Note | | Total 2016 | Per share 2016 | Total 2015 | Per share 2015 |
| | NAV as per the financial statements | 824,201 | 2,640.21 | 738,335 | 2,537.12 |
| | Reclassification of certain IFRS liabilities as components of equity | | | | |
1 | Effect of reclassifying shareholder loans and hybrid capital instruments (including convertible bonds) that represent shareholders long term interests in a vehicle | - | - | - | - |
2 | Effect of dividends recorded as a liability which have not been distributed | - | - | - | - |
| | NAV after reclassification of equity-like interests and dividends not yet distributed | 824,201 | 2,640.21 | 738,335 | 2,537.12 |
| | Fair value of assets and liabilities | | | | |
3 | Revaluation to fair value of investment properties | - | - | - | - |
4 | Revaluation to fair value of self-constructed or developed investment property | - | - | - | - |
5 | Revaluation to fair value of investment property held for sale | - | - | - | - |
6 | Revaluation to fair value of property that is leased to tenants under a finance lease | - | - | - | - |
7 | Revaluation to fair value of real estate held as inventory | - | - | - | - |
8 | Revaluation to fair value of other investments in real assets | - | - | - | - |
9 | Revaluation to fair value of indirect investments not consolidated | - | - | - | - |
10 | Revaluation to fair value of financial assets and financial liabilities | - | - | - | - |
11 | Revaluation to fair value of construction contracts for third parties | - | - | - | - |
12 | Set-up costs | - | - | - | - |
13 | Acquisition expenses | 3,098 | 9.92 | 3,118 | 10.71 |
14 | Contractual fees | - | - | - | - |
| | Effects of the expected manner of settlement of sales/vehicle unwinding | | | | |
15 | Revaluation to fair value of savings of purchaser’s costs such as transfer taxes | - | - | - | - |
16 | Revaluation to fair value of deferred taxes and tax effect of INREV NAV adjustments | - | - | - | - |
17 | Effect of subsidiaries having a negative equity (non-recourse) | - | - | - | - |
| | Other adjustments | | | | |
18 | Goodwill | - | - | - | - |
19 | Non-controlling interest effects of INREV adjustments | - | - | - | - |
| | INREV NAV | 827,299 | 2,650.14 | 741,453 | 2,547.83 |
| | | | | | |
| | Number of shares issued | 312,172 | | 291,013 | |
| | Number of shares issued taking dilution effect into account | 312,172 | | 291,013 | |
| | Weighted average INREV NAV | 780,921 | | 708,147 | |
| | Weigthed average INREV GAV | 795,146 | | 722,499 | |
| | Total Expense Ratio (NAV) | 0.52% | | 0.53% | |
| | Total Expense Ratio (GAV) | 0.52% | | 0.52% | |
| | Real Estate Expense Ratio (GAV) | 0.82% | | 0.91% | |