Corio NV : Corio sold 10 assets in the Netherlands and 1 in France for â‚¬ 213 m
In line with its strategy, Corio has sold ten retail properties in the
Netherlands to one buyer and one in France for a total amount ofÂ â‚¬ 213.0 m in
January 2014. The disposals concern small to medium sized shopping centres,
mainly outside the metropolitan area. After finalising these disposals, Corio is
ahead of schedule in the execution of the disposal programme in the Netherlands
The relative size (in value) of Favourite Meeting Places in Corio's portfolio
increased from 83% (year end 2012) to around 91% today.
Including these transactions, Corio has sold 26 projects for in total â‚¬ 545 m to
a variety of buyers since the start of the programme.
The consideration for the disposals in January 2014 is 27% below the book value
of 30 June 2013. In executing this, Corio 1) increased the average size of our
shopping centres, 2) increased occupancy rates and 3) pushed leverage down.
The Dutch portfolio of ten assets has been acquired by a joint venture of Mount
Kellett Capital Management and Sectie5 Investments.
Corio will publish our 2013 results after trading hours on 12 February 2014.
Gerard Groener (CEO) and Ben van der Klift (CFO) will present the results via an
audio cast and conference call followed by Q&A on 13 February 2014 at 11.00 CET.
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Source: Corio NV via GlobeNewswire