Arcona Property Fund N.V. completes end 2024 valuations
4 March 2025
Arcona Property Fund (the Fund), a Euronext – listed real estate fund that invests across Central and Eastern Europe, has seen the value of its comparable real estate portfolio decrease by EUR 0.79 million (1.2%) compared to the end of 2023, to a total of EUR 64.4 million. The decline is mainly attributable to the decrease in value of the Romanian EOS office building due to the impending departure of Danone as main tenant. The valuation was carried out by external appraisers and includes exchange rate effects.
Property portfolio value
The comparable real estate portfolio as of the end of 2024 excludes the leasehold asset in Bydgoszcz, Poland, and the land parcel Kyianovski Lane in Ukraine acquired at the end of 2024. The leasehold tenure at Bydgoszcz has expired and negotiations on compensation are currently under way.
The value of the two Czech office buildings shows the largest increase, of 5.0%. The Polish real estate valuations, covering ten shopping centres and one office building, increased slightly by 0.2%. Both the Slovakian office building (-/- 7.2%) and the Romanian real estate holdings (-/- 14.8%) decreased in value. The decrease in Romania is largely due to the impending departure of Danone from the EOS office building.
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Arcona Property Fund N.V. completes end 2024 valuations 4 March 2025 |
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