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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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