Arcona Property Fund reports increase in property portfolio values
29 December 2017
Arcona Property Fund N.V. has reported the independent valuation of its property portfolio as at 31 December 2017 at EUR 89.68 million, an increase of 3,7% compared to the equivalent portfolio as at 31 December 2016. Four assets were acquired in Poland during 2017. The assessed value of the four properties in the Czech Republic rose by 5.7% and the eight properties in Slovakia rose by 2.8%. The value of the 12 – asset Polish portfolio declined by 0.2%.
The value increase during the year can be attributed to improving property markets in both Czech Republic and Slovakia, with increasing demand and limited supply. The intrinsic value per share in the Fund, reported as EUR 13.09 as at 28 December 2017, increases to EUR 13.35. The market price per share on Euronext Amsterdam was EUR 7.40 on 29 December 2017
The independent valuation of the portfolio was undertaken by CBRE in accordance with Article 4.52a of the Wft.
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Arcona Property Fund reports increase in property portfolio values 29 December 2017 |
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