REG - Schroder Euro Real - Sale of Seville shopping centre interest

Schroder European Real Estate Investment TrustAnnouncement

03/02/2025 07:00

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RNS Number : 5211V  Schroder Eur Real Est Inv Trust PLC  03 February 2025

3 February 2025

 

SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC

("SEREIT" or the "Company" and, together with its subsidiaries, the "Group")

 

Sale of Seville shopping centre interest reduces portfolio gearing to 21%

 

Schroder European Real Estate Investment Trust Plc, the Company investing in
European growth cities, has announced the sale of its 50% interest in the
Metromar Joint Venture, which owns a shopping centre in Seville, Spain. The
disposal price is in line with the Company's previous recognition of its
interest being nil value, with the outstanding debt transferring to the
purchaser.

 

This sale strengthens the Company's balance sheet by reducing its net
loan-to-value (LTV) ratio from 25% to 21%(1).

 

Additionally, the previously announced sale of a grocery anchored retail asset
in Frankfurt for €11.8 million, which is expected to complete on 31 March
2025, along with a repayment of associated bank debt, is expected to further
decrease the net LTV by at least an additional 2%.

 

(1)Based on 31 December 2024 independent valuations.

 

 

-Ends-

 

Enquiries:

Jeff O'Dwyer

Schroder Real Estate Investment Management Limited
           Tel: 020 7658 6000

Natalia de Sousa

Schroder Investment Management Limited
                      Tel: 020 7658 6000

Dido Laurimore/Richard Gotla/Ollie Parsons

FTI Consulting
 
Tel: 020 3727 1000

 

 

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