Inovalis Actual Property Funding Belief Offers Supplemental Data in Connection With Its Upcoming Particular Assembly of Unitholders to Be Held on September 4, 2024

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TORONTO — Inovalis Actual Property Funding Belief (the “REIT”) (TSX: INO.UN) in the present day introduced that, in reference to the upcoming particular assembly of unitholders of the REIT to be held on September 4, 2024 (the “Particular Assembly”), the REIT is offering supplemental disclosure by the use of this press launch on sure issues associated to motion to be taken on the Particular Assembly.

On the Particular Assembly, unitholders will probably be requested to think about and, if thought advisable, go an bizarre decision (the “Sabliere Sale Decision”) approving the sale of a single asset situated 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 supervisor of the REIT, or an affiliated entity managed by the Purchaser (the “Sabliere Sale”). In respect of the Sabliere Sale, the REIT entered right into a non-binding letter of intent with the Purchaser pursuant to which the REIT and the Purchaser have agreed in precept to a sale of the Property at a worth of €17,500,000 (C$0.41 per unit on a per unit internet of debt foundation as of the date hereof), topic to the events coming into right into a definitive buy settlement.

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The trustees of the REIT have unanimously decided that the Sabliere Sale is truthful to the REIT and is in the most effective pursuits of the REIT, and recommends that unitholders vote IN FAVOUR of the Sabliere Sale Decision. The REIT thanks its unitholders who’ve already voted in reference to the Particular Assembly and reminds unitholders to submit their votes prematurely of the proxy voting deadline on August 30, 2024 at 5:00 p.m. For added data on the Particular Assembly, the REIT directs unitholders to its administration data round dated August 1, 2024 (the “Round”), which is obtainable on the REIT’s SEDAR+ profile at www.sedarplus.ca.

Prior Provides

Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions (“MI 61-101”) requires disclosure of bona fide prior presents that the REIT acquired that relate to the Sabliere Sale and which prior provide was acquired by the REIT throughout the 24 months previous to the coming into into of the Letter of Intent. The REIT started advertising the Property within the fourth quarter of 2022 by participating a dealer (the “Dealer”) to solicit presents. Pursuant to such advertising efforts, the REIT acquired 4 different presents previous to coming into into the Letter of Intent (the “Prior Provides”). Beneath is a abstract of every of the Prior Provides.

Beneath is a comparative abstract of the sale proceeds for the provide acquired from the Purchaser as in contrast in opposition to the Prior Provides. Figures are disclosed in euros.

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Primarily based on the foregoing, the trustees decided that the online sale proceeds to be obtained by the REIT from the sale of the Property to the Purchaser was superior to promoting the Property pursuant to any of the Prior Provides (which had been all expired non-binding presents from third events), notably given the deterioration in market circumstances, together with larger gross sales prices (dealer charges, advisory charges, sale worth negotiation and eviction prices) and the uncertainty of the political state of affairs in France. Primarily based on the foregoing and all different components and issues absolutely disclosed within the Round, the trustees unanimously resolved that the Letter of Intent from the Purchaser is in the most effective pursuits of the REIT to pursue.

The “internet proceeds from sale” and different monetary evaluation, data and estimates in respect of the Sabliere Sale and the Property disclosed on this press launch are estimates primarily based on the REIT’s present expectations and perception. There may be the danger of a doable failure to comprehend the anticipated returns of the Sabliere Sale. Gross sales contain dangers that would materially and adversely have an effect on the REIT’s marketing strategy, together with the failure of the Sabliere Sale to comprehend the outcomes the REIT expects. Whereas administration of the REIT, primarily based on data deemed applicable and ample for such functions, believes the Sabliere Sale will probably be useful for the REIT, such dedication shouldn’t be thought to be a assure of future efficiency or outcomes and consists of sure estimates and assumptions, the precise results of which can be completely different. If the Sabliere Sale fails to comprehend the outcomes that the REIT expects, the Sabliere Sale might have a fabric hostile impact on the REIT and its monetary outcomes. Please check with “Threat Components” within the Round for an outline of sure of the dangers associated to the Sabliere Sale.

Approval of Sabliere Sale Decision and Excluded Votes

To be able to be authorised on the Particular Assembly, the Sabliere Sale Decision should obtain the affirmative vote of not lower than a majority of the votes forged thereon by unitholders on the Particular Assembly (aside from sure excluded unitholders as required by MI 61-101). However any disclosure within the Round on the contrary, as every of the trustees of the REIT are impartial of each the Sabliere Sale and the REIT itself, every of the trustees will probably be entitled to vote any models that they maintain on the Sabliere Sale Decision and such votes is not going to be excluded from nearly all of the minority vote.

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For the needs of the Sabliere Sale Decision, the Purchaser and its officers, who collectively maintain 2,760,856 models and 938,036 particular voting models, representing 11.3% of the excellent models and particular voting models, will probably be excluded from voting, along with (i) every other social gathering that’s an “ social gathering” in respect of the Sabliere Sale; (ii) every other social gathering that could be a “associated social gathering” of an “ social gathering”, and (iii) every other social gathering that could be a “joint actor” with any of the foregoing with respect to the Sabliere Sale, as decided pursuant to MI 61-101 and topic to the exceptions famous therein (collectively, the “Excluded Unitholders”). The Excluded Unitholders are comprised of: (i) Mr. Stéphane Amine, President and CEO of the REIT, who holds 37,900 models and not directly workout routines management or route over 1,530,074 models and 938,036 particular voting models held by the Purchaser; (ii) Mr. David Giraud, an worker of the Purchaser, who holds 1,151,782 models; and (iii) Ms. Anne Smolen, an worker of the Purchaser, who holds 41,100 models. All the excellent particular voting models are owned by Excluded Unitholders and, as such, the holders thereof usually are not entitled to vote on the Particular Assembly.

About Inovalis REIT

Inovalis REIT is an actual property funding belief listed on the Toronto Inventory Trade in Canada. It was based in 2013 by Inovalis and invests in workplace properties in main markets of France, Germany and Spain. It holds 13 belongings. Inovalis REIT acquires (not directly) actual property properties by way of CanCorpEurope, licensed Various Funding Fund (AIF) by the CSSF in Luxemburg, and managed by Inovalis S.A.

About Inovalis Group

Inovalis S.A. is a French Various Funding fund supervisor, licensed by the French Securities and Markets Authority (AMF) beneath AIFM legal guidelines. Inovalis S.A. and its subsidiaries (Advenis S.A., Advenis REIM) put money into and handle Actual Property Funding Trusts reminiscent of Inovalis REIT, open ended funds (SCPI) with steady actual property focus reminiscent of Eurovalys (for Germany) and Elialys (Southern Europe), Non-public Thematic Funds raised with Inovalis companions to put money into outlined actual property methods and direct Co-investments on particular belongings

Inovalis Group ( www.inovalis.com), based in 1998 by Inovalis SA, is a longtime pan European actual property funding participant with EUR 7 billion of AuM and with places of work in all of the world’s main monetary and financial facilities in Paris, Luxembourg, Madrid, Frankfurt, Toronto and Dubai. The group is comprised of 300 professionals, offering Advisory, Fund, Asset and Property Administration providers in Actual Property in addition to Wealth Administration providers.

View supply model on businesswire.com: https://www.businesswire.com/information/residence/20240827775558/en/

Contacts

For additional data:
Mike Bonneveld
Chair of the Funding Committee of the Board of Trustees
Inovalis Actual Property Funding Belief
mbonneveld@inovalis.com

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