11th Sep 2015 08:19
LONDON (Alliance News) - Invista European Real Estate SICAF on Friday said its standstill agreement on its mezzanine loan facility from Blackstone Real Estate Debt Strategies has been extended again.
The standstill has been extended to Friday, having last week been extended for the eighth time to Thursday. This is the ninth extension.
Invista is in the process of selling off its property portfolio, having said back in July that it does not expect to return any "material value" to shareholders. The group kicked off the asset sale earlier in July, citing a recent tenant default and the unexpected exercise of lease breaks.
Shares in the fund were up 59% to 0.399 pence on Friday, the best percentage gainer in the London market.
By Sam Unsted; [email protected]; @SamUAtAlliance
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