SFL has completed the sale of three properties to the Risanamento Group earlier this week. The sales were agreed on 17 June and 9 July, in connection with SFL´s asset disposal program. The total amount of the transaction is € 179 million.
The transaction concerns the properties Ilot François 1er, Paris 8 (approximately 15,000 sq.m.), 7 rue du Cirque, Paris 8 (approximately 1,600 sq.m.) and 17/19 avenue Montaigne, Paris 8 (approximately 6,000 sq.m.).
The approximately €22 million gain on the sale will be exempt from corporate income tax under the SIIC regime.
The transaction, which includes the last mainly residential property in the portfolio, marks the completion of SFL´s strategic refocusing on commercial property.