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Ado increases FFO by 21%, raises forecast slightly
Ado Properties, which focuses on residential real estate in Berlin, has reported 1st-quarter rental income of €31.3mn, a 23.7% increase. Rents climbed by 4.9%, excluding acquisitions. This increased Ado’s FFO by 21.4%, to €15.9mn. The end-of-quarter average actual rent in the residential portfolio came to €6.49/sqm, while the vacancy rate improved slightly, falling from 3.6% to 3.5%. The portfolio is now valued at €3.4bn, €45mn more than at the end of last year. Ado has increased its FFO forecast for the year to €66mn, up from €64mn, when the 2017 financial figures were released in March.
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