Invista European Real Estate Trust (IERET) said its unaudited net asset value (adjusted to add back deferred taxation) in the year ending September 30, amounted to EUR3.11 per share, or an 1.4% increase over the quarter. Since the closed-end investment company’s shares were floated on the London Stock Exchange at the end of 2006, Invista said the total net asset value return on a per share basis, using the adjusted pro forma net asset value of EUR 2.82 at IPO, was 11.7%. On an unadjusted basis, Invista said its NAV at IPO time had been EUR 2.83 per share.
Invista European Real Estate Trust (IERET) said its unaudited net asset value (adjusted to add back deferred taxation) in the year ending September 30, amounted to EUR3.11 per share, or an 1.4% increase over the quarter. Since the closed-end investment company’s shares were floated on the London Stock Exchange at the end of 2006, Invista said the total net asset value return on a per share basis, using the adjusted pro forma net asset value of EUR 2.82 at IPO, was 11.7%. On an unadjusted basis, Invista said its NAV at IPO time had been EUR 2.83 per share.
Invista, a closed-end investment company that floated on the London Stock Exchange on December 20, 2006, also announced a second interim dividend of EUR 0.0887 per share for the period of April 1, 2007 to September 29, 2007. That dividend payment will be made on December 21 to registered shareholders as of December 14. The company also said an independent valuation of its property portfolio as of September 30 amounted to EUR 724.3 mln for its 46 properties.
‘The success in executing our active asset management strategy as set out at the time of the IPO is now generating benefits across the portfolio and remains central to delivering future returns in tightening markets,’ Tony Smedly, head of European funds at Invista Real Estate Investment Management, said in a statement. ‘We will continue to focus upon the largest and most liquid property markets in Continental Europe and actively re-distribute capital around these markets in order to capture value on behalf of the Company’s shareholders.’