INTERVEST OFFICES & WAREHOUSES NV Growth in the portfolio in line with the strategic growth plan based on the reorientation of the office portfolio and the expansion of logistics real estate in Belgium, the Netherlands and Germany.
Allocation to 'Genk Green Logistics' (a joint venture of Intervest and Group Machiels) of the redevelopment of the Ford site in Genk, which represents an expanded new-build potential for logistics real estate by approximately 250.000 m².
Expansion of the logistics portfolio by 4% with the acquisition of two logistics sites located in Oevel and Aarschot, totalling approximately 25.500 m²; first step in the Netherlands with the acquisition of a logistics site of 13.300 m² in Tilburg, and the delivery of a new-build distribution centre of 12.200 m² at Herentals Logistics 3.
Reorientation of the offices portfolio continued with the redevelopment of Greenhouse BXL with third RE:flex. Construction works according to plan and commercialisation of Greenhouse BXL fully under way; interest from several parties. Purchase of a vacant building adjacent to Greenhouse BXL, for demolition and redevelopment into park and relaxing area, as extension to Greenhouse BXL, with extra parking.
Ratio of 52% of logistics real estate and 48% office buildings as at 30 June 2017.
Rental transactions primarily in the logistics portfolio: prolongations for 7% of the annual rental income of the logistics segment.
Occupancy rate 85% as at 30 June 2017 (91% as at 31 December 2016), 97% for the logistics portfolio, 75% for the office portfolio.
Occupancy rate without taking into account the redevelopment project of Greenhouse BXL: 90% as at 30 June 2017 (90% as at 31 December 2016); 97% for the logistics portfolio, 83% for the offices portfolio.
Decrease in fair value of the real estate portfolio in the first quarter of 2017 by 0,8%.
EPRA earnings per share: € 0,74 in the first semester of 2017 (€ 0,88 in the first semester of 2016).
Drop in the financing cost: average interest rate of the financing 2,6% in the first semester of 2017 (3,1% in the first semester of 2016).
Strengthening of the shareholders' equity in the first semester of 2017 by €22 million through the optional dividend, with 55% of shareholders opting for shares and through the contribution in kind of the logistics site in Oevel and Aarschot.
Debt ratio: 46,5% as at 30 June 2017 (45,7 % as at 31 December 2016).
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Source: Intervest Offices & Warehouses NV via Globenewswire
