Retail Estates Conference Call Feedback
Positive mood in the call as RET realised the highest profit on record and confirms that it has digested the COVID period well and experts are catching up to this reality. On the CiK in BXL, no more details were given, but the estimated investment value is set at 40m (top of our estimate range). Entering a new country was mentioned again, but prices are still not where they can act upon (close to financing cost), but as the P/NTA discount decreases, chances can open up over time.Retail Estates is a niche fixed-capital real estate investment fund that invests in retail properties located on the periphery of residential areas or along access roads to urban centers. Co. buys properties from third parties or builds and markets shop premises for its own account. The outlets have a built on surface areas of between 500m2 and 3,000m2. A typical retail property has an average surface area of 1,000m2. As of Mar 2010 Co. had 399 premises in its portfolio. The retail lettable area amounted to 398,754m2.
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