Schroder Eur Real Est Inv Trust PLC Sale of Seville shopping centre interest

RNS Number : 5211V

Schroder Eur Real Est Inv Trust PLC

03 February 2025

 

3 February 2025

 

SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC

("SEREIT" or the "Company" and, together with its subsidiaries, the "Group")

 

Sale of Seville shopping centre interest reduces portfolio gearing to 21%

 

Schroder European Real Estate Investment Trust Plc, the Company investing in European growth cities, has announced the sale of its 50% interest in the Metromar Joint Venture, which owns a shopping centre in Seville, Spain. The disposal price is in line with the Company's previous recognition of its interest being nil value, with the outstanding debt transferring to the purchaser.

 

This sale strengthens the Company's balance sheet by reducing its net loan-to-value (LTV) ratio from 25% to 21%¹.

 

Additionally, the previously announced sale of a grocery anchored retail asset in Frankfurt for €11.8 million, which is expected to complete on 31 March 2025, along with a repayment of associated bank debt, is expected to further decrease the net LTV by at least an additional 2%.

 

¹​Based on 31 December 2024 independent valuations.

 

 

-Ends-

 

Enquiries:

Jeff O'Dwyer

Schroder Real Estate Investment Management Limited                              Tel: [phone]

Natalia de Sousa

Schroder Investment Management Limited                                                 Tel: [phone]

Dido Laurimore/Richard Gotla/Ollie Parsons

FTI Consulting                                                                                              Tel: [phone]

 

 

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