Note | | Total 2015 | Per share 2015 | Total 2014 | Per share 2014 |
| | NAV as per the financial statements | 554,723 | 2,038.11 | 565,113 | 2,113.01 |
| | 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 | 554,723 | 2,038.11 | 565,113 | 2,113.01 |
| | 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 | 5,876 | 21.59 | 7,344 | 27.46 |
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 | 560,599 | 2,059.70 | 572,457 | 2,140.47 |
| | | | | | |
| | Number of shares issued | 272,175 | | 267,445 | |
| | Number of shares issued taking dilution effect into account | 272,175 | | 267,445 | |
| | Weighted average INREV NAV | 572,645 | | 520,879 | |
| | Weigthed average INREV GAV | 587,045 | | 532,367 | |
| | Total Expense Ratio (NAV) | 0.58% | | 0.54% | |
| | Total Expense Ratio (GAV) | 0.57% | | 0.53% | |
| | Real Estate Expense Ratio (GAV) | 2.93% | | 2.25% | |