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LONDON (Alliance News) - Globalworth Real Estate Investments Ltd Monday said it has concluded around EUR360 million worth of transactions and leased around 50,000 square metres since its initial public offering in July, while its current portfolio open market value is EUR487.9 million.
In a trading update the property firm said the commercial element of its current portfolio has occupancy of 77.7% with 74.5% of net operating income derived from multinational tenants with a weighted averaged lease length of 6.5 years.
Globalworth said its loan to value ratio stood at 49.9% on March 21, with around half of the debt expiring in 2018 or later.
The company also completed the acquisition of the Initial Portfolio and Founder Pipeline, which owns eight properties in Bucharest, for EUR152 million in cash and shares.
The stock was trading at 5.30 pence Monday morning, down 0.07 pence or 1.4%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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