Vitura Announces the Sale of a Majority Stake in the Passy Kennedy and Office Kennedy Holding Companies
10 Julio 2024 - 12:00AM
Business Wire
Regulatory News:
Vitura (Paris:VTR) today announced the sale of a majority stake
in the companies holding the Passy Kennedy and Office Kennedy
properties to a European asset manager for an amount of
approximately €14 million, including €10 million paid at closing.
Following the transaction, Vitura is to retain a minority stake and
could be entitled to a share of the value created by the
restructured assets.
The sale will help to finance the works plan aimed at
repositioning Passy Kennedy and Office Kennedy as a 34,000 sq.m
top-class property complex offering a broad range of upscale
amenities including food services, conference facilities, a gym as
well as wellness and social areas. The complex will feature a large
space dedicated to low-carbon mobility and will meet the highest
environmental standards.
As part of this operation, new bank financing of €270 million is
arranged by the companies holding the Passy Kennedy and Office
Kennedy properties.
In particular, the operation will enable the repayment of the
€139 million debt incurred on the acquisition of Passy Kennedy,
which was extended to July 15, 2024.
In Vitura’s financial statements, the transaction will result in
a capital loss of around €80 million on the shares of the companies
holding the Passy Kennedy and Office Kennedy assets. The accounting
impact on the Group will be disclosed in the 2024 interim financial
report.
With this transaction, Vitura is fulfilling a threefold
objective: continuing the redevelopment of the Kennedy property
complex, refinancing a short debt maturity and entering into a
partnership with an investor to finance future renovation work.
Unaudited figures.
Investor Calendar: First-half 2024 results, August 1st,
2024
About Vitura
Created in 2006, Vitura is a listed real estate company (“SIIC”)
that invests in prime office properties in Paris and Greater Paris.
The total value of the portfolio was estimated at €1,307 million at
December 31, 2023 (excluding transfer duties).
Thanks to its strong commitment to sustainable development, the
Company's leadership position is recognized by ESG rating agencies.
Vitura has held a GRESB (Global Real Estate Sustainability
Benchmark) 5-star rating since 2014 and has been ranked world
number 1 (Global Sector Leader) in the listed office property
companies category four times. It has also received two Gold Awards
from the European Public Real Estate Association (EPRA) for the
quality and transparency of its financial and non-financial
reporting. Vitura is ISO 14001-certified.
Vitura is a REIT listed on Euronext Paris since 2006, in
compartment B (ISIN: FR0010309096).
Visit our website to find out more: www.vitura.fr/en
Find us on: LinkedIn / X
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version on businesswire.com: https://www.businesswire.com/news/home/20240709750883/en/
Investor relations Charlotte de Laroche info@vitura.fr +33 1 42
25 76 38
Media relations Aliénor Miens alienor.miens@margie.fr +33 6 64
32 81 75
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