Core Insights - Inovalis Real Estate Investment Trust has successfully closed the sale of the Baldi property for €14.0 million ($22.9 million), which is a 124,000 square foot office and mixed-use property located in Saint-Ouen, France [1][2] - This transaction marks the second completed disposition in 2025, generating approximately $23 million in cash for the REIT, reflecting a focus on asset recycling and balance sheet strength [2] - The net proceeds from the sale, after repaying related bank debt and disposition costs, are expected to be around €11.2 million ($18.3 million), which will be allocated for capital expenditures related to repositioning or redevelopment of owned properties and further reducing indebtedness [2] Company Overview - Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange, founded in 2013, focusing on office properties in primary markets of France, Germany, and Spain, currently holding 11 assets [3] - The REIT acquires real estate properties indirectly through CanCorpEurope, an authorized Alternative Investment Fund managed by Inovalis S.A. [3] - Inovalis S.A., the fund manager, is authorized by the French Securities and Markets Authority and manages various real estate investment vehicles, with a total of EUR 7 billion in assets under management [4]