Schroder European REIT has posted a NAV of £136.7m for the year to 30 September 2016.
During the period it raised £121.7m through an IPO and two placings, and acquired seven commercial assets yielding 5.6% in German and French cities.
Its portfolio is now valued at £124m, which reflects an uplift on purchase price of around 5%.
Sir Julian Berney, non-executive chairman, said: “The acquisition of well located commercial real estate in large, liquid and established continental European conurbations is expected to generate long-term income and capital growth. The key drivers are the demand/supply imbalance of institutional-grade assets, along with ongoing structural changes such as urbanisation and infrastructure improvement.”
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