Vastned Retail Belgium: Interim statement by the B
Post# of 301275
Strategic focus on core city assets continues to be primary theme in activities.
Acquisition of 3 adjoining core city assets in the centre of Antwerp, located at Steenhouwersvest 44 46 - 48 for an investment value of about € 6 million.
As at 30 September 2017, 59% of the real estate portfolio consisted of core city assets and 41% of mixed retail locations (inner-city shops outside of the premium cities, high-end retail parks and retail warehouses).
Occupancy rate as at 30 September 2017: 99% (98% as at 31 December 2016).
Increase in the fair value of the existing real estate portfolio by € 18 million in the first nine months of 2017, mainly as a result of the stronger yields of the core city assets.
Decrease of the EPRA result in the first nine months of 2017 to € 1,78 per share (€ 1,85 for the first nine months of 2016), mainly attributable to one-off finance expenses as part of the refinancing.
Extension of the average term of the credit lines and a drop in average interest rate as a result of the refinancing of the entire loan portfolio.
Limited debt ratio of 28% as at 30 September 2017.
Expected gross dividend for 2017 between € 2,42 and € 2,47 per share.
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