Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (December 2016)
78 slides from Helios Re Socimi's investor presentation, December 2016
Slide 1: Corporate Presentation
Corporate www.larespana.com Presentation December 2016
Slide 2: Index
Index 01 02 03 04 05 06 Company Portfolio Retail Strategy Non-Retail Financial Closing Description Strategy Results Remarks
Slide 3: Company Description
3 01 Company Description The Company: Lar España The Manager: Grupo Lar As Termas Shopping Centre, Lugo
Slide 4: Snapshot
4 Snapshot Shareholder Structure First IPO of a Spanish REIT listed on the Spanish Stock Exchanges Focused on creating both sustainable income and strong capital returns PIMCO for shareholders 20.03% Other investors 46.1% Brandes Investment Lar España is externally managed by Grupo Lar, privat
Slide 5: Major milestones since 2014
5 Major milestones since 2014 22. SC El Rosal 23. RU Galaria 28. RP Vistahermosa 24. RC VidaNova Development 4. OF Marcelo Spinola 25. RC Megapark 5. SC Albacenter 6. SC Anecblau 15. RE Lagasca99 7. LW Alovera 1. SC Txingudi 8. RU Villaverde 2. SC Las Huertas IPO March 14 3M14 6M14 9M14 12M14 3M15 6
Slide 6: Retail platform + non-retail assets
6 Retail platform + non-retail assets MALL Offices Logistics Residential Retail Offices in consolidated locations of Focus on logistic properties on Development of first homes in Madrid and Barcelona with good a selective basis with low rents, prime niche markets without zoning Top retail player con
Slide 7: Main Figures
7 Main Figures EPRA Net Initial Yield: 5.8% & EPRA Topped-up NIY GAV (€ Mn) 6.2% 6.3% Residential Developments Retail Logistics 5% 10% 6% Offices 2.9%2 4.4% 14% Offices €1,2011 €1,2011 7.0% 7.2% Logistics Retail 75% Rental Properties 90% EPRA Occupancy Rate: EPRA Annualized Net Rent (€ Mn) 92.8% Log
Slide 8: Strengths
8 Strengths Unique exposure to real estate retail Resilient prime dominant shopping assets and the Spanish consumer recovery centers in attractive catchment areas Upside potential from acquisitions done at Recurrent cash flow generation from a attractive capital values with potential for 6.6% Net In
Slide 9: Lar España Strategy
9 Lar España Strategy Special focus on under managed First IPO of a Spanish REIT assets listed on the Spanish Stock Exchanges Real Estate Manager with objective of implementing MANAGEMENT an Active Management Strategy in order to deliver “Alpha” >100 Real Estate Company’s business strategy is to acq
Slide 10: Retail Assets
10 Retail Assets Focus on shopping centres and retail parks Key assets in their catchment areas Locations Locations selected based on: Prime assets in their area of influence Level of competition Close to 500,000 sqm GLA Current GDP per capita and future growth outlook Impact of tourism as
Slide 11: Non-Retail Assets
11 Non-Retail Assets Opportunistic approach to other assets Core locations Focus on value added assets Luxury residential for sale Management as a key element to make acquisitions and Offices in Madrid and Barcelona generate differential value, taking advantage of Grupo Lar’s Logistics in main
Slide 12: Corporate Governance as a priority
12 Corporate Governance as a priority Lar España has prioritized best-in-class corporate governance Pledge to guarantee that the Company’s governance structures are adequately integrated and functioning as intended Objectives of the Action Plan 2014-2016 Ensuring strong governance Transparency in ma
Slide 13: Governance Structure
13 Governance Structure Independent and experienced Board: Critical Activities internalized 4 independent directors (4 out of 5) José Luis del Valle Roger Cooke Pedro Luis Uriarte Sergio Criado Jon Armentia Susana Guerrero Chairman and Independent Independent CFO Corporate Legal Independent Director
