Portfolio Valuation

The Fund’s portfolio is geographically diversified across 38 markets in 12 European countries. The following charts show the total portfolio’s geographical distribution based on the market value of 449 properties owned by the Fund as at 31 December 2018, in terms of allocations by country and region.

Net Property Value by Country

Net Property Value by Country

(€ millions) as at 31 December 2018

Geographic Distribution by Net Value

(€ millions) as at 31 December 2018

 

In Q4 2018, capital values continued to grow. Excluding the effect of currency movements and transactions, the Fund’s portfolio value increased by 2.5% during the quarter.

Fourth Quarter Operating Results

Operating portfolio occupancy increased to 98.0%. Total leasing activity covered over 370,000 SQM.

Occupancy by Region

Occupancy By Region

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

Expiries /Lease Breaks

(€ thousands) as at 31 December 2018

The Fund has a diversified customer base, which consists of 780 leases.

  • No one customer comprises more than 4.9% of the total annualised ending base rent.
  • In total, the top 10 customers account for only 23.7% 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.

Customer Base - Top 10

Contact

Fund Administration

Joanne Davies

Manager, Fund Administration

+352 2620 5785

[email protected]