June 16, 2020 / 5:24 AM / 21 days ago

BRIEF-NSI Expects End-Q2 Vacancy Rate At 7.9%, Up On Q1

June 16 (Reuters) - NSI NV:

* ANNOUNCES THAT AS PER YESTERDAY, JUNE 15, IT HAS RECEIVED 94.1% OF RENT INVOICED FOR Q2 2020

* TOTAL AMOUNT INVOICED FOR Q2 IS APPROXIMATELY EUR 25.4 MILLION

* RECENT RELAXATION OF CORONAVIRUS-RELATED MEASURES IN NETHERLANDS HAVE RESULTED IN A CHANGE IN SENTIMENT AMONGST MANY RETAIL OPERATORS

* WE HAVE EXPERIENCED A SMALL NUMBER OF CORONAVIRUS-RELATED LEASE TERMINATIONS AND TENANT BANKRUPTCIES IN Q2

* THAT MAKE US BELIEVE THAT RENT COLLECTION IN RETAIL SEGMENT WILL PROBABLY BE BETTER FOR Q3

* 1.8% OF RENT STILL IN DISCUSSIONS, MAJORITY OF WHICH SHOULD BE RESOLVED BEFORE THE END OF Q2

* WE EXPECT TO END THE QUARTER WITH A VACANCY RATE OF APPROXIMATELY 7.9%, MARGINALLY UP ON Q1

* WE HAVE SEEN SOME CORPORATES PUT LEASING DECISIONS ON HOLD TEMPORARILY

* ONE-OFF CHARGE OF EUR 0.4 MILLION IN Q2 WILL NEGATIVELY IMPACT EPRA EPS

* HAVE A GOOD PIPELINE OF FUTURE LEASE CONTRACTS SET TO START IN H2 2020

* Q2 VALUATIONS IN CONCEPT: INITIAL DATA APPEARS TO SUGGEST A 3-5% FALL IN CAPITAL VALUES FOR THE PORTFOLIO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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