SCHIPHOL, the Netherlands, Dec. 14, 2015 (GLOBE NEWSWIRE) -- Wereldhave has today successfully completed the sale of the office building "Le Cap" in Saint Denis, Paris. The office building was sold for total net proceeds of [Eur] 50m, which is [Eur] 5.9m or 13.4% above the book value as at December 31, 2014, and [Eur] 3.4m or 7.3% above the book value as at June 30, 2015. It represents a net exit yield of 5.6%.
Net proceeds of the disposal in 2015 of the French portfolio of three office buildings were [Eur] 20.2m in excess of the book-value as at December 31, 2014.
This sale also marks the end of the French offices portfolio. The Management Board wishes to express its gratitude to Michel Janet and the Wereldhave France offices team.
This transaction brings the pro forma LTV at year-end 2015 in the range of 38-39%.
Allez & Associes acted as notary to Wereldhave.