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The proceeds from the Piazza Affari sale will be used to pay down debt and would reduce CEREIT’s gearing ratio by 2.1% to 37.2%.
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Nominal prices of apartments in the first quarter of 2023 were increased compared to the corresponding quarter of 2022 by 14.5%.
The prolonged weakness has started to hurt even top-tier towers that usually remain immune to downturns.
The building is let to 12 companies, including Deutsche Börse, Netflix, the Embassy of Monaco and law firm Norton Rose Fulbright.