Vastned operating results stable
Vastned, the European retail property investment fund focusing on high street shops, has realised stable operating results in the first quarter of 2012. The direct investment result did came under some pressure from higher financing expenses and in particular from higher taxes due to a new fiscal measure in Spain. The occupancy rate was stable and there was modest rent growth. Vastned is making steady progress on implementing its strategy.
Vastned is a European retail property fund focusing on venues for premium shopping. It invests in selected geographical markets in Europe and Turkey, whereby Vastned concentrates on the best retail property in the most popular shopping streets in the bigger cities (high streets). Vastned also owns attractive shopping centres and retail warehouses. Its tenants are strong and leading international and national retail brands. The property portfolio has a size of approximately € 2.1 billion.