M.R.M : MRM: Sale of five out-of-town retail properties for a total of ?14.2 million
02/08/2012 | 02:05am Sale of five out-of-town retail properties for a total of ?14.2 million
Paris, 8 February 2012: MRM (Euronext ISIN code FR00000601960060196), a mixed real estate investment company specialising in retail and office property, announced today the sale of five out-of-town retail properties for a total of ?14.2 million excluding transfer taxes.
MRM signed the definitive agreement to sell five properties representing a total of 5,580 sqm. The properties are fully let to national retailers (Interior's, Poltronesofa and 4 Pieds, Besson, King Jouet, Dekra and Carglass) and located in the Paris region at Montigny-les-Cormeilles and Pierrelaye (95), Coignières (78), Claye Souilly (77) and Créteil (94).
Following repayment of the debt attached to these properties, net cash resulting from this transaction will contribute to the financing of MRM's planned investments.
The buyer is Pierre Plus, a SCPI real estate investment trust managed by asset management company Ciloger, a subsidiary of the Caisse d'Epargne Group and La Banque Postale.
MRM was advised by Cushman & Wakefield and Savills, as well as by notary firm Didier Lasaygues. The buyer was advised by notary firm Olaf Dechin.
Calendar
2011 revenues and results will be published on 28 February 2012 before the market opens and will be presented during an information meeting to be held on the same day.
About MRM
A listed real estate investment company, MRM owns a mixed portfolio of office and retail properties comprising both stabilised assets and value-added opportunities. Its portfolio has been built up gradually since the second half of 2007 with the contribution of properties from Dynamique Bureaux and Commerces Rendement, two investment companies created and managed by CBRE Global Investors, and acquisitions carried out directly by its subsidiaries. MRM's real estate operations are managed by CBRE Global Investors. MRM is listed in Compartment C of Euronext Paris (Bloomberg code: MRM:FP - Reuters code: MRM.PA).
For more information, contact:
MRM
65/67, avenue des Champs-Elysées
75008 Paris
France
T +33 (0)1 58 62 55 55
relation_finances@mrminvest.com | Isabelle Laurent
DDB Financial
55, rue d'Amsterdam
75008 Paris
France
T +33 (0)1 53 32 61 51
isabelle.laurent@ddbfinancial.fr |
Website: www.mrminvest.com
MRM 20120208 Press release (PDF):
http://hugin.info/143389/R/1583326/494968.pdf
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Source: MRM via Thomson Reuters ONE
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