Savills IM sells real estate portfolio in the USA

Savills Fund Management GmbH, which is responsible for the operational implementation of the further liquidation of SEB ImmoInvest, has sold a property in Harrison, New York. Due to the sale effects, the unit value of SEB ImmoInvest decreased by EUR 0.05 from EUR 5.55 to EUR 5.50 on the publication date of 21 October 2019.

The sale of the property is the result of a structured marketing process. The property is located in Manhattanville Road in Harrison and was acquired for SEB ImmoInvest in the year 2000. The selling price was below the most recently appraised market value. It was not possible to prolong the expiring lease agreements with the existing major tenants. A sale at the present time nevertheless offered the best economic option. As the property was held via a real estate company, this will remain in existence until it can be liquidated after all warranty obligations have expired.

SEB ImmoInvest therefore still holds a total of four properties: three in Germany and one in the USA. These are all in the marketing process. Investors will be informed if any properties are sold.