SEB ImmoInvest’s unit value dropped by 12 cents on January 17, 2017, falling from EUR 19.08 to EUR 18.96. The reduction is due to the regular reappraisal of six properties in the United States.
Overall, the appraisal value for the Chesterbrook portfolio has declined by 6.5%; this is due among other things to the fact that the appraiser increased the discount rate for the property to reflect the difficult market environment for suburban business parks. Other factors contributing to the decline in the market value were the 30% vacancy rate for the property, the average lease term of less than 5 years and the fact that a further 40% of the leases will expire in the next three years.