Corio sold two French assets for a total amount of € 26.5 million to two buyers. The disposals concern the office ‘Kupka C’ located in Paris La Défense (sold to ERAFP) and an industrial building situated in Brétigny, a Southern Paris region (sold to a private buyer).
The properties have a total GLA of respectively 13,000 m² and 19,400 m². Corio owned 40% of the ‘Kupka C’ office building Joint Venture. On average, the properties have been sold 11.8% above the book value of year-end 2013. The premium to book value of the disposal price relates to 40% of the property value of ‘Kupka C’ and 100% of the property value of Brétigny.
Including this transaction, Corio has sold 31 projects for in total € 638 mln to a variety of buyers since the start of the disposal program in the beginning of 2013.
Source: Corio
