# Letting information as of September 30, 2019
| Country | Germany4) | UK 4) | France | Poland | Spain | Netherlands | Other in Europe | Total4) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Rental properties (number) | 20 | 19 | 11 | 7 | 5 | 6 | 6 | 74 |
| Rental properties (market values in EUR million) | 1,884.4 | 2,127.1 | 1,005.0 | 651.2 | 696.9 | 443.7 | 472.0 | 7,280.3 |
| Types of use according to annual rental income fully let1 |
| Offices & practices | 44.2% | 66.9% | 77.0% | 48.4% | 2.9% | 87.5% | 19.8% | 50.4% |
| Trade/Gastronomy | 35.8% | 10.4% | 7.7% | 33.9% | 86.6% | 1.5% | 74.9% | 32.5% |
| Hotel | 2.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% |
| Warehouse/Logistics | 5.9% | 0.4% | 11.5% | 8.6% | 2.4% | 0.6% | 1.0% | 4.2% |
| Residential | 1.4% | 21.3% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 6.5% |
| Leisure | 0.7% | 0.0% | 0.0% | 1.5% | 6.4% | 0.0% | 1.7% | 1.3% |
| Parking spaces | 6.1% | 0.9% | 1.8% | 5.6% | 0.3% | 10.1% | 2.5% | 3.2% |
| Other | 3.3% | 0.0% | 2.0% | 2.0% | 1.3% | 0.0% | 0.1% | 1.4% |
| Total | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Vacancy (as of reporting date)2 |
| Offices & practices | 0.4% | 0.0% | 2.0% | 4.4% | 0.0% | 4.4% | 1.4% | 1.1% |
| Trade/Gastronomy | 1.4% | 0.3% | 0.3% | 1.5% | 10.5% | 0.0% | 7.2% | 2.5% |
| Hotel | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Warehouse/Logistics | 0.3% | 0.0% | 0.2% | 0.3% | 0.0% | 0.2% | 0.2% | 0.1% |
| Residential | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Leisure | 0.0% | 0.0% | 0.0% | 0.0% | 1.9% | 0.0% | 0.0% | 0.2% |
| Parking spaces | 0.1% | 0.2% | 0.5% | 0.4% | 0.0% | 0.5% | 0.1% | 0.2% |
| Other | 0.0% | 0.0% | 0.4% | 0.0% | 0.2% | 0.0% | 0.0% | 0.1% |
| Occupancy rate | 97.7% | 99.4% | 96.6% | 93.3% | 87.3% | 94.8% | 91.1% | 95.6% |
| Expiring tenancy agreements3 |
| until Dec. 31, 2019 | 4.9% | 2.3% | 0.7% | 5.8% | 1.3% | 0.0% | 8.3% | 3.3% |
| 2020 | 12.2% | 30.2% | 9.3% | 15.3% | 18.1% | 0.9% | 29.0% | 18.9% |
| 2021 | 13.0% | 2.5% | 32.8% | 11.9% | 32.1% | 3.5% | 15.6% | 13.3% |
| 2022 | 11.1% | 2.3% | 13.8% | 19.2% | 20.2% | 2.3% | 13.6% | 9.9% |
| 2023 | 8.4% | 5.4% | 20.8% | 9.8% | 11.3% | 8.9% | 16.7% | 10.1% |
| 2024 | 4.5% | 2.6% | 5.2% | 18.8% | 7.4% | 0.0% | 10.7% | 5.9% |
| 2025 | 19.6% | 3.8% | 4.9% | 8.9% | 3.0% | 5.4% | 2.5% | 8.2% |
| 2026 | 4.8% | 3.4% | 0.0% | 3.6% | 4.3% | 0.0% | 0.8% | 3.0% |
| 2027 | 2.4% | 19.8% | 12.5% | 2.8% | 0.3% | 0.0% | 0.9% | 8.9% |
| 2028 | 1.7% | 4.2% | 0.0% | 0.0% | 0.5% | 7.2% | 0.9% | 2.2% |
| from 2029 | 17.5% | 23.5% | 0.0% | 3.9% | 1.5% | 71.8% | 1.1% | 16.3% |
| Total | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |

- Including contractual rent, rent-free periods and measured vacancy.
- Vacancy rate as measured by target rental income.
- On exercising special termination right.
- Excluding the ongoing “Kelaty 1” project development, Wembley.

