Invista European Real Estate Trust Sale of Asset in Lutterberg, Germany (6430O)

TIDMIERE

RNS Number : 6430O

Invista European Real Estate Trust

15 October 2012

15 October 2012

INVISTA EUROPEAN REAL ESTATE TRUST SICAF

(the "Company")

Invista European real estate trust EXCHANGES CONTRACT FOR the sale of the Lutterberg LOGISTICS DISTRIBUTION CENTRE in Germany

Invista European Real Estate Trust has exchanged contracts for the sale of a 53,895 sqm logistics distribution centre in Lutterberg, Germany to UBS Real Estate Kapitalanlagengesellschaft gmbH. As at 30 June 2012, Lutterberg represented 6.9% of the Company's portfolio valuation.

The property, fully let to Deutsche Post Immobilien GmbH ("DPI"), was sold on the basis of a ten year lease with DPI until 2022. The new ten year lease was signed with DPI to be effective on closing. In exchange for extending the lease terms by five years, the Company will provide DPI with a cash incentive payment from the gross sale proceeds. Net sale proceeds will be reduced after taking into account the cash payment, sale costs, holdbacks and deferred tax liabilities crystallised by the sale. Completion, which is subject to certain conditions precedent, is expected to take place before the end of 2012.

The Company's current strategy is to realise its existing property portfolio and this disposal of one of the top ten assets is a further step in implementing the strategy. The proceeds will be used to reduce the Company's senior loan facility with Bank of Scotland.

Ludovic Bernard

   Internos Real 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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