Developing well
Globalworth Real Estate Investments (GWI) made strategic and financial progress in FY15. The portfolio grew strongly through acquisitions and development progress, with construction of the flagship Globalworth Tower completed by year-end and the property delivered in Q116. NOI and cash flow both increased significantly and we forecast further strong growth as acquisitions fully contribute and remaining developments complete. EPRA NAV per share grew 12.2% during the year despite share issuance and the pro forma year-end LTV was 44.3% (43.5% reported for Q116). Meanwhile the Romanian economy and the Bucharest commercial real estate market remain supportive. Against this backdrop and our forecasts for growing cash flow, the failure of the NAV discount to narrow seems unwarranted.Globalworth Real Estate Investment is a integrated real estate company operating in the Central and Eastern Europe and South-Eastern Europe region with a primary focus on Romania, where it acquires, develops and directly manages primarily office and logistics/light-industrial real estate assets. Co. has three reportable operating segments: the Offices segment, which acquires, develops, leases and manages offices and spaces; the Residential segment, which builds, acquires, develops and leases apartments; and the Other segment, which acquires, develops, leases and manages industrial spaces and corporate holding offices.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.