In line with its strategy, Corio has sold four retail properties in France for a total amount of € 104.0 million 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 million in 2013. The disposals fit within Corio’s strategy to increase its focus on its core centers and to lower leverage.
Source: Corio
