However, distributable income for the nine months fell by 4.6% y-o-y to EUR57.6 million due to the full impact of asset divestments and higher interest expense, which SERT’s manager says has peaked.
Stoneweg Europe Stapled Trust has reported gross revenue of EUR163.5 million ($245.5 million) for the 9MFY2025 ended Sept 30.
Net property income (NPI) for the period was up by 3% y-o-y to EUR102.9 million. The higher gross revenue was attributed to positive leasing activity while the increase in NPI was due mainly to higher income from Nervesa21 and Via dell’Industria 18 after their redevelopments. The higher NPI was also attributed to lower doubtful debt expense, and growth in the trust’s logistics and light Industrial and ‘others’ portfolios.
