STE: financial estimates for end 2024

(CercleFinance.com) - Société de la Tour Eiffel (STE) estimates that the fair value of its real estate assets could fall by around 6% on a like-for-like basis in 2024, "reflecting current market conditions and efforts to reposition the portfolio".


Taking into account financial leverage (LTV of 44.5% and EPRA LTV of 62.9% at June 30, 2024), estimates of the change in fair value and earnings for the year, the impact on the various net asset values (NAV) would be a fall of around 15 to 20%.

In a still tense rental market, STE expects the financial occupancy rate (EPRA) at the end of 2024 to fall by around two points year-on-year to 76%, a decline mainly due to disposals and the Nanturra business hotel delivered at the end of November.

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