NEPI owns 27 properties in Romania

• In December, they were valued at 297 million Euros

The portfolio of the group New Europe Property Investments (NEPI) includes 33 retail, office and industrial properties in Romania and Germany, with a value of 313.7 million Euros, of which 27 are located in Romania, valued last year at more than 297 million Euros.

The projects owned by the company had a leasable surface of 214,000 square meters, an occupancy rate of 98.2% and an average annual yield of 8.3%, according to the prospectus for its listing on the Bucharest Stock Exchange, (BSE), approved by the Romanian National Securities Commission and quoted by Mediafax.

The retail portfolio includes 11 assets with a total surface of 101,000 square meters, valued at 148.5 million Euros and accounting for 50% of the group"s total gross rental revenue on December 31st, 2010, in Romania and Germany. On this segment, the group owns six assets in Romania, valued at 135 million Euros.

The largest asset in the group"s portfolio is Promenada Mall Brăila, of 53,000 square meters, with its anchor-tenants being Carrefour and Bricostore. The company also owns Retail Park Auchan Piteşti, of 33,000 square meters, rented by Auchan and Bricostore.

NEPI owns 20 properties on the office segment, with a total surface of 84,500 square meters valued at 145.4 million Euros, representing 44% of the gross annual rental income at the end of last year. Most of its office buildings are located in Romania and have a market value of 142.3 million Euros. Only one of the office buildings is located in Germany, more specifically in Munich.

The largest weight in the office portfolio is held by Floreasca Business Park, acquired at the end of last year, and valued at 103.95 million Euros. The other 18 office buildings are part of a portfolio which for the most part has been rented by Raiffeisen Bank in 18 Romanian cities.

The industrial portfolio consists of a property of 23,000 square meters in Râşnov and one used for logistics with a total surface of 4,800 square meters in Bucharest, valued at 17.3 million Euros together, representing 6% of the total gross rental revenue.

Out of the total portfolio of 214,000 square meters of rentable space, at the end of 2010, 3,800 square meters were vacant, the equivalent of 1.8% of the.

At the end of 2010, the company had loans of 177 million Euros, with most of them to be used for Romanian acquisitions, and coming due in 2013-2014.