EPRA Europe Index adds three companies with EUR 8.5b of assets

The FTSE EPRA/NAREIT Developed Europe index has added three more listed property companies with a combined real estate portfolio value of EUR 8.5 bn.

The EPRA index is a global benchmark and most widely used investment index for listed real estate. After the three inclusions, the index stands at 85 constituents and includes the leading property companies of 16 European economies. These represent a free-float market capitalisation of about EUR 100 bn.

The new components are IVG, the largest listed real estate company in Germany; Mobimo of Switzerland, and Swedish company Wallenstam. The three passed the required eligibility criteria during the Index's June quarterly review.

IVG has EUR 4.3 bn of assets on its balance sheet, and also manages funds and mandates totalling EUR 15.1 bn that is not included in the index portfolio calculations.

According to EPRA, the additions not only expand the index, but also contribute to its geographical diversification and further reinforce its attractiveness for investors.

Philip Charls, CEO of EPRA commented: 'This review's new inclusions are very positive for both the companies and the EPRA index. Bearing in mind our overall objective is the continued growth of the listed real estate sector, the increased visibility and market capitalisation that will result from this expansion of the index are most welcome.'