Intervest Offices & Warehouses: Interim statement of the board of directors for the third quarter of 2016
Development of the growth strategy with solid growth over the next three years, based on a reorientation in the offices portfolio and further expansion in logistics real estate
Expansion at Intercity Business Park in Mechelen with the acquisition of a building at Generaal de Wittelaan 11C of approximately 8.300 m²
Official inauguration of Greenhouse Antwerp with 2nd RE:flex, a fully-renovated office building with a green façade geared to the new way of working
Proportion of 51% of logistics real estate and 49% office buildings as at 30 September 2016
In both the logistics portfolio and the offices segment, occupancy rate rose with 1% during the first nine months of 2016 to 91% as at 30 September 2016; 96% for the logistics portfolio, 86% for the offices portfolio
Rental transactions mainly in the logistics portfolio: 33% of the net annual rental income for the logistics segment was extended, expanded or renewed in the first nine months of 2016
Almost stable fair value of the real estate portfolio
Rise in the underlying operating distributable result (without taking into account the one-off allocated refurbishment fee for 2015) from € 1,28 per share for the first nine months of 2015 to € 1,30 for the first nine months of 2016 (€ 0,02 per share or approximately 2%)
Average interest rate of the financing for the first nine months: 3,1% in 2016 (3,7% in 2015)
Debt ratio: 46,5% as at 30 September 2016 (48,2% as at 31 December 2015)
Expected operating distributable result for 2016 between € 1,70 and € 1,75 per share with a gross dividend of a minimum of € 1,40 (dividend pay-out ratio: 80-82%)
Full press release
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Source: Intervest Offices & Warehouses NV via GlobeNewswire