Slide 14: Company Description
14 01 Company Description The Company: Lar España The Manager: Grupo Lar Anecblau Shopping Center ,Barcelona
Slide 15: Grupo Lar Snapshot
15 Grupo Lar Snapshot A Real Estate Reference in Spain 1 Stable Ownership & Governance Family owned Company with more than 40-year of track record 2 Strong Management Team +270 employees in 7 Countries 3 Geographical Diversification Long history of Real Estate of Residential, Shopping Centres and Of
Slide 16: Experience in all asset classes
16 Experience in all asset classes Long track record of experience investing, developing and managing shopping centres, offices, logistics and residential buildings Retail Offices Logistics Residential 39 shopping centres invested, 9 office buildings 10 10,000 residential developed or managed develo
Slide 17: Successful international experience
17 Successful international experience Retail co-investments – Joint Ventures with Tier 1 Investors Whitehall MSREF
Slide 18: Commitment and exclusivity
18 Commitment and exclusivity Grupo Lar now owns a 3.5% stake in Lar España, subject to a lock-up Manager period Contract Summary 1 Grupo Lar is contracted to exclusively provide Management services to LRE. Initial five-year contract 2 The Manager is committed to exclusivity for commercial property
Slide 19: Portfolio
02 Portfolio Vistahermosa Retail Park, Alicante
Slide 20: Portfolio distribution
20 Portfolio distribution Location by asset class 6 10 13 4 15 RETAIL 9 7 12 5 75% GAV 5 OFFICES 21 22 20 23 1 24 14% GAV 17 16 26 19 18 11 5 LOGISTICS 6% GAV 14 25 3 1 RESIDENTIAL 2 8 5% GAV 15
Slide 21: Retail portfolio largest assets: 64% GAV
21 Retail portfolio largest assets: 64% GAV Megapark Palmas Altas P. Marina El Rosal Anecblau As Termas Gran Vía Vigo Vistahermosa LAR España largest assets represent 90% of its retail GAV Dominant in its catchment area % of High Quality Tenants1 98% n.a. 95% 89% 98% 9
Slide 22: Retail portfolio mid assets: 11% GAV
22 Retail portfolio mid assets: 11% GAV Albacenter Txingudi Vidanova Parc Las Huertas Nuevo Alisal Villaverde Galaria LAR España mid assets represent 10% of its retail GAV Dominant in its catchment area % of High Quality Tenants1 85% 80% 90% 70% 100% 100% 100% Value Added
Slide 23: Non Retail Assets Portfolio: LRE 25% GAV
23 Non Retail Assets Portfolio: LRE 25% GAV Non-Retail Assets Offices Logistics Residential Number of Assets 5 5 1 GLA (sqm) 50,345 161,841 9,453 EPRA Occupancy (%) 88.5%1 100% n.a. GAV (€ Mn) 160 72 58 GAV (€/sqm) 3,178 445 6,168 Passing Rent (€ Mn) 4.6 5.5 n.a. EPRA NIY (%) 2.9%1 7.0% n.a. EPRA To
Slide 24: Valuation
24 Valuation Valuation Bridge Since Acquisition € Mn (2) 1,201 Revaluation H1 2016 42 1,050 (1) 118 €42Mn 48 47% Yield Impact 851 53% Management Impact Acquisition & Acquisitions H12016 Revaluation H12016 GAV Revaluation 2014-15 Aquisitions Revaluation 1. Market Value determined by JLL and C&W as of
Slide 25: Portfolio Annualized Rental Growth
25 Portfolio Annualized Rental Growth Estimated Future Investments c.110 Existing Developments c.14 Existing Income Generating Assets c.96 c.13 c.4 c.4 c.2 c.77 c.8 63 3 3 1 4 Annualised Reversionary Reversionary 2 Marcelo Reversionary Vidanova Palmas Altas Potential Firepower Potential net rent pot
Slide 26: Retail Strategy
03 Retail Strategy Portal de la Marina Shopping Centre, Alicante
Slide 27: Well defined investment strategy
27 Well defined investment strategy Asset Type Shopping centres and retail parks Asset Prime dominant assets in their catchment areas Quality Large properties for their catchment (30,000 – 100,000 sqm) and Location Located in high density population areas, with Segment Value added: Creating shopping
Slide 28: LAR España has a clear objective
