Decrease in unit price on 8 March 2016

SEB ImmoInvest’s unit value fell by 36 cents on 8 March 2016, declining from EUR 25.52 to EUR 25.16.

This is largely due to the follow-up appraisals for a property in Italy (Rome) and four properties in the Netherlands.

The property at Via Laurentina 449/Via del Serafico 49-61, Rome, which comprises a total of five buildings and two annexes with approximately 46,895 sqm of rental space, was revalued following completion of all the renovations. Since the sole tenant is unlikely to extend the lease, this had to be reflected in the appraisal. Against this background, the appraiser both adjusted the sustainable rent and increased the discount rate by 15 basis points due to the difficult office market in Rome.

The decrease in the value of the Bergschot 69 property in Breda resulted firstly from the increase in vacancies and secondly from the difficult market situation in the Dutch regional locations, which is reflected in the discount rate.

The Dokter van Deenweg 162 property in Zwolle, which has approximately 6,700 sqm of space, is leased to a tenant until 2018. Due to the fact that the tenant isn’t using the building, the appraiser in this case also reduced the sustainable rent to the current market level and increased the discount rate by 30 basis points.

The sustainable rent for the Burgemeester Roelenweg 10/14A property in Zwolle was reduced to reflect the ongoing high vacancy rate of roughly 40%, while the discount rate was increased by 20 basis points as a result of the market situation.

The value of the Nijmegen property in Jonkerbosplein 52, a landmark building with approximately 23,850 sqm of space, was also reduced. Here, too, the ongoing high vacancy rate (which in fact increased year-on-year) was taken into account by adjusting the sustainable rents, while the discount rate was increased in view of the longer vacant period and the difficult market Situation.