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- Schroder European REIT collects 89% of rent and reports valuation rise
Schroder European REIT has announced it collected 89% of rent for the final quarter of 2020.
This was ahead of the previous two quarters collection rate, which stands at 87%.
The company also announced its quarterly portfolio valuation, which increased by 1.4% on the September 2020 valuation to €276.1m.
The valuation increase was driven by a number of asset management initiatives, the group said. This included two new lettings at its Hamburg office and yield compression and estimated rental value (ERV) growth at a number of its industrial assets.
The value of the company’s 50% stake in the Seville shopping centre declined marginally by 0.2% in the quarter, with the decline limited by the opening of an expanded and refurbished supermarket.
Based on the new valuation, the group’s loan-to-value now stands at 25%.
SERE: Schroder European REIT collects 89% of rent and reports valuation rise
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