Expiring tenancy agreements
On exercising special termination right
| Tenant structure (basis: contractual rent) – by sector |
| --- |
| Consumer goods and retail | 28.8% |
| Banks and financial service providers | 20.7% |
| Corporate/Legal/Tax consulting | 8.1% |
| Residential | 7.1% |
| Hotel/Gastronomy | 3.6% |
| Technology and software | 3.4% |
| Utilities and telecommunications | 3.4% |
| Construction | 2.4% |
| Insurance companies | 1.9% |
| Automotive and transportation | 1.8% |
| Chemical/Pharmaceutical industry | 0.8% |
| Other sectors | 17.9% |
| Total | 100.0% |


## Occupancy situation
Expiring tenancy agreements, as measured by current contrac- tual rent, are illustrated in the charts. In respect of tenancy agreements with special termination rights, the earliest possible ending of the rental agreement is assumed. Presenting the data without taking into account special termination rights illustrates how expiring tenancy agreements work in favor of the contrac- tually secured rental income of the fund.

Translation (ENDE, 2019-09-30):
# Vermietungsinformationen zum 30. September 2019
| Land | Deutschland4) | GB 4) | Frankreich | Polen | Spanien | Niederlande | sonstiges Europa | Gesamt4) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Mietobjekte (Anzahl) | 20 | 19 | 11 | 7 | 5 | 6 | 6 | 74 |
| Mietobjekte (Verkehrswerte in Mio. EUR) | 1.884,4 | 2.127,1 | 1.005,0 | 651,2 | 696,9 | 443,7 | 472,0 | 7.280,3 |
| Nutzungsarten nach Jahressollmietertrag1) |
| Büro & Praxis | 44,2% | 66,9% | 77,0% | 48,4% | 2,9% | 87,5% | 19,8% | 50,4% |
| Handel/Gastronomie | 35,8% | 10,4% | 7,7% | 33,9% | 86,6% | 1,5% | 74,9% | 32,5% |
| Hotel | 2,7% | 0,0% | 0,0% | 0,0% | 0,0% | 0,0% | 0,0% | 0,6% |
| Lager/Logistik | 5,9% | 0,4% | 11,5% | 8,6% | 2,4% | 0,6% | 1,0% | 4,2% |
| Wohnen | 1,4% | 21,3% | 0,0% | 0,0% | 0,0% | 0,2% | 0,0% | 6,5% |
| Freizeit | 0,7% | 0,0% | 0,0% | 1,5% | 6,4% | 0,0% | 1,7% | 1,3% |
| Stellplätze | 6,1% | 0,9% | 1,8% | 5,6% | 0,3% | 10,1% | 2,5% | 3,2% |
| Andere | 3,3% | 0,0% | 2,0% | 2,0% | 1,3% | 0,0% | 0,1% | 1,4% |
| Gesamt | 100,0% | 100,0% | 100,0% | 100,0% | 100,0% | 100,0% | 100,0% | 100,0% |
| Leerstand (stichtagsbezogen)2) |
| Büro & Praxis | 0,4% | 0,0% | 2,0% | 4,4% | 0,0% | 4,4% | 1,4% | 1,1% |
| Handel/Gastronomie | 1,4% | 0,3% | 0,3% | 1,5% | 10,5% | 0,0% | 7,2% | 2,5% |
| Hotel | 0,0% | 0,0% | 0,0% | 0,0% | 0,0% | 0,0% | 0,0% | 0,0% |
| Lager/Logistik | 0,3% | 0,0% | 0,2% | 0,3% | 0,0% | 0,2% | 0,2% | 0,1% |
| Wohnen | 0,1% | 0,1% | 0,0% | 0,0% | 0,0% | 0,1% | 0,0% | 0,0% |
| Freizeit | 0,0% | 0,0% | 0,0% | 0,0% | 1,9% | 0,0% | 0,0% | 0,2% |
| Stellplätze | 0,1% | 0,2% | 0,5% | 0,4% | 0,0% | 0,5% | 0,1% | 0,2% |
| Andere | 0,0% | 0,0% | 0,4% | 0,0% | 0,2% | 0,0% | 0,0% | 0,1% |
| Vermietungsquote | 97,7% | 99,4% | 96,6% | 93,3% | 87,3% | 94,8% | 91,1% | 95,6% |
| Auslaufende Mietverträge3) |
| bis 31.12.2019 | 4,9% | 2,3% | 0,7% | 5,8% | 1,3% | 0,0% | 8,3% | 3,3% |
| 2020 | 12,2% | 30,2% | 9,3% | 15,3% | 18,1% | 0,9% | 29,0% | 18,9% |
| 2021 | 13,0% | 2,5% | 32,8% | 11,9% | 32,1% | 3,5% | 15,6% | 13,3% |
| 2022 | 11,1% | 2,3% | 13,8% | 19,2% | 20,2% | 2,3% | 13,6% | 9,9% |
| 2023 | 8,4% | 5,4% | 20,8% | 9,8% | 11,3% | 8,9% | 16,7% | 10,1% |
| 2024 | 4,5% | 2,6% | 5,2% | 18,8% | 7,4% | 0,0% | 10,7% | 5,9% |
| 2025 | 19,6% | 3,8% | 4,9% | 8,9% | 3,0% | 5,4% | 2,5% | 8,2% |
| 2026 | 4,8% | 3,4% | 0,0% | 3,6% | 4,3% | 0,0% | 0,8% | 3,0% |
| 2027 | 2,4% | 19,8% | 12,5% | 2,8% | 0,3% | 0,0% | 0,9% | 8,9% |
| 2028 | 1,7% | 4,2% | 0,0% | 0,0% | 0,5% | 7,2% | 0,9% | 2,2% |
| ab 2029 | 17,5% | 23,5% | 0,0% | 3,9% | 1,5% | 71,8% | 1,1% | 16,3% |
| Gesamt | 100,0% | 100,0% | 100,0% | 100,0% | 100,0% | 100,0% | 100,0% | 100,0% |

