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C&W Assists With $950M Sale Plan for Euro Client

FRANKFORT-The firm, SEB, is trying to free up liquidity in its open-ended real estate fund, and is selling 14 properties in five countries.

By Robert Carr | Updated on December 07, 2011

FRANKFORT-SEB Immoninvest has sold two properties as part of a $911 million divestment plan. The properties include a 145,000-square-foot office building in Hamburg for about $47 million, and a 522,000-square-foot retail mall in Chieti, Italy for an undisclosed price.

Locally based SEB is trying to sell 14 commercial real estate properties in the Netherlands, US, Belgium, Italy and France, in order to gain funds to reopen its open-ended real estate fund. The company expects liquidity to increase to more than 21% by the end of the year due to these sales, the firm said in a statement.

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