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