THE value of property in the Matrix European Real Estate Investment Trust (REIT) rose to £558.4m by September 30, 2007, an increase of £32.1m over the quarter.
The growth in the portfolio derived primarily from an investment of £10.7m in an office development in Montpellier, France, and the impact of the Euro's strengthening. The French asset, due for completion in January 2008, has been 77pc pre-let, with the remaining vacant space subject to a 12-month rent guarantee. Matrix has also committed to a further £4.2m development on the same business park, with the funds already committed, subject to successful application for planning permission. The basic NAV per share, meanwhile, rose by 3.5pc to 651p, while the adjusted NAV per share was up ...
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