We focus predominantly on investing in prime office properties in our core markets of Germany, the United Kingdom and France. We believe these are not only the largest economies in Europe, but the largest, most established, liquid and among the most stable office markets in Europe.

Portfolio Overview

 

Core Portfolio

As of June 30, 2017*

Number of Properties

Area (square meters)

Weighted Average Lease Term to Expiry (years)

Proforma Weighted Average Lease Term to Expiry1 (years)

Occupancy

Proforma Occupancy1

% of Rental Income (based on rent roll)

Market ($ in millions)

Market Value (% of total)

Germany

11

154,294

7.4

7.6

89%

94%

43%

989

46%

UK

5

46,520

6.7

6.7

99%

99%

25%

567

27%

France

4

32,075

3.8

3.8

100%

100%

17%

343

16%

Total Core

20

232,888

6.5

6.6

93%

96%

85%

1,899

89%

Other

7

118,626

2.8

5.7

65%

65%

15%

237

11%

Total

27

351,514

5.9

6.5

83%

86%

100%

2,136

100%


 
*As of June 30, 2017. Adjusted for sales through July 31, 2017. 1) Proforma occupancy and weighted average remaining contractual lease term based on rent roll as of June 30, 2017, adjusted for new leases signed, but commencing through remainder of 2017 and early 2018

Portfolio Overview

As of June 30, 2017*

Number of Properties

Germany: 11

UK: 5

France: 4

Total Core: 20

Other: 7

Total: 27

Area (square meters)

Germany: 154,294

UK: 46,520

France: 32,075

Total Core: 232,888

Other: 118,626

Total: 351,514

Weighted Average Lease Term to Expiry (years)

Germany: 7.4

UK: 6.7

France: 3.8

Total Core: 6.5

Other: 2.8

Total: 5.9

Proforma Weighted Average Lease Term to Expiry1 (years)

Germany: 7.6

UK: 6.7

France: 3.8

Total Core: 6.6

Other: 5.7

Total: 6.5

Occupancy

Germany: 89%

UK: 99%

France: 100%

Total Core: 93%

Other: 65%

Total: 83%

Proforma Occupancy1

Germany: 94%

UK: 99%

France: 100%

Total Core: 96%

Other: 65%

Total: 86%

% of Rental Income (based on rent roll)

Germany: 43%

UK: 25%

France: 17%

Total Core: 85%

Other: 15%

Total: 100%

Market ($ in millions)

Germany: 989

UK: 567

France: 343

Total Core: 1,899

Other: 237

Total: 2,136

Market Value (% of total)

Germany: 46%

UK: 27%

France: 16%

Total Core: 89%

Other: 11%

Total: 100%


 
*As of June 30, 2017. Adjusted for sales through July 31, 2017. 1) Proforma occupancy and weighted average remaining contractual lease term based on rent roll as of June 30, 2017, adjusted for new leases signed, but commencing through remainder of 2017 and early 2018

Portfolio Location

TargetMarkets

Representative Investments

Boulevard MacDonald, Paris

Boulevard MacDonald, Paris

Maastoren Building, Rotterdam

Maastoren Building, Rotterdam

Avenue Marceau, Paris

Avenue Marceau, Paris

Uhlandstrasse, Frankfurt

Uhlandstrasse, Frankfurt

Portman Square, London

Portman Square, London

Parexel, Berlin

Parexel, Berlin

Trianon Tower, Frankfurt

Trianon Tower, Frankfurt

Issy les Moulineaux, Paris

Issy les Moulineaux, Paris

Condor House, London

Condor House, London