AXA Property Trust Update on Asset Disposals & the Company's Debt Facility
June 16 2016 - 10:12AM
UK Regulatory
TIDMAPT
16 June 2016
AXA Property Trust Limited
Update on Asset Disposals and the Company's Debt Facility
The Board of AXA Property Trust Limited is pleased to announce that the Company
has contracted for the sale of the property at Dasing, Germany at a sales price
in line with valuation. Completion is due in August 2016. Sales proceeds after
disposal costs will be used to continue to pay down the Company's outstanding
debt facility.
Following the sale of Dasing the Company's remaining assets will comprise a
retail investment in Germany, a logistics property close to Milan and a cinema
close to Bergamo. Both Italian assets are being marketed, whilst asset
management initiatives to prepare the German asset for sale are being
finalised. The Manager remains focussed on delivering disposals of the
remaining assets in a timely manner and updates on further sales will be
provided as they are agreed under contract.
The Company is in advanced discussions with its lender, CACIB, to provide a
short term extension to its debt facility with effect from 1st July 2016 and
will issue a further announcement once this has concluded.
Enquiries:
All Enquiries:
Investment Manager
AXA Investment Managers UK Limited
Broker Services
7 Newgate Street
London EC1A 7NX
Tel: +44 (0)20 7003 2345
Email: broker.services@axa-im.com
Sponsor and Broker
Stifel Nicolaus Europe Limited
150 Cheapside
London EC2V 6ET
Tel: +44 (0)20 7710 7600
Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
GY1 3QL
Tel: +44 (0)1481 745324
END
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