Cap-Ex: Up, Up, and Away!
This excerpt is from a special report published 7 July 2017
Green Street’s pan-European study of 20 shopping centres during the past 15 years demonstrates that maintenance capital expenditure (‘Cap-Ex’) incurred has been both widely misunderstood and underestimated. Findings are 3x as high as recent "rule-of-thumb" guidance of 5% of NRI provided by REIT executives. Green Street’s Cap-Ex reserves rise to 15% of rent for UK and 17% for Continental European shopping centres. Learn more about typical Cap-Ex allocation and what Cap-Ex injections ultimately contribute to a property’s value when you request the excerpt below. Clients of Green Street have access to the full report which outlines the methodology employed and IRR projections for our pan-European retail coverage universe.