28 LAR España has a clear objective Consolidate among the top 3 retail operators in Spain: Target to selectively increasing GLA to generate revenue synergies Spain Total Retail GLA by Size Owned GLA Estimate % Ownership Other Very Large Peer 1 15.5 M sqm 15% 15% Retail Park Peer 2 12% Lar España + L
Slide 29: The value of a retail platform
29 The value of a retail platform 470,000 sqm, 850 shops, c.52 Mn visitors, 13 cities Retail Leaders in Spain #1 Controlling Stake #2 Investment Volumes Critical Mass #3 GLA Acquired Portfolio Size gives us benefits Synergies in procurement in: of services Experience & Global Negotiations with tenan
Slide 30: Retail Approach
30 Retail Approach #3 Retail Player in Spain Benefits of staying away from Madrid and Barcelona 1. Dominance ensures long term value and resilience to any future downturns Lar España targets to exploit revenue synergies of its growing retail portfolio i. Lower competition: dominant assets often have
Slide 31: Strong Technological Development
Strong Technological Development Omnichannel presence to enhance Shopping and Social Experience Online/Offline Market Place Online Market Place Delivery Online Shopping Wi-Fi Facebook App Other Contact with Social your Client Web Twitter Youtube Networks Know your Client Seeketing (beacons) Footfall
Slide 32: Retail Portfolio Key Metrics
32 Retail Portfolio Key Metrics GLA Number of units 2 assets TDC1 €185 Mn under 350,000 sqm Operating 850 + 250 (Dev) development 120,000 sqm Development Market Value €847 Mn (Operating Centres) EPRA Footfall Sales growth Occupancy c.52 Mn +9.2% 92.6% vs National index 2.7% 1. TDC – Total Developmen
Slide 33: Retail Operating Performance
33 Retail Operating Performance 16% Rotation rate +20,051 Sqm leasing activity Since Acquisition 9M 2016 Average holding period 16.3 months REPOSITIONING +4.9% NOI Since Acquisition +4% Improvement in revenues of common areas Average holding period 16.3 months Since Acquisition VALUE CREATION 92.6%
Slide 34: New sources of value – Retail Developments
34 New sources of value – Retail Developments c.60% >9% +25% >8% Pre-leased NIY Pre-agreement NIY Asset Strategic Positioning Asset Strategic Positioning Best possible location in Sagunto → urban site Best possible location in Seville → urban site Touristic destination: triple population in Su
Slide 35: Non-Retail Strategy
04 Non-Retail Strategy Egeo Office Building, Madrid
Slide 36: Opportunistic approach to non retail assets
36 Opportunistic approach to non retail assets Core locations Focus on value add assets Focus on liquid markets Off market acquisitions Luxury residential in Madrid Management as a key element to generate Offices in Madrid and Barcelona value, leveraging on Grupo Lar’s platform Logistics
Slide 37: Offices
37 Offices Strategy GAV Breakdown of Office assets Consolidated locations in Madrid and Barcelona Joan Miró Arturo Soria 14% 13% 16% o/GAV Good Connections/ Public Transports Recurrent activity with selective rotation 88.5% Egeo M. Spínola Eloy Gonzalo Occupancy 44% 18% 9% Ratio 10 Top-tenants by re
Slide 38: Logistics
38 Logistics Strategy GAV Breakdown of Logistics assets Focus on logistic properties on a selective basis Alovera II Alovera IV with low rents, low capital values and high yields 52% 11% 6% o/GAV Location Alovera I Alovera III Almussafes 100% 21% 4% 12% Occupancy Valencia Ratio 5-Top tenants by reve
Slide 39: Residential
39 Residential Asset Characteristics Location Total GLA Lagasca 99 & Juan Bravo 3, Madrid 26,203 Sqm Construction Period Acquisition Price1 2016 - 2018 EUR 50 Mn Pre-sales €/Sqm 43% 3,807 €/Sqm Asset Profile Location in Salamanca district, most exclusive area in Madrid Stand-alone building, prov
Slide 40: Financial Results – 9M 2016
05 Financial Results – 9M 2016 Egeo Office Building, Madrid
Slide 41: 9M 2016 Highlights
