SEB ImmoInvest’s unit price will drop by EUR 0.10 on the 28 March 2017 publication date, falling from EUR 18.22 to EUR 18.12.

The change is largely due to the reappraisals of a property in Belgium, two properties in Italy, a property in the Netherlands and two properties in Germany.

The market environment for the two properties in Basiglio, Italy, remains difficult, with continuing high vacancy rates. The appraiser took this into account by, among other things, increasing the discount rate and adjusting the vacancy costs.

In the case of the property located at Im Heidkampe 9–11, Hanover, the appraiser took the short remaining lease term into account during the valuation. Tenants of the Grafenberger Allee 293 building in Düsseldorf are set to move out in the course of the current calendar year. The appraiser took this into account both with respect to the discount applied for vacancies and by slightly increasing the discount rate.

Only part of the large amount of space vacated by the previous major tenant of the property in Amsterdam, the Netherlands, could be relet; in addition, the new rent is lower and substantial incentives were granted. The appraiser took this into account by reducing the sustainable rent and applying an appropriate discount for vacancies.