- TOTAL NAV OF 164.8 MLN/€, NET OF REIMBURSEMENT MADE IN DECEMBER 2014 FOR 8 MLN/€
- NAV PER UNIT: 254.9 EURO
- AVERAGE ANNUAL YIELD FROM PLACEMENT DATE: 9.3%
Milan, 29 January 2015 – The Board of Directors of Prelios SGR, held on today’s date, approved the annual report at 31 December 2014 of Tecla - Fondo Uffici, a listed real estate mutual fund.
As already disclosed to the market on 18 December 2014, Prelios SGR Board of Directors resolved upon the extraordinary extension of the Fund term to 31 December 2017 (inclusive) for the purpose of completing the disposition of the assets and, consequently, extended the loan contract term.
From its placement in March 2004, to 31 December 2014 the Fund achieved an average annual yield of 9.3%.
During 2014, the Company continued its activities to increase the value of the assets under its management, by entering into new lease contracts and by renegotiating existing lease contracts. The contracts stipulated in 2014 include renegotiations closed with two leading companies operating in the IT sector, tenants of the properties of Rome and of Turin, respectively. In 2014 the Fund also disposed the residual portion of the property of Ivrea for Euro 1.6 million, with a capital loss of about Euro 250,000 against market value.
From placement date to 31 December 2014, the properties disposed accounted for 56.1% of the total assets, determined on contribution value. The Fund residual real estate asset portfolio includes 20 properties, located all over Italy, mainly with a Core yield/risk profile and a total gross surface of about 240,000 sq m.
NAV is equal to Euro 254.9 per unit, net of the distribution made in December (equal to Euro 12.37 per unit). The Stock price per unit on 31 December 2014 was equal to Euro 125.5. The total NAV of Tecla Fondo Uffici is equal to Euro 164.8 million.
For further information and details on the annual report at 31 December 2014 of the listed fund Tecla – Fondo Uffici reference should be made to the financial notices to be published on 30 January 2015 in the daily newspapers “Corriere della Sera” and “Il Sole 24 Ore”. The aforementioned annual report and the estimate report on the fund’s assets drafted by the independent appraisers will be made available at the offices of Prelios SGR, of Borsa Italiana, of the Depositary Bank State Street Bank S.p.A. and on the website at www.fondotecla.com.