An unknown buyer entered into a preliminary agreement to acquire 14,530 sqm real estate complex in Milan from COIMA RES S.p.A. SIIQ for €40 million on July 29, 2022. The property, is currently vacant following the release, in May 2022, of the premises by the tenant BNL, part of the BNP Paribas Group. With the sale of property, COIMA RES's pro-forma net LTV as at June 30, 2022 would decrease to 29.9% (from 33.9%), while pro-forma consolidated cash and cash equivalents would increase to approximately €92.5 million (from €70.7 million).