Ulvenhout Retail Invest Fund closed the 2017 financial year on a positive note with a doubling of the recurring rental income to EUR 8,421,198, and a growth of the property portfolio value to EUR 142,675,162.
In 2017, hard work was again done to expand the quality of the E-commerce resistant real estate portfolio. During the fiscal year 21 transactions were completed, consisting of 43 stores. These units generated an additional total monthly rent of EUR 351,766 per month (recurring from December).
The strategic pillar ‘Food’ in particular was strengthened by the purchase of real estate leased to supermarkets. The largest part of the investments in 2017, therefore, went to the purchase of thirteen properties, leased to a supermarket retailer (Carrefour, Lidl, Bio-Planet and Wink (Cora group)). 52% of total rental income is now generated by real estate leased to neighbourhood supermarkets.
The 100% occupancy rate and dynamic asset management show that investing in E-commerce resistant real estate pays off. In addition, the fund took advantage of the low-interest rates to lock in the average long-term interest rate as much as possible. 83% of the debt is now locked in the long term (>10 years). Shareholders can request more information about the annual accounts and the annual report, after logging in, via the special pages ‘‘Shareholders’ and ‘Figures’ reserved for shareholders. These figures were approved at the General Meeting of 5 June. In addition, at this Annual Meeting pwc was appointed as auditor as of the 2018 financial year.
The capital raised in the spring has been fully invested by the beginning of July. The manager therefore proposes to carry out another capital increase in the autumn in order to be able to add a number of identified interesting investment files to the real estate portfolio. This capital increase is in line with the previously approved margin of EUR 50 million in additional authorized capital.
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