18th Feb 2014 13:32
LONDON (Alliance News) - Invista European Real Estate Trust SICAF Tuesday said it has completed the sale of a logistics asset in the Czech Republic.
The real estate company said the sale was achieved at a 3.9% discount to the latest valuation of the property at EUR6.5 million.
Invista said the proceeds were used to repay roughly EUR6.2 million in outstanding debt.
The company said the asset represented 100% of its investment holdings in the Czech Republic and so the transaction reduces non-recoverable, debt service and associated corporate costs by an estimated EUR600,000 per year.
Invista shares were down 7.5% to 1.41 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
IERE.L