Report
CTP Model update, full steam ahead to beat the credit crunch
There are many possible strategies to deal with a tightening credit market. Most cut back on their pipeline dramatically and if possible raise equity to lower LTV. CTP goes full steam in the other direction and increased its development pipeline to a record breaking GLA of 1.7m sqm, more than double the pipeline at FY21 end. As long as it can realise its industry leading yield on cost > 10%, its FV increases faster than the yield expansion impact on its standing assets and additional debt needs. Another condition is that occupancy at completion has to increase to above 80% and ERV's hold up. At the last results, all these conditions were met and LTV amounted to 45%.
Underlying
CTP NV
Provider
KBC Securities
We are a financial services provider for several types of professional clients, each with distinct needs.
Wim Lewi
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