Amsterdam-listed property company Corio has sold four retail properties in France for €104 mln to one buyer.
Amsterdam-listed property company Corio has sold four retail properties in France for €104 mln to one buyer.
The transaction took place in December 2013 and the buyer was not disclosed.
The assets sold were the 32,500 m2 Quais d’Ivry in Paris; La Grande Porte (6,200 m2 GLA) in Montreuil; La Mayenne (7,200 m2 GLA) in Laval and Galerie de L’Espace du Palais (9,400 m2 GLA) in Rouen.
The sale price was 6% below the book value at 30 June 2013. All disposals are subject to the standard six-week pre-emption rights held by local municipalities.
Including this transaction, Corio has sold 15 projects for a total €332 mln in 2013. The disposals are in line with Corio's strategy to increase its focus on its core centres and to lower its leverage.
