The Board of AXA Property Trust Limited is pleased to announce that the company, together with its joint venture partner, has entered into a binding contract for the sale of the property at Agnadello, Italy. The sales price reflects a discount of 1.3% below the asset’s independent valuation as at 30 September 2016. Completion is due by 30 November 2016 and net sales proceeds will be used to pay down the Company’s outstanding debt Facility with Crédit Agricole CIB.
Following the sale of Agnadello, the Company will own two remaining assets, located in Germany and Italy respectively. Further updates on the sales programme will be provided in due course.
APT : Axa Property sells Agnadello property