PARIS, Aug. 29, 2011 --: MRM (Euronext ISIN FR0000060196), a mixed real estate investment company specialising in retail and office property, announced today the signature of an agreement with the company FONCIERE LFPI for the sale during the fourth quarter of 2011 of two fully let office properties - a 5,900 sqm building on Quai de Dion-Bouton in Puteaux (middle left map) and a 4,600 sqm building on Avenue Paul Doumer in Rueil-Malmaison (bottom right photo). This transaction, which will take the form of the sale of the wholly-owned subsidiary of MRM holding the properties, is based on a valuation of €39.6 million for the two buildings.
Jacques Blanchard (top right photo), Chairman and Chief Executive Officer of MRM, comments: "The two assets sold form part of the portfolio of stabilised office properties and net proceeds from this transaction will contribute to the financing of current investment programmes on development properties."
For the transaction, MRM was advised by Lefèvre Pelletier & Associés, Etude Theret Leroy Rebérat acting as notary, Jones Lang Lasalle and CB Richard Ellis. FONCIERE LFPI was advised by Wragge & CO, PwC and Etude Morin acting as notary.
MRM first-half results will be published on 15 September 2011 before the market opens and will be presented during an information meeting to be held the same day.
A listed real estate investment company, MRM owns a mixed portfolio of office and retail properties comprising both stabilised assets and value-added opportunities.
Its portfolio has been built up gradually since the second half of 2007 with the contribution of properties from DynamiqueBureaux and Commerces Rendement, two investment companies created and managed by CB Richard Ellis Investors, and acquisitions carried out directly by its subsidiaries.
MRM's real estate operations are managed by CB Richard Ellis Investors. MRM is listed in Compartment C of Euronext Paris (Bloomberg code: MRM:FP - Reuters code: MRM.PA).
For more information, contact:
MRM , 65/67, avenue des Champs-Elysées, 75008 Paris, France
Isabelle Laurent, DDB Financial, 55, rue d'Amsterdam, 75008 Paris, France
T: +33 1 53 32 61 51, isabelle.laurent@ddbfinancial.fr
Website: www.mrminvest.com
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