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In line with its strategy, Corio has sold four retail properties in France for a total amount of € 104.0 m in December 2013 to one buyer. The disposals concern Quais d'Ivry in Paris (GLA 32,500 m2), La Grande Porte in Montreuil (GLA 6,200 m2), La Mayenne in Laval (GLA 7,200 m2) and Galerie de L'Espace du Palais in Rouen (GLA 9,400 m2). The selling price is approximately 6% below the book value of 30 June 2013. All disposals are still subject to the standard pre-emption rights of six weeks of local municipalities.
Including this transaction, Corio has sold 15 projects for in total € 332 m in 2013. The disposals fit within Corio's strategy to increase its focus on its core centres and to lower leverage.
Source : Company
Source : Company