PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
French FdR sees recurring net income up 9%, but NAV off 13%
French REIT Foncière des Régions recorded recurring net income up 9% to e285m for 2008, but group share of net income slide to e557m from e793m profit in 2007. Its portfolio, 60% in the form of offices in Paris, showed an increase in capitalisation rates of 44bp and an average yield at end-2008 of 6.7%; in absolute terms it totalled e13.7bn at year end, down from e15.1bn 12 months earlier but including net disposals. Like-for-like depreciation was 3.1%.