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LEG Immobilien H1 FFO I rises 9.3% YOY

German multifamily investor LEG Immobilien AG said its funds from operations I for the first half amounted to €2.71 per share, a gain of 9.3% from €2.48 per share in the prior-year period.

FFO I totaled €171.0 million, an increase of 9.3% from €156.4 million in the prior-year period.

The company affirmed its forecast FFO I in the range of €338.0 million to €344.0 million for 2019, and between €356.0 million and €364.0 million for the 2020 full year.

The company's average in-place rent rose 2.9% annually on a like-for-like basis to €5.77 per square meter.