Inovalis Real Estate Investment Trust Announces Special Meeting of Unitholders to Be Held on September 4, 2024

TORONTO -- Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) today announced that it has called a special meeting of unitholders to be held on September 4, 2024 (the “Special Meeting”). At the Special Meeting, unitholders will be asked to consider and, if thought advisable, pass an ordinary resolution (the “Sabliere Sale Resolution”) approving the sale of a single asset located at 24-26, Rue Bénard – 25, Rue Hyppolite Maindron – 27-29, Rue de la Sablière, Paris, District 14, France (the “Property”) to Inovalis S.A. (the “Purchaser”), the manager of the REIT, or an affiliated entity controlled by the Purchaser (the “Sabliere Sale”). In respect of the Sabliere Sale, the REIT entered into a non-binding letter of intent with the Purchaser pursuant to which the REIT and the Purchaser have agreed in principle to a sale of the Property at a price of €17,500,000 (C$0.41 per unit on a per unit net of debt basis as of the date hereof), subject to the parties entering into a definitive purchase agreement (the “Sabliere Sale Agreement”). Read More