Unibail-Rodamco, Europe’s biggest property investor, wrote off EUR 1.9 bn or 8.2% on its portfolio in the first half of 2009, valuing its assets at EUR 22.8 bn, the company reported on Wednesday. The devaluation brings the total asset write-down over the last 12 months to EUR 3.7 bn or 16%. Excluding positive H1 rental income growth, the writedown for the past year comes to EUR 4.7 bn, or 20% of the portfolio.
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.
