Schroder European Real Estate collects most of the 3rd quarter rent

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Joe Hoppe

On Monday, Schroder European Real Estate Investment Trust PLC said it had collected the bulk of its third-quarter rents and that the value of its portfolio was up slightly.

The European Urban Investment Fund said it collected about 94% of rents for the quarter ended December 31, up from 92% in the previous two quarters.

The company added that its real estate portfolio was independently valued at € 204.7 million ($ 241.0 million) as of June 30, up 0.9% from March 31. The company said the valuation gain was mainly driven by full utilization, improved revaluation of profitability. and projected growth in the rental value of an office asset in Hamburg, as well as an improved estimated rental value of an office asset in Stuttgart.

The company said it continues to review new investments to diversify and leverage growth impact.

The stock fell 0.5p, or 0.5%, at 07.07 GMT to 101.0p.

Email Joe Hoppe at joseph.hoppe@wsj.com

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