MRM : Sale of the Urban building in Montreuil (Seine-Saint-Denis department)
Sale of the Urban building in Montreuil (Seine-Saint-Denis department)
- MRM achieves its plan to refocus on retail property
- Office disposals carried out since June 2013 amount to €132 million in total
Paris, 30 January 2019: MRM (Euronext code ISIN: FR0000060196), a real estate company specialising in retail property, today announced the sale of Urban, a 8,000 sqm vacant office building which is part of La Croix de Chavaux real estate complex located in Montreuil.
This disposal marks the completion of MRM's plan to refocus on retail property, which was launched in June 2013. This transaction has increased to €132 million the total amount of office assets sales proceeds collected by MRM since then.
MRM reminds that, since 2016, it has been implementing a €35 million investment plan for its retail portfolio encompassing seven of its existing nine asset lines. Launch of the various programmes has been phased that year, with the last (and also the largest, i.e. the extension to the Valentin shopping centre extension) due to be completed early 2020.
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MRM was advised on this transaction by Colliers International and by notarial firm Lasaygues & Associés.
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Revenues for the fourth quarter and 2018 full-year results are due out on 22 February 2019 before market opening and will be presented at an information meeting to be held on the same day.
MRM is a listed real estate investment company that owns and manages a portfolio in France consisting primarily of retail properties across several regions of France. Its majority shareholder is SCOR SE, which owns 59.9% of share capital. MRM is listed in Compartment C of Euronext Paris (ISIN: FR0000060196 - Bloomberg code: MRM: FP - Reuters code: MRM.PA). MRM opted for SIIC status on 1 January 2008.
For more information:
| MRM |
5, avenue Kléber
75795 Paris Cedex 16
T +33 (0)1 58 44 70 00
| Isabelle Laurent, DDB Financial |
T +33 (0)1 53 32 61 51
M +33 (0)6 42 37 54 17