Brief: Eurocommercial Properties Enters Into Joint Venture With AXA Im - Real Assets

Eurocommercial Properties NV

29/07/2019 07:10

July 29 (Reuters) - EUROCOMMERCIAL PROPERTIES NV  SIPFc.AS :
    * ENTERS INTO JOINT VENTURE WITH AXA IM - REAL ASSETS BY
SELLING
50% OF ITS PARIS SHOPPING CENTRE “PASSAGE DU HAVRE”
    * TRANSACTION IS PART OF THE COMPANY’S ASSET ROTATION
PROGRAMME
    * NET PROCEEDS OF THE PARIS SALE WILL BE USED TO REDUCE
EUROCOMMERCIAL’S DEBT
    * CLOSING IS EXPECTED TO TAKE PLACE IN OCTOBER
    * JUNE 2019 VALUATION OF OUR ENTIRE PROPERTY PORTFOLIO IS
WITHIN
1% OF THAT AT JUNE 2018 - CEO
    * OUR VACANCIES REMAIN UNDER 1% AND RENTAL GROWTH THROUGHOUT
THE
PORTFOLIO ON RENEWALS AND RELETTINGS CONTINUES TO BE STRONG -
CEO

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