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Arcona property fund reports record growth

Alex Hayes 05 February 2018

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

CEE REGION The valuation of the Arcona Property Fund closed 2017 up by 3.7 pct y-o-y. This was largely due to a rise in value of the fund’s four-building Czech portfolio of 5.7 pct and a rise of 2.8 pct in the value of its eight properties in Slovakia. The value of its twelve properties in Poland remained stable.

The net asset value per share increased from EUR 11.69 to EUR 13.35 over the twelve months to 31 December 2017, an increase of 16 pct. The market price per share on Euronext Amsterdam increased from EUR 5.40 to EUR 7.40 over the period representing an increase of 37 pct. In addition, an interim dividend of EUR 0.10 per share was paid in August 2017. Over 2017 four assets were acquired in Poland and two small office buildings, in Prague and Kosice, were sold. The fund´s portfolio grew in size by around 20 pct from EUR 75.02 mln to EUR 89.68 mln. “It was another strong year for our flagship Arcona Property Fund in 2017, with its positive performance reflecting rising demand, increasing rents and a lack of new supply across Central Europe’s property markets. Our focus going forward will be on continuing our acquisition programme, aiming to raise the total asset value of the Arcona Property Fund to EUR 500 mln by adding 20-30 assets over the next three to five years,” said Guy Barker, the managing director of Arcona Capital.


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