The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andre Remke - - Analyst
: Yes, good afternoon, sir. Thanks for the presentation and also the paper today. Basically three questions. And starting with the first on the opportunistic
disposals you mentioned, could you give us any indication of the potential volume of the smaller assets and mature assets? And what is your
strategy to sell these properties in light of the repayment of EUR50 million each of next year and the year after.
So to keep them as long as possible to safeguard rental income or to sell them as soon as possible to reduce leverage. This is the first question,
please.
Question: Andre Remke - - Analyst
: Okay. But if you plan to repay EUR50 million if you have to sell more than EUR50 million from the asset side, I'm right in assuming that because the
cash flow of the company will weaken even further future as a high financing costs. So virtually no free cash flow from operating it's business, I
would guess.
Question: Andre Remke - - Analyst
: Okay, fair enough.
Question: Andre Remke - - Analyst
: Okay, good to hear. And the second question is on your portfolio valuation. I guess in this process of the bond refinancing, there are have been
done a lot of valuations. I'm not sure whether the year end '23 valuation is the basis for all of that.
So my question is, do you expect any further write-downs on the portfolio towards year end or would you say all is reflected already from today's
point of view?
Question: Andre Remke - - Analyst
: Okay. Perfect. And then you mentioned the bond, the LTV, of course, will go down. Could you give us some LogPark number year after the refinancing
and what would be the EPRA net LTV, because [ARR] is due to the show on our own probably no reduction. It's the right assumption?
Question: Andre Remke - - Analyst
: Okay. Thank you. And then probably a very last question on your operating business. The high vacancy of 15.5% and you already mentioned
negotiated contracts will which will kick in. What is the amount year and what amount of investment for the remainder is probably needed to
stabilize or to lower the vacancy too, let's say 10% or below?
Question: Andre Remke - - Analyst
: Okay. And that is the question on potential investment. Do you more in general -- do you need more investments into the properties to lower the
vacancy?
Question: Andre Remke - - Analyst
: Okay. Perfect. That's from my side. Thank you very much.
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