Inovalis REIT - Q2-2018 Earnings Update
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Inovalis REIT (INO.UN) has an interest in 14 properties, of which 7 are entirely owned by the REIT (Baldi, Courbevoie, Jeuneurs, Metropolitain, Sablière and Vanves in France and Hanover in Germany) and seven are held through partnerships with various global institutional funds (Arcueil and Pantin in France, Bad Homburg, Neu-Isenburg, Duisburg,Stuttgartand Köschingin Germany). Eight properties are in France and six properties are in Germany. The total value of properties as of Jun-30-2018 is $572M plus $23M held as cash. This compares to Mar-31-2016 when they held 11 properties, of which 7 are wholly owned and 4 are held through partnerships with various global institutional funds. The total value of properties at Mar-31-2016 was $588M plus $17M of cash.
Inovalis S.A. is a local cross-border French and German real estate asset manager, managing $10B of real estate and financial assets.
Approximately 65.6% of rental income is attributable to French public agency tenants, is guaranteed by large German or international banks, or from investment grade corporations or affiliates of investment grade corporations. This percentage, including properties held through joint ventures, equates to 64.9%
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