Sale completion of two office assets, Belgium

24 February 2015

INVISTA EUROPEAN REAL ESTATE TRUST SICAF

(the "Company")

Invista European real estate trust Completes the sale of TWO OFFICE ASSETS in BELGIUM

Invista European Real Estate Trust has completed the sale of two office properties located in Belgium. The sale was achieved at a total price of €5.25 million, representing a discount of 27% compared to the latest valuation of the properties (30 December 2014). After transaction costs, the remaining sale proceeds will be used to repay a portion of the Company's outstanding mezzanine debt.

As described in the Company's Annual Report and Accounts 2014, the current mezzanine facility has a flexible structure that will enable the Company to pursue its non-core disposal plan by providing €85 million of freely prepayable proceeds which can be repaid via sales from an agreed portfolio of assets or from contributions of additional equity. Once the total amount of the loan has been reduced to €135 million and so long as the LTV is below 70%, the ("Step-Down Event"), the margin will be reduced to 470bp over three month EURIBOR. The sale of the Belgian properties demonstrates the Company's active and ongoing commitment to reaching the Step-Down Event, with 10 assets remaining to be sold from the disposal portfolio.

The two properties represented 100% of the Company's investments in Belgium, therefore this disposal also contributes to the further consolidation of the Company's remaining portfolio of investment properties located mainly in France and Germany.