1st Aug 2011 07:00
1 August 2011
Invista European Real Estate Trust SICAF
(the "Company")
INVISTA EUROPEAN REAL ESTATE TRUST COMPLETES €6.55 MILLION SALE OF FRENCH WAREHOUSE ASSET
Invista European Real Estate Trust has completed the sale of a 13,000 sqm logistics warehouse property in Vitrolles, near Marseille, France, to a private investor for a total consideration of €6.55 million.
The sale followed the completion of a key asset management initiative to extend the lease with the existing tenant to a nine year term with a break after six years.
The sale price reflects a Net Initial Yield of 7.9% and a 2.0% premium to the Company's 31 March 2011 independent property valuation.
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For further information, please contact:
Invista Real Estate
Tony Smedley/Chris Ludlam +44 20 7153 9369
Financial Dynamics
Dido Laurimore/Olivia Goodall +44 20 7831 3113
Related Shares:
IERE.L