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EPRA NNNAV
EPRA Cost Ratio
(€ thousands)
31/12/15
EPRA NAV
3,181,246
Includes:
MtM Derivatives
(48,750)
Deferred tax assets
(239,168)
Cost of debt
33,103
EPRA NNNAV
2,926,431
(€ thousand)
31/12/15
Property expenses not recharged to tenants
(10,236)
Incentives
(2,363)
Collection loss
(336)
Personal expenses
(15,710)
General expenses recurring
(3,808)
General expenses non-recurring
(25,439)
Joint ventures attributable expenses
-
Exclude:
Investment property depreciation
-
Ground rent costs
-
Service charge costs recovered through rents but not invoiced separately
-
Expenses related to 3rd party asset management services (Gesfontesta)
1,799
EPRA Cost ratio (including direct vacancy costs)
(56,093)
Costes directos de desocupación
-
Costes EPRA (excluyendo costes directos de desocupación)
(57,899)
Gross rents less ground rent costs
214,454
Less: service fee if part of Gross rentas
-
Add: share of Joint Ventures
-
Gross rental income
214,454
EPRA Cost Ratio (excluding general expenses non-recurring)
14.3%