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Investa Office Fund, Continued Exit of Offshore Markets Following Conditional Sale of DOF Investment

Investa Office Fund (‘IOF’ or ‘the Fund’) today announces an important milestone in delivering its strategy of becoming 100% Australian focused after exchanging conditional contracts to sell the Fund’s legacy investment in the Dutch Office Fund (“DOF”) to a consortium of existing DOF investors for €155 million.

Since taking over management of IOF in 2011, Investa has carried IOF’s investment in DOF at a discount to the stated DOF Net Asset Value (‘NAV’) to reflect the illiquid nature of the investment. The book value of DOF at 30 June 2013 was €182.5 million, a 15% discount to the 30 June 2013 DOF NAV. Since June, the DOF NAV has continued to decline and the sale price reflects a discount to the 30 September 2013 DOF NAV of 24%.

Toby Phelps, IOF Fund Manager said: “Following a comprehensive marketing campaign, we’re pleased to have completed the sale of our largest offshore exposure. This is a significant milestone in the delivery of our strategy of having a 100% Australian portfolio. Post this sale the Fund’s last remaining offshore investment, Bastion Tower, will comprise just 3% of the portfolio.

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