Valad reports EUR 6 million CEE rental income in 2010

Valad, the European multi-let real estate investment manager, reported nearly EUR 6 million in rental income for the Central European Industrial Fund (“CEIF”) in CEE, with approximately 120,000 sqm of space let. CEIF is asset managed by Valad and fund managed by Aviva Investors through a joint venture which was established in 2005. It invests in multi-let industrial property across Central Europe with a primary focus on Romania, Poland, Hungary and the Czech Republic. Valad’s CEE team, which manages a total of 630,000 sq m for CEIF, across Romania, Hungary, Poland and the Czech Republic, achieved new lettings during 2010 of 38,230 sq m of predominantly warehouse space generating an annualized rental income of over EUR 2.1 million. In the same period it renewed leases on 81,431 sq m with an annualized rental value of EUR 3.8 million. Valad manages 630,000 sq m of space in the CEE and has a team of 16 working out of offices in Romania, Hungary, Poland and the Czech Republic.