Société de la Tour Eiffel (STE) has divested EUR 50 mln of non-strategic assets as part of its goal of focusing on modern suburban offices and deleveraging its balance sheet.
Société de la Tour Eiffel (STE) has divested EUR 50 mln of non-strategic assets as part of its goal of focusing on modern suburban offices and deleveraging its balance sheet.
The Paris-listed company has sold three provincial medical clinics for close to EUR 40 mln to BNP Paribas REIM France's Health Property Fund 1. In addition, STE has divested a provincial office complex located in the Parc de la Rivière, Nantes, for just over EUR 7 mln. The buyer was a private investor.
'The early achievement of our disposal objectives for the year at most acceptable levels underlines the company's portfolio quality and NAV validity and encourages us to remain alert to further opportunistic sales of such non-strategic assets,' said STE managing director Robert Waterland.
STE owns close to EUR 1 bn of assets spread evenly between the Paris area and the regions.
