Investa Office Fund
(ASX:IOF) has inked a deal to divest its 50 per cent interest in Bastion Tower, located in Brussels, for about $83 million.
The real estate investment trust says the sale price is broadly inline with the valuation of about $83.3 million and the company expects to gain proceeds of about $23 million.
Investa has described the sale as an important strategic milestone as it completes the company’s exit from offshore markets.
Investa now plans to reinvest proceeds into acquisitions to further leverage its position in Australia’s CBD markets.
The sale is expected to settle in February 2015.
Investa Office Fund reported a net profit of $183.6 million in the 2014 financial year.
