Concentradora Fibra Danhos Sa De Cv · BMV:DANHOS/13
Concentradora Fibra Danhos Sa De Cv — Fibra Danhos — Q2 2014 Earnings Presentation
34 slides from Concentradora Fibra Danhos Sa De Cv's earnings presentation, July 2014
Slide 1: July 2014 Presentation
July 2014 Presentation DANHOS FIERA
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Fibra Danhos (or the “Trust”) for informational and discussion purposes. It does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any Certificados Bursátiles Fiduc
Slide 3: Key Messages About Fibra Danhos
Key Messages About Fibra Danhos Fibra Danhos is the most consolidated network of premier-quality properties in Mexico City Capital structure debt free Above all else mainly developers, not consolidators Grupo Danhos contributed all of its premier-quality retail and office properties Simple and compe
Slide 4: Recent Events
Recent Events Due to the robust cash flow generation of our operating properties during 2Q14, our AFFO per CBFI (considering only those CBFIs with economic rights) was Ps. $0.465. In this respect, on July 23, 2014, our Technical Committee determined a distribution to our CBFI holders, corresponding
Slide 5: Recent Events (Cont…)
Recent Events (Cont…) With respect to our projects under development, we have important work progresses of 89.8% in Torre Virreyes and of 80.6% in the retail component and the foundations and parking of the office and hotel components of Toreo. Regarding the pre-leasing process, we also have relevan
Slide 6: Fibras and Market Overview
Fibras and Market Overview 6
Slide 7: Fibra Market Overview
Fibra Market Overview Fibras and public real estate companies Industrial Retail Premier Quality Hotel Consolidator/ Retail/Office (Business) Diversified 7
Slide 8: Fibra Danhos Overview
Fibra Danhos Overview 8
Slide 9: Fibra Danhos’ Portfolio
Fibra Danhos’ Portfolio MixedIUse" Office" Retail" 1 Development,Portfolio" Population,within,5km:" 0.695,M" GLA,:," 15,375,sqm" Opening,Year:" 2000" 2013,total,visitors! 3.8,M" Vía,Vallejo" 13" 2 Population,within,5km:" 1.0,M" GLA:," 153,000,sqm" Population,within,5km:" 1.066,M" GLA:," Opening,Year:"
Slide 10: Expected GLA Evolution
Expected GLA Evolution 981.5# 1000" 961.5# 914.5# 914.5# 89# 89# 89# 89# 86.5# 106.5# 800" 86.5# 86.5# 676# 153# 153# 106# 106# 83# 600" 17# 57# 19# 57# 19# 57# 19# 57# 19# 516# 19# 18# 18# 18# 18# 19# 18# 66# 66# 66# 66# 66# 18# 404# 66# 400" 66# 206# 206# 206# 206# 206# 146# 71# 200" 0" 2014e" 201
Slide 11: Expected GLA Distribution
Expected GLA Distribution As of june 30 2014 With Torre Virreyes and Toreo 4% 5% 28% 48% 47% 68% With Torre Virreyes, Toreo and 3 With Torre Virreyes, Toreo, 3 Expansions and Expansions New Projects for Future Development 4% 3% 26% 40% 56% 71% 11
Slide 12: Financial Information—NOI and EBITDA Tables
Financial Information—NOI and EBITDA Tables 12
Slide 13: NOI Tables: 2Q14 vs pro forma 2Q13
NOI Tables: 2Q14 vs pro forma 2Q13 Fibra Danhos Mexican Pesos 2Q14 2Q13 Change % / bp Base rent $ 242,073,880 $ 235,609,466 2.7% Overage $ 24,821,860 $ 25,338,555 -‐‑2 .0% Tenant Admission Payments $ 969,585 $ 7,048,560 -‐‑8 6.2% Parking $ 57,661,841 $ 60,460,129 -‐‑4 .6% Maintenance, Operation,
Slide 14: NOI Tables: 2Q14 vs 1Q14
NOI Tables: 2Q14 vs 1Q14 Fibra Danhos Mexican Pesos 2Q14 1Q14 Change % / bp Base rent $ 242,073,880 $ 242,591,502 -‐‑0.2% Overage $ 24,821,860 $ 20,319,334 22.2% Tenant Admission Payments $ 969,585 $ 946,140 2.5% Parking $ 57,661,841 $ 51,329,620 12.3% Maintenance, Operation, Advertising and Other
Slide 15: EBITDA Tables: 2Q14 vs pro forma 2Q13
EBITDA Tables: 2Q14 vs pro forma 2Q13 Fibra&Danhos Mexican&Pesos 2Q14 2Q13 Change&%&/&bp& Base%rent $%242,073,880 $%235,609,466 2.7% Overage $%%%24,821,860 $%%%25,338,555 :2.0% Tenant%Admission%payments $%%%%%%%%969,585 $%%%%%7,048,560 :86.2% Parking $%%%57,661,841 $%%%60,460,129 :4.6% Maintenance,%
Slide 16: EBITDA Tables: 2Q14 vs 1Q14
EBITDA Tables: 2Q14 vs 1Q14 Fibra&Danhos Mexican&Pesos 2Q14 1Q14 Change&%&/&bp& Base%rent $%242,073,880 $%242,591,502 >0.2% Overage $%%%24,821,860 $%%%20,319,334 22.2% Tenant%Admission%payments $%%%%%%%%969,585 $%%%%%%%%946,140 2.5% Parking $%%%57,661,841 $%%%51,329,620 12.3% Maintenance,%Operation,
Slide 17: Update on Developments
Update on Developments 17
Slide 18: Update on Developments
Update on Developments Construction progress, as well as progress in permits and licenses for the properties in our development portfolio are on schedule As of March 2014 Torre Virreyes As of June 2014 § Overall construction § Overall construction progress 82.5% progress 89.8% § Overall preleasin
