Qrf : continues its city acquisition strategy in Leuven with purchase of retail property in Diestsestraat

PRESS RELEASE

Regulated information

19/08/2014

Qrf continues its city acquisition strategy in Leuven with purchase of retail property in Diestsestraat

Qrf, the Belgian expert in inner-city commercial real estate, has further executed its ambitious investment strategy for 2014 with the purchase of a retail property in the Diestsestraat, one of the main shopping streets in Leuven. Earlier this year, Qrf bought buildings in Antwerp, Dendermonde, Tongeren and Heist-op-den-Berg. This acquisition brings the total Fair Value of Qrf's real estate portfolio to EUR 136.5m on August 19, 2014.

On August 13, 2014, Qrf completed the purchase of 100% of the shares of "Les
Terrasses de Woluwé," the company that owned the building located at number 137
Diestsestraat. With more than 150,000 passers-by each week, the Diestsestraat is one of the main shopping streets in Leuven with an ever-increasing number of visitors. Leuven also benefits from the presence of almost 56,000 students, in addition to its own population. The purchasing power of its catchment area far exceeds the Belgian national average.
Leuven advertises itself as a retail city with its slogan 'Liefst Leuven'. Leuven is the third- largest Flemish shopping city. It has wide regional appeal due to its fashion boutiques. The city supports its city centre, including the Diestsestraat, by making it easy to access by public transport.
Diestsestraat 137 is leased to Bershka. The international clothing chain, owned by the Spanish Inditex group (Zara, Pull&Bear, Massimo Dutti, etc.), is aimed at a young audience and is present in more than 60 countries. Hema, The Sting, C&A Kids and Esprit can all be found in the immediate vicinity of the site.
The spacious retail building, a new property built in 2013, has a frontage of over nine metres and a total surface area of as much as 1,620m². Currently, only the 690m² ground floor is used as a commercial space. The basement of the building has sufficient height for future commercial exploitation. The building therefore still has additional
upside potential.

Qrf Comm. VA • Public investment fund under Belgian law • Leopold de Waelplaats 8/1 • B-2000 Antwerp

Tel. [phone] • Fax [phone] • [e-mail] • www.qrf.be • Company registration number 537 979 024 •

RPR Antwerp

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The acquisition provides Qrf with EUR 400,000 in rental income annually. The Fair Value of the building amounts to EUR 7.1m.
Diestsestraat 137 was purchased at a competitive return and was funded from the existing credit line.
The new purchase is in line with the acquisition strategy of Qrf, which anticipates a EUR
35m portfolio growth for 2014. Qrf focuses on retail sites in the "Golden Mile", the streets in the city centre that are dominant for their catchment area. Qrf also chooses towns with a catchment area of at least 50,000 consumers and more specifically streets with a high number of passers-by. Its total portfolio now consists of 34 sites.
Earlier this year, Qrf acquired retail sites in Antwerp, Dendermonde, Tongeren and Heist-op-den-Berg. But the company is not stopping there. Currently, Qrf is actively pursuing the further expansion of its portfolio.

For more information:Qrf Comm VA

Anneleen Desmyter, CEO Francis Hendrickx, CFO
[e-mail] [e-mail]
+ 32 3 233 52 46 + 32 3 233 52 46

About Qrf:

Qrf is a Belgian fixed-capital real estate investment trust that focuses on City Retail, and more specifically on investing in, and the (re)development and leasing of inner-city retail
sites within the so-called "Golden Mile"- the streets that are dominant for their catchment area. Qrf is listed on Euronext Brussels (QRF:BB) as of December 2013. For more
information, please visit: www.qrf.be

Warning:

This press release contains forward-looking statements that involve risks and

uncertainties, including statements concerning Qrf's plans, objectives, expectations and intentions. Readers are cautioned that such forward-looking statements include known

and unknown risks and are subject to significant business, economic and competitive

uncertainties, that to a large extent are not controlled by Qrf. If one or more of these risks, uncertainties or contingencies materialise, or should any underlying assumptions prove incorrect, the actual results could materially vary from those anticipated, expected, estimated or projected. Consequently, Qrf shall not assume responsibility for the accuracy of these forward-looking statements.

Qrf Comm. VA • Public investment fund under Belgian law • Leopold de Waelplaats 8/1 • B-2000 Antwerp

Tel. [phone] • Fax [phone] • [e-mail] • www.qrf.be • Company registration number 537 979 024 •

RPR Antwerp

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