Beni Stabili Siiq is selling two office assets in Paris for a total of EUR 20 mln. The Italian real estate investment trust has signed a preliminary agreement to sell two properties located in Paris' Rue de Grenelle and Rue Saint-Honor茅 to an unnamed investor.
Beni Stabili Siiq is selling two office assets in Paris for a total of EUR 20 mln. The Italian real estate investment trust has signed a preliminary agreement to sell two properties located in Paris' Rue de Grenelle and Rue Saint-Honor茅 to an unnamed investor.
Beni Stabili said in a statement the transaction price compared favourably with a book value and a market value for the assets of just over EUR 19 mln at end-June 2011.
The assets - which are completely debt-free - offer 1,270 m2 of office accommodation and are part of the Prada portfolio.
The closing of the transaction is planned to take place by February 2012.
