JSE-listed Schroder European Real Estate Investment Trust (Sereit) is selling its largest asset, a high-end office in Paris called Boulogne-Billancourt, as it looks to cash in and diversify into other Western European cities to manage risk better while its tenants battle through the pandemic.

Sereit, which does not have assets in SA, said on Thursday that it had agreed to a forward sale of the Paris office asset for €104m (R2bn), intending to use the proceeds to strengthen its finances and enhance revenue generation.

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