Statement of financial position in accordance with INREV valuation principles

Before appropriation of profit, All amounts in € thousands


As at 31 December			2014			2013
	IFRS	Adjustment	INREV	IFRS	Adjustment	INREV
Assets
Non-current assets
Investment property	446,309		446,309	459,830		459,830
Development property	207,867		207,867	146,945		146,945
Financial assets	-		-	525		525
Other non-current receivables	-		-	-		-
	654,176		654,176	607,300		607,300

Current assets
Trade and other current receivables*	16,669	4,518	21,187	467	3,355	3,822
Cash and cash equivalents	19,002		19,002	7,758		7,758
	35,671	4,518	40,189	8,225	3,355	11,580
Total assets	689,847	4,518	694,365	615,525	3,355	618,880

Equity
Equity attributable to the owners of the Fund
Total equity	670,322	4,518	674,840	605,784	3,355	609,139

Current liabilities
Trade and other payables	13,573		13,573	4,864		4,864
Rent invoiced in advance	4,873		4,873	4,497		4,497
Tenant deposits	1,079		1,079	380		380
Total liabilities	19,525		19,525	9,741		9,741
Total equity and liabilities	689,847	4,518	694,365	615,525	3,355	618,880

* The INREV adjustment in the trade and other current receivables is netted.

Financial overviews in accordance with INREV valuation principles