR5.0 million in outstanding debt and retain EUR1.4 million in cash proceeds.

 
 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

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