08.01.2013 - European REIT portfolio down 2.1pct
The value of European Real Estate Investment Trust property portfolio stood at 292.5m at the end of December - a decrease of 2.1% from the end of June.The company said the completion of asset management initiatives, notably in Kaiserslautern, had partly offset market declines. But it said the polarisation of investor demand on prime assets and the lack of debt financing for secondary properties continues to have a negative effect on the value of the portfolio, particularly in weaker markets such as Spain. The valuations are provided by the independent valuer (CBRE) in accordance with the Royal Institution of Chartered Surveyors appraisal and valuation standards...............................................Full Article: Source
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