17 November
2016
AXA Property Trust Limited
Completion of Sale
The Board of AXA Property Trust Limited is pleased to confirm
that the Company, together with its joint venture partner, has
completed the sale of the property at Agnadello, Italy. The sales price of €23.2 million (at
joint-venture level) reflects a discount of 1.3% below the asset’s
independent valuation as at 30 September
2016. Net sales proceeds in respect of the Company’s 50%
ownership are approximately €11.46 million after allowing for
transaction expenses and associated disposal costs.
The Company will now use a combination of net sales proceeds and
existing cash reserves to fully repay its outstanding debt Facility
of €11.48 million with Crédit Agricole-CIB prior to the maturity
date of 31st December
2016.
Further updates on the Company’s sales programme will be
provided in due course.
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
Corporate 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