Between H119 and H120 FCR Immobilien expanded its real estate portfolio from 64 properties to 83, with most properties added in H219. Consequently, its rental income (including hotel revenue) improved by c 30% y o y to €12.5m in H120. Management now guides to a rental and hotel revenue increase of 31% y-o-y to €28.3m in FY20 (not accounting for further property acquisitions). Moreover, it expects a property disposal volume of €30-40m this year, which implies a strong pick-up in activity in H220 vs H120 when FCR sold properties worth €5.1m. Together with successful completion of the current bond offering, portfolio realisations would provide the funds to fuel further property acquisitions.Den vollständigen Artikel lesen ...