SEB ImmoInvest sells office properties at a profit (DE/IT/BE)

SEB Asset Management has sold two office properties from the SEB ImmoInvest portfolio (ISIN: DE0009802306) at a profit. The total selling price for the properties in Milan and Brussels is approximately €125 million and is higher than the current market values.

The property in Via Dante 15, Milan, generated a performance of 10.9% over the entire holding period since its acquisition in December 1999. The selling price is approximately 88% higher than the investment costs and 5.7% higher than the current market value.

The parties agreed not to disclose the name of the new owner or the selling price.

Befimmo S.C.A., a Belgian REIT, is the buyer of the commercial property in Rue de la Loi 70-74, Brussels. The selling price achieved is approximately 15.5% higher than the investment costs since the property's acquisition in March 2005 and exceeds the most recently appraised market value by around 9%.

Source: SEB Asset Management

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