Listed French real estate company Kl茅pierre has completed or agreed disposals totalling just under EUR 650 mln so far in 2012. This is more than half of the company's target of EUR 1 bn of disposals in 2012-13.
Listed French real estate company Kl茅pierre has completed or agreed disposals totalling just under EUR 650 mln so far in 2012. This is more than half of the company's target of EUR 1 bn of disposals in 2012-13.
Announcing its results for the first nine months of 2012, Kl茅pierre said 65% of the disposal value is related to shopping centres located in France and 35% to Parisian office buildings. These sales were completed for prices in line with, or above, the latest appraised values, including the sales agreed in the 3rd quarter of 2012.
Other assets in the portfolio are currently the subject of due diligence processes.
During Q3 Kl茅pierre invested EUR 148 mln, which brings total investments for the first nine months of 2012 to EUR 355 mln. Most of the investments are related to development projects located in France and Scandinavia.
Kl茅pierre reported consolidated rents reached EUR 243.4 mln for Q3 2012, up by 3.1% on a current portfolio basis. This brought consolidated rents to EUR 729.4 mln for the first nine months of the year, an increase of 3.2%.
Third-quarter revenues came to EUR 263.6 mln, an increase of 2.7% and reached EUR 793.2 mln for the first nine months of 2012, up by 3.4% year-on-year on a current basis.
