Press Release

 

Paris, July 28, 2011

 

  1. to the acquisition of a ?346 million office portfolio 

 

 

Following the exclusivity period with GE Capital Real Estate, announced on July 4th, Eurosic signed today a memorandum of agreement with a view to the acquisition of an office portfolio valued at ?346 million including duties.

 

This portfolio with an aggregate leasable area of 150,000 sq.m, is occupied at 95%. It is made up primarily of recent significant-sized and multi-tenant office buildings located in major cities throughout France (70%, primarily in Toulouse, Nantes and Lyon) and in Paris - Inner Rim (30%).

 

The transaction is combined with the transfer of the team managing this portfolio.

 

This acquisition, which is expected to be effective before the end of October, will be financed for half of the total amount through a capital increase with preferential subscription rights maintained, with bank financing covering the other half. The subscription price for the capital increase will be no lower than the price for Monroe's voluntary public offer, i.e. ?34.30 per share and the subscription period is planned for early October.

 

This operation would make it possible to grow Eurosic's portfolio by around 25%, in addition to raising the percentage of offices to 85% and further strengthening its positioning on office real estate in France and would have an accretive effect on the cash flow per share.

 

 

 

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About Eurosic

 

Eurosic is a listed real estate investment trust (SIIC) which owns and manages a portfolio valued at ?1.4 billion at June 30, 2011, primarily made up of large and recent offices located in Paris and the inner suburbs.
Eurosic trades continuously on Euronext Paris Eurolist, Compartment B, and has been part of the SBF 250 and CAC Mid 100 indexes since December 18th, 2009.

 

Ticker : ERSC - ISIN : FR0000038200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investor Relations                                                Press relations
Laurent FaureFatima El Allaly
Phone : +33.1.45.02.23.29                                        Phone : + 33.1. 44.43.76.41
l.faure@eurosic.fr:
mailto:l.faure@eurosic.fr                                                fatima.elallaly@dialog.publicis.fr
www.eurosic.fr

memorandum of agreement:
http://hugin.info/143435/R/1534615/467753.pdf


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Source: Eurosic via Thomson Reuters ONE
HUG#1534615