FCR Immobilien - Progressing with portfolio expansion agenda
FCR consistently implements its growth strategy of increasing its market penetration in the German retail property market coupled with selective, rental-oriented expansion in other real estate segments. As a result, its portfolio at end-June 2019 reached 64 properties with a leasable floorspace of 306k sqm (vs 58 and 248k sqm, respectively, at end-2018). A further seven retail properties were acquired post reporting date. Consequently, FCR’s portfolio is now generating a rental income of more than €16m pa (vs €14.8m at end-2018). FCR’s shares are currently traded at a price to last reported NAV ratio of 0.94x vs the peer median of 1.07x.
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