STE: financial estimates for end-2024
(CercleFinance.com) - Société de la Tour Eiffel (STE) estimates that the fair value of its real estate assets could fall by around 6% LFL in 2024, reflecting current market conditions and efforts to reposition the portfolio.
Taking into account financial leverage (LTV of 44.5% and EPRA LTV of 62.9% at 30 June 2024), estimates of the change in fair value and earnings for the year, the impact on the various net asset values (NAV) would be a negative -15% to -20%, or therabouts.
In a rental market that remains tense, STE expects the financial occupancy rate (EPRA) at end-2024 to fall by around two points y-o-y to 76%, a decline mainly due to disposals and the Nanturra business hotel delivered at the end of November.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Taking into account financial leverage (LTV of 44.5% and EPRA LTV of 62.9% at 30 June 2024), estimates of the change in fair value and earnings for the year, the impact on the various net asset values (NAV) would be a negative -15% to -20%, or therabouts.
In a rental market that remains tense, STE expects the financial occupancy rate (EPRA) at end-2024 to fall by around two points y-o-y to 76%, a decline mainly due to disposals and the Nanturra business hotel delivered at the end of November.
Copyright (c) 2024 CercleFinance.com. All rights reserved.