Vitura: Activity at end-March 2024
May 15 2024 - 1:30AM
Business Wire
Regulatory News:
VITURA (Paris:VTR):
- Rental income of €10.9 million
- Leases signed on 10,000 sq.m during the quarter
- Continuation of repositioning programs
Unaudited figures.
Rental activity driven by repositioned, sustainable
campuses
In first-quarter 2024, operating momentum continued with the
completion of three major transactions, representing a total
surface area of 10,000 sq.m or 7% of the total surface area of
assets in operation1. The transactions were mainly lease renewals
and extensions at Europlaza and Arcs de Seine, as well as the
arrival of a first-time tenant at Rives de Bercy, less than three
months after completion of the Charenton-le-Pont campus. A lease
for a fixed six-year term on 5,600 sq.m of space at Rives de Bercy
– almost 20% of the property – has been signed with a major French
industry player. The new tenant began preparing the property for
their move in March, aiming to welcome its teams in the third
quarter of 2024.
The occupancy rate of buildings in operation was 82% at March
31, 2024, and 69% including the 31,000 sq.m Rives de Bercy campus,
delivered at the end of 2023.
_________________________________ 1 The property portfolio is
divided into buildings in use and assets undergoing repositioning.
The delivery of Rives de Bercy at the end of 2023 brings the total
number of buildings in use to four. As from January 1, 2024, only
Office Kennedy and Passy Kennedy are vacant and undergoing
redevelopment work.
Key figures
Vitura’s IFRS rental income was €10.9 million for the three
months ended March 31, 2024, compared with €12.7 million for the
same period in 2023. The positive impact from recently signed
leases and index-linked rent increases was offset by the impact of
tenants leaving in 2023, particularly at Passy Kennedy and Office
Kennedy, which were vacated in view of the project to combine the
two buildings within a single 34,000 sq.m complex. The complex,
located in Paris' extended CBD with wide views over the Seine, will
offer a broad range of upscale amenities – food services, a gym,
wellness and social areas, and facilities encouraging low-carbon
mobility – and meet the highest environmental standards. Vitura has
already obtained a building permit for this ambitious project. The
new financing (debt and capital) will cover the works program, the
refinancing of the two outstanding loans, and financing costs. The
maturity of the €140 million debt for the Passy Kennedy building
has been extended to June 30, 2024 so that an agreement can be
reached on this new financing.
The Universal Registration Document comprising the 2023 annual
financial report was filed with the French financial markets
authority (Autorité des marchés financiers – AMF) on April 29, 2024
and is available on Vitura's website.
Investor Calendar
- June 19, 2024: General Shareholders’ Meeting
About Vitura
Created in 2006, Vitura is a listed real estate company (“SIIC”)
that invests in prime office properties in Paris and Greater Paris.
The total value of the portfolio was estimated at
€1,307 million at December 31, 2023 (excluding
transfer duties).
Thanks to its strong commitment to sustainable development, the
Company's leadership position is recognized by ESG rating agencies.
Vitura has held a GRESB (Global Real Estate Sustainability
Benchmark) 5-star rating since 2014 and has been ranked world
number 1 (Global Sector Leader) in the listed office property
companies category four times. It has also received two Gold Awards
from the European Public Real Estate Association (EPRA) for the
quality and transparency of its financial and non-financial
reporting. Vitura is ISO 14001-certified.
Vitura is a REIT listed on Euronext Paris since 2006, in
compartment B (ISIN: FR0010309096).
Visit our website to find out more: www.vitura.fr/en
Find us: LinkedIn / Twitter
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version on businesswire.com: https://www.businesswire.com/news/home/20240514501116/en/
For more information, please contact: Investor Relations
Charlotte de Laroche info@vitura.fr +33 1 42 25 76 38 Media
relations Aliénor Miens alienor.miens@margie.fr +33 6 64 32 81
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