Intervest Offices & Warehouses: Interim statement
Post# of 301275
Portfolio investments in line with the strategic growth plan, which is based on the reorientation of the office portfolio and the expansion of logistics real estate in Belgium, the Netherlands and Germany.
Acquisition of a second logistics site in the Netherlands, Raamsdonksveer, with a leasable surface area of 20.500 m².
Allocation of the redevelopment of the Ford site in Genk at 'Genk Green Logistics' (a joint venture of Intervest with Group Machiels): negotiations for a contractual agreement with the Flemish government fully under way.
Reorientation of the office portfolio continued by the redevelopment of Greenhouse BXL with third RE:flex. Construction work on schedule and commercialisation fully under way.
Greenhouse Antwerp expands service provision by opening Boardroom, a modern, fully equipped meeting facility with its own catering.
RE:flex displays potential as entry formula: RE:flex user Play4mation becomes fixed tenant.
Installation of two smart charging plazas for 34 electric cars at Mechelen Campus.
Ratio of 53% logistics real estate and 47% office buildings as at 30 September 2017.
Occupancy rate 86% as at 30 September 2017 (91% as at 31 December 2016), 97% in the logistics portfolio, 75% in the office portfolio.
Occupancy rate without taking into account the Greenhouse BXL redevelopment project: 90% as at 30 September 2017 (90% as at 31 December 2016), 97% in the logistics portfolio, 83% in the office portfolio.
Decrease in the financing costs: average interest rate for financing amounted to 2,6% in the first nine months of 2017 (3,1% in the first nine months of 2016).
Debt ratio: 46,6% as at 30 September 2017 (45,7% as at 31 December 2016).
EPRA earnings per share: € 1,14 in the first nine months of 2017 (€ 1,30 in the first nine months of 2016).
Expected EPRA earnings for 2017 between € 1,50 and € 1,55 per share, with a gross dividend of € 1,40, which amounts to a gross dividend yield of 6,3%.
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