Statement of financial position in accordance with INREV valuation principles

Before appropriation of result, all amounts in € thousands

As at 31 December			2015			2014
	IFRS	Adjustment	INREV	IFRS	Adjustment	INREV
Assets
Non-current assets
Investment property	765,613	-	765,613	446,309	-	446,309
Investment property under construction	12,711	-	12,711	207,867	-	207,867
	778,324	-	778,324	654,176	-	654,176

Current assets
Trade and other current receivables*	1,285	3,098	4,383	16,669	4,518	21,187
Cash and cash equivalents	53,311	-	53,311	19,002	-	19,002
	54,596	3,098	57,694	35,671	4,518	40,189
Total assets	832,920	3,098	836,018	689,847	4,518	694,365

Equity
Equity attributable to the owners of the Fund
Total equity	824,201	3,098	827,299	670,322	4,518	674,840

Current liabilities
Trade and other payables	3,847	-	3,847	13,573	-	13,573
Rent invoiced in advance	4,393	-	4,393	4,873	-	4,873
Tenant deposits	479	-	479	1,079	-	1,079
Total liabilities	8,719	-	8,719	19,525	-	19,525
Total equity and liabilities	832,920	3,098	836,018	689,847	4,518	694,365