Most important developments third quarter
In the quarterly report, Triodos Vastgoedfonds looks back on the third quarter, in which the fund announced that it had sold the real estate portfolio above book value for a gross amount of EUR 117 million (excluding costs to sell the portfolio) and it made an interim payment to shareholders of EUR 2.60 after repayment of outstanding loans and settlement of costs.

By soing so, Triodos Vastgoedfonds has made important steps in the process to end the fund’s activities. A next step is the formal decision to dissolve the fund. This decision will be proposed to the shareholders in the fund during an Extraordinary General Meeting of Shareholders, which will take place on 29 October 2019.

Financial results
The quarterly report also focuses on the financial results of Triodos Vastgoedfonds in the third quarter of 2019. During the first three quarters of 2019, the gross rental income rose from EUR 4.3 million (YTD 2018) to EUR 5.5 million (YTD 2019). Property expenses increased from EUR 573,000 (YTD 2018) to EUR 905,000 (YTD 2019). As a result, net rental income increased from EUR 3.6 million to EUR 4.6 million.

The interest costs increased significantly from EUR 0.6 million (YTD 2018) to EUR 4.1 million (YTD 2019). This is partly due to the breaking costs of 2.9 million (YTD 2019) and partly due to the increase of the loans during 2018 and 2019.

Full quarterly report
The full quarterly report, including an explanation of the most important developments and detailed figures, can be as a downloadable PDF on the right.