- Inklusive Vertragsmiete, mietfreier Zeiten und bewertetem Leerstand.
- Leerstandsquote gemessen am Sollmietertrag.
- Bei Ausübung des Sonderkündigungsrechts.
- Ohne laufende Projektentwicklung „Kelaty 1“, Wembley.

Auslaufende Mietverträge
bei Ausübung des Sonderkündigungsrechts
| Mieterstruktur (Basis: Vertragsmiete) – nach Branchen |
| --- |
| Konsumgüter & Einzelhandel | 28,8% |
| Bank & Finanzdienstleistung | 20,7% |
| Unternehmens-/ Rechts- und Steuerberatung | 8,1% |
| Wohnen | 7,1% |
| Hotel/Gastronomie | 3,6% |
| Technologie und Software | 3,4% |
| Versorger und Telekommunikation | 3,4% |
| Bau | 2,4% |
| Versicherungsgewerbe | 1,9% |
| Automobil & Transport | 1,8% |
| Chemie/Pharmazeutische Industrie | 0,8% |
| Sonstige Branchen | 17,9% |
| Summe | 100,0% |


## Vermietungssituation
Die Grafiken zeigen die auslaufenden Mietverträge, gemessen an der derzeitigen Vertragsmiete. Bei Mietverträgen mit Sonder- kündigungsrechten wird von der frühestmöglichen Beendigung des Mietverhältnisses ausgegangen. Die Darstellung ohne Berücksichtigung von Sonderkündigungsrechten verdeutlicht, wie sich die Mietvertragsausläufe zugunsten der vertraglich gesicherten Mieteinnahmen des Fonds nach hinten verschieben.