• Third logistics site in the Netherlands: agreement signed for the purchase of the site and development of logistics project of approximately 28.000 m2 in Roosendaal.
  • Development potential of over 250.000 m² of logistics real estate on the Ford site in Genk with the selection of "Genk Green Logistics": contractual agreement with the Flemish government is nearing completion.
  • Construction works on Greenhouse BXL with 3rd RE:flex (coworking lounge) are in progress and marketing is fully under way.
  • Fair value of the total real estate portfolio: € 667 million as at 31 March 2018 (€ 663 million as at 31 December 2017). Increase by the redevelopment of Greenhouse BXL and the sharpening of the yields for logistics real estate in the Netherlands.
  • Ratio of real estate segments unchanged at 54% logistics real estate and 46% office buildings.
  • Stable occupancy rate of the real estate portfolio: 86% as at 31 March 2018 (86% as at 31 December 2017); 91% without the Greenhouse BXL redevelopment project.
  • Occupancy rate of the office portfolio: 76% as at 31 March 2018 (76% as at 31 December 2017); 84% without the Greenhouse BXL redevelopment project.
  • Occupancy rate of the logistics portfolio: 97% as at 31 March 2018 (98% as at 31 December 2017).
  • Increase of the EPRA earnings with 11% during the first quarter of 2018 (compared to the first quarter of 2017) as a result of higher rental income from 5 acquisitions in the logistics real estate portfolio in 2017.
  • Stable EPRA earnings per share: € 0,36 in the first quarter of 2018 (€ 0,36 in the first quarter of 2017).
  • Stable average interest rate for the financing: 2,5% in the first quarter of 2018 (2,5% in the first quarter of 2017).
  • Decrease of the debt ratio: 43,7% as at 31 March 2018 (44,6% as at 31 December 2017).
  • Buffer of available credit lines to pay the dividend for financial year 2017 in May 2018 and the financing of the further growth of the real estate portfolio: € 79 million.

Full press release:

Results first quarter 2018


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Source: Intervest Offices & Warehouses NV via Globenewswire