Update on Asset Disposals & the Company's D...

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 1^st 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: [phone]
Email:[e-mail]

Sponsor and Broker
Stifel Nicolaus Europe Limited
150 Cheapside
London EC2V 6ET
Tel: [phone]

Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
GY1 3QL
Tel: [phone]