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Strategic reorientation of the portfolio continued a.o. through divestments of offices in Belgium, and further growth to retail/logistics and further geographical diversification Canal Logistics phase 1 and 2 nearly entirely let Increase of dividend to 4.15 euro gross per share Offices part of portfolio (based on fair value) further drops to 54% (of which the largest part 27.4% is located in Grand Duchy of Luxembourg) due to the sale of the building in Zwijndrecht (Antwerp); Net result (group share) and Net current result (excl. Portfolio result and the changes in the fair value of the ineffective hedges ) evolve well in a challenging office market: respectively 3.15 euro per share (31/12/10: 3.57 euro) and 4.77 per share (31/12/10: 5.50 euro); Revalued net asset value (based on fair value of the real estate) per share: 65.51 euro (31/12/10: 68.92 euro) mainly as a consequence of important negative impact of the fair value on the effective hedges; Occupancy rate remains high: 92.57% (31/12/10: 97.45%); Renovated office building The Crescent let for nearly 50%.
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Source: Leasinvest Real Estate Comm. VA via Thomson Reuters ONE
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