41 9M 2016 Highlights €1,201 +71% vs GAV 1 Q3 2015 Mn €42.2 Rental +80% vs EPRA NAV EPRA NAV Income Q3 2015 €8.4 €757.9 (€ ‘000s) Mn per share 35% Net LTV2 2.24% 6.1% EPRA “topped-up” NIY 5.8% EPRA Cost of Debt Net Initial Yield Tenants Sales Growth outperforming the market €18.8 EPRA +56% vs €62.7
Slide 42: 9M 2016 Operational and Financial Results
42 9M 2016 Operational and Financial Results Rental Income of €42.2 Mn +80% vs Q3 2015 GAV of €1,201 Mn +71% Annualised Gross rent of €70 +123% vs Q3 2015 Financial Mn vs Q3 2015 +56% EPRA earnings of €18.8Mn Results +77% vs Q3 2015 EBITDA of €30.3 Mn vs Q3 2015 +31% EPRA NAV of €757.9 M
Slide 43: 9M 2016 P&L
43 9M 2016 P&L Consolidated Income Statement (€ Million) Revenues EBITDA Chg (%) €M €M 9M 2016 9M 2015 30.8 9M16/9M15 42.2 Total Total 23.5 17.2 Rental Income 42.2 23.5 Property Operating Results 31.4 17.5 +79.4% 3.8 1 -0.5 EBITDA 30.8 17.2 +79.4% 9M14 9M15 9M16 9M14 9M15 9M16 Changes in the Fair Va
Slide 44: Debt
44 Debt Key Figures of the financing as of 30 September 2016 Back-loaded Amortization Profile €455Mn € Mn €140Mn Senior Secured Bond €315Mn Bank Debt 35%1 Net Loan to Value (LTV1) 294 91 23 36 154 2.24% Average Cost of Debt2 1 7 3 1 Year 2 Years 3 Years 4 Years 5 Years 6 Years > 6 Years Diversificat
Slide 45: Closing Remarks
05 Closing Remarks Marcelo Spínola Office Building, Madrid
Slide 46: Closing Remarks
46 Closing Remarks Unique exposure to real estate retail assets and the Spanish consumer recovery Resilient prime dominant shopping centres in attractive catchment areas Recurrent cash flow generation from a 5.8% Net Initial Yield Upside potential from acquisitions done at attractive
Slide 47: Key targets & assumptions 2017-2020
47 Key targets & assumptions 2017-2020 Expected Expected Average Growth Return Targets 2016 End per annum Total Annual Return >12% >12% NAV c. €780 Mn c. 9-10% Expected Expected Average Business Plan Assumptions 2016 End Growth per annum Annualized GRI c. €70 Mn c. 14% Annualized NOI1 c. €63 Mn c. 1
Slide 48: Dividends
48 Dividends Predictable and sustainable dividend and distribution schedule Dividend policy Competitive in the International Real Estate market objectives Attractive vs Spanish equity market As a result of a solid cash flow generation 1 2016 More than 4%1 over NAV (> 5% on current Market Cap
Slide 49: Right timing, right resources, right platform
49 Going forward 1 RIGHT TIMING Cycle 2 RIGHT RESOURCES Operational Opportunity Financial Know-How 3 RIGHT PLATFORM Size RESULTS Synergies Operation Developments Revaluation Rotation potential Dividends
Slide 50: Appendix - Assets
07 Appendix - Assets Anec Blau Shopping Centre, Barcelona
Slide 51: RETAIL COMPLEX Megapark, Bilbao
51 RETAIL COMPLEX Megapark, Bilbao Location Acquisition Price Bilbao EUR 170.0 Mn GLA Market Value (June 2016) 63,555 Sqm EUR 178.0 Mn Purchase Date EPRA NIY 19 October 2015 5.7% WAULT EPRA Occupancy Rate 2.8 years 92.0%
Slide 52: SHOPPING CENTRE Gran Vía de Vigo, Pontevedra
52 SHOPPING CENTRE Gran Vía de Vigo, Pontevedra Location Acquisition Price Vigo, Pontevedra EUR 141.0 Mn GLA Market Value (June 2016) 41,386 Sqm - Purchase Date EPRA NIY 15 September 2016 6.2% WAULT Occupancy Rate - 95.5%
Slide 53: SHOPPING CENTRE El Rosal, León
53 SHOPPING CENTRE El Rosal, León Location Acquisition Price Ponferrada, León EUR 87.5 Mn GLA Market Value (June 2016) 51,022 Sqm EUR 93.3 Mn Purchase Date EPRA NIY 7 July 2015 6.7% WAULT EPRA Occupancy Rate 2.5 years 92.4%
Slide 54: SHOPPING CENTRE Portal de la Marina, Alicante
54 SHOPPING CENTRE Portal de la Marina, Alicante Location Acquisition Price1 Ondara, Alicante EUR 89.2 Mn GLA Market Value (June 2016) 40,066 Sqm EUR 99.3 Mn Purchase Date EPRA NIY 30 Oct ’14/ 9 Jun ’15/ 30 Mar ‘16 6.8% WAULT EPRA Occupancy Rate 2.7 years 93.5% 1. Weighted average price of acquisiti
