The unit value for SEB ImmoInvest published on 28 February 2017 has declined from EUR 18.79 to EUR 18.75, a drop of EUR 0.04.
The change is largely due to the regular reappraisals of two properties in Finland and one property in the USA.
Since it was not possible to renew expiring leases for the Manhattanville Road property in Harrison, USA, the vacancy rate will rise to approximately 32% of the space this year. The appraiser took this into account during the valuation by prolonging the vacancy period and increasing the discount rate.
In the case of the Finnish properties, the sustainable rent was revised downwards on the basis of new leases signed and the maintenance costs were increased slightly due to the property’s age, leading to a decrease in the market value.