In August, the
The REIT had previously adjusted the book value of the Arcueil property and deducted potential leasing costs based on the assumption there was a 75% chance of non-renewal. As a result of such changes, the book value of the property was previously reduced by 12%.
The delivery of the formal notice of non-renewal now allows the REIT to advance its alternative plans for mixed use re-development of this asset that will offer LEED certified best-in-class operational, environmental, life-safety and health and wellness systems.
Forward Looking Statements
Certain statements contained in this news release may constitute 'forward-looking information' within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The use of any of the words 'anticipate', 'continue', 'estimate', 'expect', 'intend', 'may', 'will', 'project', 'should', 'believe', 'confident', 'plan' and 'intends' and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specifically, forward-looking information in this news release includes, but is not limited to, statements made in relation to the impact that the non-renewal of the sole lease on the Arcueil property may have on the REIT's overall financial condition. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events, performance, or achievements of the REIT to differ materially from those anticipated or implied by such forward-looking information. The REIT believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct. In particular there can be no assurance that the REIT will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking information included in this news release are not guarantees of future performance, and such forward-looking information should not be unduly relied upon. More information about the risks and uncertainties affecting the REIT's business and the businesses of its royalty partners can be found in the 'Risk Factors' section of its Annual Information Form and in its most recent Management's Discussion and Analysis, copies of each of which are available under the REIT's profile on SEDAR at www.sedar.com. All of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the REIT. The forward-looking information included in this news release is presented as of the date of this news release and the REIT assumes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
About Inovalis REIT
Inovalis REIT is a real estate investment trust listed on the
About
Contact:
Chief Executive Officer
T: +33 1 5643 3313
E: david.giraud@inovalis.com
Khalil Hankach
Chief Financial Officer
T: +33 1 5643 3323
E: khalil.hankach@inovalis.com
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