Soci茅t茅 de la Tour Eiffel (STE) has announced the disposal of 鈧�64 mln worth of French regional assets as part of its strategy to focus on Paris offices.
Soci茅t茅 de la Tour Eiffel (STE) has announced the disposal of 鈧�64 mln worth of French regional assets as part of its strategy to focus on Paris offices.
STE has sold three assets consisting of the 36,000 m2 multi-let business park in V茅nissieux near Lyon, the Cadera business park offering 12,200 m2 in M茅rignac near Bordeaux and the Polytech, a 5,100 m2 office building in Grenoble.
Since the outset of the year, STE has sold a total of 鈧�157 mln of assets at appraisal value, reducing its loan to value from 56% at year-end 2012 to 48% at present.
The overall disposal programme is now 80% completed with Paris offices accounting for 60% of the portfolio, compared to 49% at year-end 2012.
'These successful transactions signal a new milestone in the company鈥檚 strategic refocusing and
deleveraging,' said Fr茅d茅ric Maman, Chief Operating Officer of STE.
