Brief: NSI Expects End-Q2 Vacancy Rate At 7.9%, Up On Q1

NSI NV

16/06/2020 06:23

June 16 (Reuters) - NSI NV  NSTEc.AS :
    * ANNOUNCES THAT AS PER YESTERDAY, JUNE 15, IT HAS RECEIVED
94.1%
OF RENT INVOICED FOR Q2 2020
    * TOTAL AMOUNT INVOICED FOR Q2 IS APPROXIMATELY EUR 25.4
MILLION
    * RECENT RELAXATION OF CORONAVIRUS-RELATED MEASURES IN
NETHERLANDS
HAVE RESULTED IN A CHANGE IN SENTIMENT AMONGST MANY RETAIL
OPERATORS
    * WE HAVE EXPERIENCED A SMALL NUMBER OF CORONAVIRUS-RELATED
LEASE
TERMINATIONS AND TENANT BANKRUPTCIES IN Q2
    * THAT MAKE US BELIEVE THAT RENT COLLECTION IN RETAIL
SEGMENT WILL
PROBABLY BE BETTER FOR Q3
    * 1.8% OF RENT STILL IN DISCUSSIONS, MAJORITY OF WHICH
SHOULD BE
RESOLVED BEFORE THE END OF Q2
    * WE EXPECT TO END THE QUARTER WITH A VACANCY RATE OF
APPROXIMATELY 7.9%, MARGINALLY UP ON Q1
    * WE HAVE SEEN SOME CORPORATES PUT LEASING DECISIONS ON HOLD
TEMPORARILY
    * ONE-OFF CHARGE OF EUR 0.4 MILLION IN Q2 WILL NEGATIVELY
IMPACT
EPRA EPS
    * HAVE A GOOD PIPELINE OF FUTURE LEASE CONTRACTS SET TO
START IN
H2 2020
    * Q2 VALUATIONS IN CONCEPT: INITIAL DATA APPEARS TO SUGGEST
A 3-5%
FALL IN CAPITAL VALUES FOR THE PORTFOLIO

Source text for Eikon:  ID:nNDL29plcm 
Further company coverage:  NSTEc.AS 

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