Image courtesy of ho visto nina volare/Flickr.

Offshore services company SBM Offshore sold the last building from its Monaco real estate portfolio Friday for approximately $62 million.

Holland-based SBM will book a profit of about $58 million from the sale and lease back.

In December of 2013, SBM closed sale and lease back transactions for two of the three buildings in its Monaco portfolio.

Those two deals were worth over $100 million with SBM booking a profit of approximately $30 million.

The portfolio included about 10,7639 square feet of real estate.

Total proceeds net of expenses from the three transactions are in excess of $162 million with a total profit of approximately $88 million.

SBM is now totally divested from its real estate in Monaco.


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