Highlights

Vastned continues to deliver a solid operational performance
Occupancy rate remains at high level of 98.9% (99.0% in Q4 2023)
12 New leases signed
Vastned divested assets for € 118.3 million, including the Rokin Plaza for € 100 million after Q1 2024
Outlook full year 2023: Expected direct result of € 1.75 to € 1.85 per share
Vastned has announced earlier this morning the intention to merge its Belgian and Dutch entities in a reverse cross-border merger
Hoofddorp, 16 May 2024 – Vastned, the listed European retail property company continues to deliver solid operational results, with a continued high occupancy rate. At the same time, the company has delivered on its strategic actions. The company has successfully secured a bridge financing to cover the 2024 maturities and has since divested € 118.3 million of assets, including the € 100 million divestment of Rokin Plaza. In a separate announcement earlier this morning Vastned and Vastned Belgium have announced their intention for a reverse cross-border merger. The company expects the direct result per share for 2024 to be in the range of € 1.75 and € 1.85.

“During the first quarter of 2024 we have successfully delivered on our strategic actions. With a careful approach we have taken significant steps in shaping the future of Vastned. While simultaneously addressing our refinancing needs for 2024 by obtaining a bridge financing from our relationship banks ABN AMRO and Rabobank, significant divestments were done to improve the balance sheet and financial ratios.



We decided to divest Rokin Plaza as this allowed us to not only lower the risk of one single large asset in our diversified portfolio, but also to improve our financial ratios and reduce our refinancing requirements significantly with a single transaction. Another notable transaction that we have concluded after the end of the first quarter is the sale of PC Hooftstraat 49-51 in Amsterdam were there was an opportunity to sell this relatively low yielding asset against the right price.



The announced intention from Vastned Retail and Vastned Belgium to propose a reverse cross-border merger should create a new Vastned that is ready for the future.”

Reinier Walta, CEO Vastned
Vastned is a European publicly listed property company (Euronext Amsterdam: VASTN) focusing on the best property in the popular shopping areas of selected European cities with a historic city centre where shopping, living, working and leisure meet. Vastned’s property clusters have a strong tenant mix of international and national retailers, food & beverage entrepreneurs, residential tenants, and office tenants. The property portfolio had a size of approximately € 1,373 million as at 31 December 2023.

see & read more on
https://press.vastned.com/trading-update-q1-2024/