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7 December 2012
INVISTA EUROPEAN REAL ESTATE TRUST SICAF
Invista European Real Estate Trust completed the sale of a 53,895 sqm logistics distribution centre in Lutterberg, Germany to an institutional investor on 30 November 2012. As previously announced on 15 October 2012, the Company exchanged contracts for the sale of Lutterberg on 28 September 2012. Completion was subject to certain conditions precedent which have now been finalised.
The asset sale price of €29.5 million reflects a 3.6% discount to 30 June 2012 valuation and is net of a cash incentive payment that was provided to the tenant Deutsche Post Immobilien GmbH ("DPI") to extend the lease for an additional five years. The sale is a further step forward in implementing the Company's realisation strategy and with net proceeds of €1.3 million, the Company will be able to further deleverage the portfolio.
Internos Real Investors 020 7355 8800
Hudson Sandler 020 7796 4133
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