Following on from €105 million of new investments during the first half of the year, the acquisition of Locafimo at the year end (a portfolio of 35 properties totalling 300 000 m² valued at €285 million) extended the companys portfolio to €705 million of commitments (of which €620 million is up and let).
Despite a highly competitive environment, S.T.E. has adapted its acquisition strategy to retain returns whilst doubling in size. In December 2005, a one for one share capital increase through a discounted offering at a price of 62 per share was taken up by 99% of existing shareholders.
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Source: Société de la Tour Eiffel