Stoneweg E-REIT's portfolio value up 0.3% in H2

It was driven by rental growth and lower risk-free rates.

Stoneweg EREIT Management Limited, the manager of Stoneweg European Real Estate Investment Trust (SERT), announced a 0.3% rise in its portfolio value as of 31 December 2024, bringing the total portfolio valuation to $3.16b (€2,241.8m).

The increase, totalling $9.74m (€6.9m), was driven by driven by stabilising market conditions in Europe, rental growth, lower risk-free rates, and improved financing conditions across select asset classes.

Taking into account capital expenditures during the period, outstanding debt, and other factors, the proforma unaudited Net Asset Value (NAV) per unit is expected to be approximately $2.89 (€2.05), with a net gearing ratio of 40.2% as of 31 December 2024.

“Our strategy to pivot the portfolio to majority exposure to the logistics and light industrial sectors continued to benefit SERT's portfolio and is now 55% of the total portfolio allocation weight,” said CEO Simon Garing.

“This sector recorded a valuation gain of $41.77m(€29.6m) (+2.4%) compared to the 30 June 2024 valuations, which were, in turn, up 2.0% in 1H 2024,” he added.

Looking ahead, SERT expects a tightening of yields for logistics and office assets across Europe and further ECB rate cuts in 2025, supporting continued valuation improvement. SERT also remains focused on sustainable growth and trades at a 24% discount to the proforma unaudited NAV of $2.89 (€2.05)/unit.

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