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Inovalis Real Estate Investment Trust Closes Euro14.0 Million Sale of Baldi Property
Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) today announced th...
About this update from Inovalis Reit
[{"type":"text","content":"Inovalis Real Estate Investment Trust Closes €14.0 Million Sale of Baldi Property\n\n\n\n\n\n\n Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) today announced the closing of the sale of the Baldi property for €14.0 million ($22.9 million). The 124,000 square foot office and mixed-use property comprised of four buildings around a central courtyard, is located near the Paris ring road in Saint-Ouen, France.\n \n\n\n “This closing represents our second completed disposition in 2025, together generating approximately $23 million in cash for the REIT,”\n \n said Stéphane Amine, President and Chief Executive Officer of Inovalis REIT.\n \n “These transactions reflect our continued focus on asset recycling and balance sheet strength, while enhancing our financial flexibility to advance the REIT’s strategic priorities.”\n \n\n\n The net proceeds from this transaction after the full repayment of bank debt related to the property and disposition costs is expected to be approximately €11.2 million ($18.3 million) and will be used for capital expenditures relating to the re-positioning and/or re-development of currently owned properties and further reducing the REIT’s indebtedness.\n \n\n\n FORWARD-LOOKING INFORMATION\n \n\n\n\n About Inovalis REIT\n \n\n\n Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 11 assets. Inovalis REIT acquires (indirectly) real estate properties via CanCorpEurope, authorized Alternative Investment Fund (AIF) by the CSSF in Luxemburg, and managed by Inovalis S.A.\n \n\n\n About Inovalis Group\n \n\n\n Inovalis S.A. is a French Alternative Investment fund manager, authorized by the French Securities and Markets Authority (AMF) under AIFM laws. Inovalis S.A. and its subsidiaries (Advenis S.A., Advenis REIM) invest in and manage Real Estate Investment Trusts such as Inovalis REIT, open ended funds (SCPI) with stable real estate focus such as Eurovalys (for Germany) and Elialys (Southern Europe), Private Thematic Funds raised with Inovalis partners to invest in defined real estate strategies and direct Co-investments on specific assets\n \n\n Inovali...