Land Securities reported on Wednesday that the value of its portfolio fell by £4.7 bn (EUR 5.2 bn) or 34% in the 12 months to end-March 2009. The largest real estate investment trust (REIT) in the UK booked a pre-tax loss of £4.7 bn compared to a loss of £988 mln in the same period the year before. Adjusted net asset value per share was down 66% at 593p from 1763p a year earlier.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
