PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Germany's Fair Value narrows loss, sees value trend upturn
The Munich-based Fair Value REIT recorded a consolidated 2009 loss of E4.2m, narrowing the shortfall of E13.2m in 2008 and hit mainly by further writedowns on the portfolio and derivatives. CEO Frank Schaich noted the firm exceeded operational goals in a difficult market, noting that the valuation loss on the portfolio was cut in half. "In our opinion, this is an indication that we have seen the bottom," he said. (See upcoming PIE editions for full story)