On 15 July 2019, EUR 0.83 per unit will be paid out to investors as part of the regular semi-annual distributions. This corresponds to an aggregate amount of roughly EUR 96.7 million. Since the beginning of the fund liquidation the amount paid out to investors within the fifteen distributions amounts to approximately EUR 4.5 billion. This corresponds to approximately 75 % of the Fund assets as of May 2012, the date when the management mandate was terminated.

The payment represents the final distribution for the 2018/19 fiscal year, during which freely available liquidity is distributed to investors. The liquidity stems from the three sales of two properties in Italy and one property in Germany, which were sold at the end of 2018/beginning of 2019. The fund management was able to sell one property in the U.S. in May 2019. The office building in Wayne, Pennsylvania, Philadelphia was acquired for the fund in 2006. The sale took place below the last determined market value and thus has a negative effect on the unit value. The funds from the sale will not flow into the fund until some time after the transaction has been completed, so that the distribution date has been adjusted accordingly.

The respective depositary will need time to process the payout so that the amount paid out will only be credited a few bank working days after 15 July 2019. The payout has a notional effect on the unit value of the fund in the amount of the distributed amount.

Further distributions will be carried out, once further properties of SEB ImmoInvest’s portfolio can be sold and risks have declined over time. Sufficient liquidity reserves must be retained to meet all obligations. Retaining liquidity reserves allows the Depositary Bank to provide for potential future claims from tax authorities as well as granted warranties and guarantee claims. SEB ImmoInvest currently holds 10 properties in Germany and the U.S., all of which are currently in the marketing process. As in the past, investors will be informed accordingly about sales. The timing and amount of the distributions will be determined by the depositary bank.