Alstria Office has announced revenues increased 4% year-on-year in the first half to EUR 51.6 mln, mainly as a result of full-year consolidation of assets acquired in the first quarter 2008.
Alstria Office has announced revenues increased 4% year-on-year in the first half to EUR 51.6 mln, mainly as a result of full-year consolidation of assets acquired in the first quarter 2008.
Compared to the first quarter of 2009, funds from operations (FFO) for the second quarter remained stable at EUR 8 mln, resulting in EUR 16.2 mln FFO for the first six months. This compares to EUR 20.4 mln in the year-earlier period.
The company announced the value of its investment property fell 2.6% to EUR 1.76 bn. The vacancy rate increased from 5.9% to 6.5%. Following the refinancing of existing loans and due to the current low interest rate environment, the company has reduced its average cost of financing from 4.8% to 4.4%.
Alstria is an internally managed German real estate investment trust (G-REIT) focused solely on acquiring, owning and managing office real estate in Germany.