Slide 19: Update on developments
Update on developments Expansions in properties in our Operating Portfolio Expansion in Parque Tezontle Expansion in Parque Delta GLA 19,000 GLA 18,000 Parking spaces 542 Parking spaces 861 Ps.$ 450 Ps.$ 600 Development budget Development budget million million Expansion in Parque Tezontle Expansion
Slide 20: Update on developments
Update on developments Office and hotel component in Toreo § As part of the use of proceeds from our IPO is the financing for the remaining development of the office and hotel components of Toreo. § We started the construction of two (out of three) office towers as well as of the hotel of Toreo, ahead of
Slide 21: Acquisition of land reserve known as “Las Antenas”
Acquisition of land reserve known as “Las Antenas” 21
Slide 22: Acquisition of land reserve known as “Las Antenas”
Acquisition of land reserve known as “Las Antenas” Background § In the Technical Commi]ee session of February 19, 2014, it was approved that Fibra Danhos negotiate the acquisition of two pieces of land at a maximum price of US$ 600 per sqm. § On May 28, 2014 the acquisition was registered on publi
Slide 23: Acquisition of land reserve known as “Las Antenas”
Acquisition of land reserve known as “Las Antenas” Project’s Strategic and Business Importance for Fibra Danhos • Retail Area: 106,500sqm of GLA with 305 doors. Based on the land configuration, we plan to develop the project in two phases. • Parking: Approximately 3,766 cars. • Pre-Leasing Progress:
Slide 24: Acquisition of land reserve known as “Las Antenas”
Acquisition of land reserve known as “Las Antenas” Project’s Profitability and Impact in Fibra Danhos´ Portfolio Implicit cap rate is 12.7% and the expected levered IRR is 34.4% Start of Stabilized NOI Investment Debt Equity Cap rate Operations Antenas 2017 $434,532,681 $3,410,476,356 82.6% 17.4% 12.
Slide 25: Acquisition of Vía Vallejo Project
Acquisition of Vía Vallejo Project 25
Slide 26: Vía Vallejo Project
Vía Vallejo Project Background I. Introduction § Vía Vallejo is a mixed use project with strategic importance for Fibra Danhos mainly due to the following reasons: a) Location in a centric area of MAMC, with great connectivity and densely populated, with a favorable perspective of economic and demo
Slide 27: Vía Vallejo Project
Vía Vallejo Project Project’s Strategic and Business Importance for Fibra Danhos • Retail Area (Phase I) : 83,000sqm of GLA Based on the land configuration, we plan to develop the project in two phases. • Parking: Approximately 4,725 cars. • Pre-Leasing Progress: 64% • Estimated Opening Date: March
Slide 28: Vía Vallejo Project
Vía Vallejo Project Project’s Profitability and Impact in Fibra Danhos´ Portfolio Implicit “blended cap rate” is 10.0% and the expected levered IRR is 20.4% Weighted Cap Star of Opera9ons Stabilized NOI Investment Debt Equity Cap rate GLA rate Phase I 2016 $ 236,922,955 $ 3,158,972,729 0% 100% 7.5% 8
Slide 29: Potential acquisition outside MAMC
Potential acquisition outside MAMC 29
Slide 30: Potential acquisition outside MAMC
Potential acquisition outside MAMC Background • The Project is located in an urban center with robust economic activity, in an area without quality retail and entertainment options with great road connectivity from other towns and cities that are not adequately served in terms of retail and entertai
Slide 31: Potential acquisition outside MAMC
Potential acquisition outside MAMC Project’s Strategic and Business Importance for Fibra Danhos • Retail Area: 89,000 sqm of GLA. • Parking: Outdoor for approximately 3,900 cars. • Pre-leasing Progress: 0% • Construction Progress: 0% • Estimated Construction Start Date: April 2015 • Estimated Openin
Slide 32: Potential acquisition outside MAMC
Potential acquisition outside MAMC Project’s Profitability and Impact in Fibra Danhos´ Portfolio Implicit cap rate is 11.7% and the expected levered IRR is 48.5% Start of Opera9ons Stabilized NOI Investment Debt Equity Cap rate Project 2017 $305,017,669 $2,605,467,000 83.7% 16.3% 11.7% Impact of the
Slide 33: Strategic Agenda
Strategic Agenda 33
Slide 34: Strategic agenda
Strategic agenda We are currently assessing various strategic decisions to strengthen our growth strategy 1 We continue to work on certain large scale projects in Mexico City and other locations that, if materialized, will ensure Fibra Danhos´ future growth for years to come. Long term growth We are