Vastned Retail Belgium: Interim statement by the Board of Directors as at 30 September for the third quarter of financial year 2017

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.

Full press release: