Portfolio Valuation

The Fund’s portfolio is geographically diversified across 41 markets in 12 European countries. The following charts show the total portfolio’s geographical distribution based on the market value of 514 properties owned by the Fund as at 31 March 2020, in terms of allocations by country and region.

Net Property Value by Country

PELF Net Property Value by Market

(€ millions) as at 31 March 2020

Geographic Distribution by Net Value

PELF Geographic Distribution by Net Value

(€ millions) as at 31 March 2020

 

In Q1 2020, capital values continued to grow marginally. Excluding the effect of currency movements and transactions, the Fund's portfolio value increased by 0.5% during this quarter.

First Quarter Operating Results

Operating portfolio occupancy decreased to 96.9%. Total leasing activity covered over 500,000 SQM.

Occupancy by Region

PELF Occupancy by Region

 

Expiries/Next Lease Breaks – Annualised Ending Base Rent (AEBR)

PELF - Expiries/Next Lease Breaks – Annualised Ending Base Rent (AEBR)

(€ thousands) as at 31 March 2020

The Fund has a diversified customer base, which consists of 848 leases.

  • No one customer comprises more than 4.8% of the total annualised ending base rent.
  • In total, the top 10 customers account for only 23.8% of the total annualised ending base rent of the Fund.

The following table lists the top 10 customers and their share of the total annualised ending base rent of the Fund.

PELF Customer Base - Top 10

Contact

Fund Administration

Joanne Davies

Manager, Fund Administration

+352 2620 5785

[email protected]