The real estate investment fund HB REAVIS CE REIF, managed by HB Reavis Investment Management Sarl Luksemburg, achieved a total return of 10.2%, including a dividend of 5.29% (€53 per share).
Presently, the equity of the Fund stands at €57.1m, according to the auditor’s report issued by PriceWaterhouseCoopers. The Fund’s portfolio consists of 5 properties whose combined market value amounts to €164.4m.
The Fund's total target return is ca. 10-11% net per annum, after the deduction of taxes and fees. Half of the sum is distributed to shareholders in the form of cash, whilst the other half is attributable to the Net Asset Value increase resulting from debt amortization.
“Our customers in the office and logistics segments are predominantly large multinational or regional companies with excellent credentials. We have also managed to significantly increase the revenues at our retail asset despite the overall challenges in the consumer spending. Both facts underline the quality of our assets as well as the capabilities of our asset management team“, says Marian Herman, Chairman of the Board of HBRIM.
The Fund 's strategy envisages investments in five income generating commercial properties, which are fully-let in office, retail and logistics in Slovakia. HBR CE REIF also aims at developing on the markets in the Czech Republic and Poland. Office properties accounted for 64% of the Fund’s asset value.
„Quality commercial real estate assets are becoming more favoured alternative to the „traditional“ asset classes, as these offer an interesting return with lower volatility. We expect the dividend distribution in 2013 to at least match that of last year. We have already paid out €19,27 per share during the first quarter of 2013 and I expect to pay out another circa €40 per share until the end of 2013“, comments Peter Grančič, Member of the Board of HBR IM.