Property investment fund Intervest Retail has known an active fourth quarter 2007 with the sale of its outlet center "Factory Shopping Messancy" and the acquisition of a portfolio of 21 retail warehouses which are mainly let to the interior decoration specialist Decor Heytens.
The reason Factory Shopping Messancy has been sold, is that the outlet center had a negative operating result and that no improvement was to be expected, in spite of the commercial efforts of the property investment fund. With this disinvestment a very important step has been taken for the improvement of the yield of the property investment fund. In spite of the realised capital loss, the sale has indeed a considerable positive effect on the dividend that Intervest Retail can distribute to its shareholders. The property investment fund expects with this sale that the distributable result in 2008 will increase with about