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

Office Portfolio

As of December 31, 2018*

Number of Assets

Area (square meters)1

Occupancy

Proforma Occupancy

Weighted Average Lease Term to Expiry (years)

Proforma Weighted Average Lease Term to Expiry (years)

Real Estate Portfolio Value ($ millions)

Real Estate Portfolio Value (% of total)

Contractual Rent (% of total)

Germany

7

74,837

90%

94%

8.0

8.0

333

26%

24%

UK

2

21,758

100%

100%

6.9

6.9

461

37%

34%

France

4

32,059

100%

100%

3.9

3.9

370

29%

32%

Total Office Portfolio

13

128,654

94%

96%

6.1

6.2

1,164

92%

90%

Other Asset Classes2

5

77,230

97%

97%

6.5

6.5

100

8%

10%

Total

18

205,884

95%

97%

6.2

6.2

1,264

100%

100%

 
 

* Based on rent roll. 1) Portfolio areas reflect contractual rentable areas. 2) Other Asset Classes include retail, industrial and hotel (Net lease).

Office Portfolio

As of December 31, 2018*

Number of Assets

Germany: 9

UK: 5

France: 4

Portugal (Held for Sale): 1

Total Office Portfolio: 19

Other Asset Classes2: 5

Total: 24

Area (square meters)1

Germany: 143,404

UK: 28,893

France: 32,089

Portugal (Held for Sale): 4,325

Total Office Portfolio: 208,711

Other Asset Classes2: 77,250

Total: 285,961

Occupancy

Germany: 95%

UK: 100%

France: 100%

Portugal (Held for Sale): 75%

Total Office Portfolio: 96%

Other Asset Classes2: 87%

Total: 94%

Proforma Occupancy

Germany: 95%

UK: 100%

France: 100%

Portugal (Held for Sale): 75%

Total Office Portfolio: 96%

Other Asset Classes2: 97%

Total: 96%

Weighted Average Lease Term to Expiry (years)

Germany: 6.8

UK: 7.1

France: 4.3

Portugal (Held for Sale): 2.0

Total Office Portfolio: 6.3

Other Asset Classes2: 6.8

Total: 6.3

Proforma Weighted Average Lease Term to Expiry (years)

Germany: 6.8

UK: 7.1

France: 4.3

Portugal (Held for Sale): 2.0

Total Office Portfolio: 6.3

Other Asset Classes2: 6.9

Total: 6.4

Real Estate Portfolio Value ($ millions)

Germany: 1,085

UK: 521

France: 366

Portugal (Held for Sale): 14

Total Office Portfolio: 1,986

Other Asset Classes2: 101

Total: 2,087

Real Estate Portfolio Value (% of total)

Germany: 52%

UK: 25%

France: 18%

Portugal (Held for Sale): 1%

Total Office Portfolio: 96%

Other Asset Classes2: 4%

Total: 100%

Contractual Rent (% of total)

Germany: 50%

UK: 24%

France: 19%

Portugal (Held for Sale): 1%

Total Office Portfolio: 94%

Other Asset Classes2: 6%

Total: 100%


 
* Based on rent roll. 1) Portfolio areas reflect contractual rentable areas. 2) Other Asset Classes include retail, industrial and hotel (Net lease).

Portfolio Location

portfolio location