Varia US Properties with a loss of USD 139 million

The total income of Varia US Properties decreased from USD 188.4 million to USD 146.4 million in 2023. Lower gains on sales meant that EBITDA halved from USD 88.2 million to USD 44.2 million. A revaluation loss totaling USD 174.3 million (previous year: profit of USD 153.7 million) led to a net loss of USD 139.0 million (previous year: profit of USD 122.6 million)

In 2023, ten properties with 2,524 apartments were sold for a total of USD 266.3 million. The total value of the portfolio fell from USD 1.7 billion to USD 1.3 billion over the course of the year. (aw)