PARIS, FRANCE: MRM, a real estate investment company specialising in retail property, announced the sale of two properties representing 10,200 sqm altogether for a total €4.9 million (excluding transfer taxes), 13% above the properties’ valuations as at end-June 2021.
These disposals concern two non-strategic assets in the Gamm Vert sub-portfolio acquired in 2007. They are:
- A 8,600 sqm warehouse in Mer (Loir-et-Cher), currently let to Gamm Vert. The warehouse has been sold to a foreign investor specialising in industrial and logistics developments.
- A 1,600 sqm stand-alone property in Salbris (Loir-et-Cher) that was vacated by Gamm Vert in 2020. This property has been sold to a local independent investor.
These disposals fall within the framework of MRM’s dynamic management of its property portfolio, having previously announced that it is looking into potential acquisitions as well as possible disposals in a selective manner.
François Matray, Chief Executive Officer of MRM, commented: “In addition to selling a small stand-alone property that had been vacant since 2020, the sale of the only logistics property in our portfolio enables MRM to complete its refocus on retail property. These disposals, carried out for a total amount above the properties’ valuations as at end-June 2021, also contribute to strengthening the company’s cash position and give us more leeway with a view to being able to carry out potential acquisitions.”
MRM is a listed real estate investment company that owns and manages a portfolio 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.