After a disastrous year in the financial markets in 2008, 2009 was the year of the aftermath. Amid widespread corporate restructuring, Corio maintained a firm course and showed great resilience throughout the year. A major focus for us, as with all companies, was our balance sheet and the need to secure our longer term funding at sustainable rates. Even for highly respected companies like Corio this was a challenge as the availability of funding in the market shrank to near zero and any financing that could be obtained came at a high price.
Add to My report
To view the top ten value, click below.
Add to My report
The value of the retail portfolio including investments in the pipeline in the Netherlands fell to € 1,881.7 million at year end 2009 from € 1,914.4 million a year earlier. A total of € 81.3 million was invested in the portfolio and pipeline. Investments in the operational portfolio related mainly to Alexandrium I in Rotterdam (€ 2.0 million). The pipeline investments of € 61.9 million mainly related to Middenwaard in Heerhugowaard (€ 19.7 million), De Mare in Alkmaar (€ 18.3 million), ’t Circus in Almere (€ 6.0 million, Metropole in Almere (€ 3.4 million), Cassandraplein in Eindhoven (€ 3.2 million) and Maaswijk in Spijkenisse (€ 3.4 million). In the course of the year Corio took into operation ’t Circus in Almere, the refurbished Cassandraplein in Eindhoven and the refurbished De Mare in Alkmaar, as well as parts of Middenwaard in Heerhugowaard.
Add to My report
The theoretical rent of the Dutch retail portfolio fell 0.9% to € 137.4 m. The first full year of operation of Pieter Vreedeplein in Tilburg as well as the reopening of Cassandraplein in Eindhoven and De Mare in Alkmaar balanced the effects of the disposal of a number of small retail projects in 2008 and 2009.
Add to My report
The theoretical rent of the French retail portfolio rose by 17.1% to € 107.4 million from € 91.7 million.
Add to My report