StockMarketWire.com - Property investor Schroder European Real Estate Investment Trust said the value of its portfolio had risen in the September quarter.

The company's direct property portfolio was independently valued at €201.1 million, reflecting a like-for-like increase quater-on-quarter of 1.1%, or €2.2 million.

The figure excluded the impact of two recently announced acquisitions in Nantes and St Cloud.

In addition, the company has a 50% interest in a joint venture in Seville, which continued to be recognised at nil interest.

The valuation increase was driven, in part by an improved yield re-rating at a Hamburg office investment, delivering a valuation increase of €1.2 million, or 5.5%.

About 95% of rent due for the quarter ended 30 September had been collected, marking an increase on the March (92%) and June (94%) quarters.


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