Covivio: sells offices and shopping centres in Italy
(CercleFinance.com) - Covivio announces that, in Q4 2019, it has signed sale agreements for six office buildings and three shopping centres in Italy, for a total of 162 million euros, thereby continuing to improve the quality of its assets.
The portfolio of office buildings, sold for 108.5 million with a net yield of 3.3%, represents a total surface area of 56,000 m2. The three shopping centres, which have a total surface area of 67,500 m2, were sold for 53 million euros.
Taking into account sales that have been guaranteed in the first half, total real estate sales in Italy amounted to 445 million euros in 2019. Covivio is thus moving towards its strategic targets, namely the disposal of non-strategic assets, along with a refocusing on Milan in Italy.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The portfolio of office buildings, sold for 108.5 million with a net yield of 3.3%, represents a total surface area of 56,000 m2. The three shopping centres, which have a total surface area of 67,500 m2, were sold for 53 million euros.
Taking into account sales that have been guaranteed in the first half, total real estate sales in Italy amounted to 445 million euros in 2019. Covivio is thus moving towards its strategic targets, namely the disposal of non-strategic assets, along with a refocusing on Milan in Italy.
Copyright (c) 2020 CercleFinance.com. All rights reserved.