Slide 55: SHOPPING CENTRE Anec Blau, Barcelona
55 SHOPPING CENTRE Anec Blau, Barcelona Location Acquisition Price Barcelona EUR 80.0 Mn GLA Market Value (June 2016) 28,612 Sqm EUR 87.5 Mn Purchase Date EPRA NIY 31 July 2014 5.4% WAULT EPRA Occupancy Rate 3.1 years 94.2%
Slide 56: SHOPPING CENTRE As Termas, Lugo
56 SHOPPING CENTRE As Termas, Lugo Location Acquisition Price Lugo EUR 68.8 Mn GLA Market Value (June 2016) 35,127 Sqm EUR 74.0 Mn Purchase Date EPRA NIY 15 Apr ‘15/ 28 Jul ‘15 6.7% WAULT EPRA Occupancy Rate 2.2 years 92.9%
Slide 57: RETAIL PARK Vistahermosa, Alicante
57 RETAIL PARK Vistahermosa, Alicante Location Acquisition Price Alicante EUR 42.5 Mn GLA Market Value (June 2016) 33,550 Sqm EUR 42.5 Mn Purchase Date EPRA NIY 16 June 2016 5.9% WAULT EPRA Occupancy Rate 6.5 years 87.6%
Slide 58: SHOPPING CENTRE Palmas Altas, Seville
58 SHOPPING CENTRE Palmas Altas, Seville Location Acquisition Price Seville EUR 36.0 Mn Retail and family leisure space Market Value (June 2016) 123,000 Sqm EUR 40.7 Mn Purchase Date Expected NIY 1 March 2016 > 8% Expected Opening Date Expected development costs Q1 2019 EUR 109.0 Mn
Slide 59: SHOPPING CENTRE Albacenter, Albacete
59 SHOPPING CENTRE Albacenter, Albacete Location Acquisition Price Albacete EUR 39.9 Mn GLA Market Value (June 2016) 27,890 Sqm EUR 46.1 Mn Purchase Date EPRA NIY 30 Jul ’14/ 19 Dec ‘14 6.0% WAULT EPRA Occupancy Rate 1.8 years 90.4%
Slide 60: SHOPPING CENTRE Txingudi, Guipúzcoa
60 SHOPPING CENTRE Txingudi, Guipúzcoa Location Acquisition Price Irún, Guipúzcoa EUR 27.7 Mn GLA Market Value (June 2016) 10,127 Sqm EUR 32.0 Mn Purchase Date EPRA NIY 24 March 2014 6.5% WAULT EPRA Occupancy Rate 3.0 years 86.3%
Slide 61: RETAIL PARK Vidanova Parc, Valencia
61 RETAIL PARK Vidanova Parc, Valencia Location Acquisition Price Sagunto, Valencia EUR 14.0 Mn GLA Market Value (June 2016) 44.252 Sqm EUR 16.1 Mn Purchase Date Expected NIY 3 August 2014 > 9% Expected Opening Date Expected development costs Q1 2018 EUR 26.0 Mn
Slide 62: SHOPPING CENTRE Las Huertas, Palencia
62 SHOPPING CENTRE Las Huertas, Palencia Location Acquisition Price Palencia EUR 11.7 Mn GLA Market Value (June 2016) 6,267 Sqm EUR 12.0 Mn Purchase Date EPRA NIY 24 March 2014 6.4% WAULT EPRA Occupancy Rate 2.2 years 78.3%
Slide 63: RETAIL PARK Nuevo Alisal, Santander
63 RETAIL PARK Nuevo Alisal, Santander Location Acquisition Price Santander EUR 17.0 Mn GLA Market Value (June 2016) 7,649 Sqm EUR 17.5 Mn Purchase Date EPRA NIY 17 December 2014 6.5% WAULT EPRA Occupancy Rate 3.3 years 100.0%
Slide 64: RETAIL PARK Villaverde, Madrid
64 RETAIL PARK Villaverde, Madrid Location Acquisition Price Madrid EUR 9.1 Mn GLA Market Value (June 2016) 4,391 Sqm EUR 10.4 Mn Purchase Date EPRA NIY 29 July 2014 6.5% WAULT EPRA Occupancy Rate 6.1 years 100.0%
Slide 65: RETAIL PARK Galaria, Pamplona
65 RETAIL PARK Galaria, Pamplona Location Acquisition Price Pamplona EUR 8.4 Mn GLA Market Value (June 2016) 4,108 Sqm EUR 9.8 Mn Purchase Date EPRA NIY 23 July 2015 6.7% WAULT EPRA Occupancy Rate 5.2 years 100.0%
Slide 66: OFFICES Egeo, Madrid
66 OFFICES Egeo, Madrid Location Acquisition Price Madrid EUR 64.9 Mn GLA Market Value (June 2016) 18,254 Sqm EUR 71.9 Mn Purchase Date EPRA NIY 16 December 2014 1.7% WAULT EPRA Occupancy Rate 4.7 years 91.5%
Slide 67: OFFICES Marcelo Spínola, Madrid
67 OFFICES Marcelo Spínola, Madrid Location Acquisition Price Madrid EUR 19.0 Mn GLA Market Value (June 2016) 8,586 Sqm EUR 27.0 Mn Purchase Date Redevelopment Capex 31 July 2014 EUR 9.6 Mn Expected Yield Total cost per Sqm. > 7.5% EUR 3,222/Sqm
Slide 68: OFFICES Arturo Soria, Madrid
68 OFFICES Arturo Soria, Madrid Location Acquisition Price Madrid EUR 24.2 Mn GLA Market Value (June 2016) 8,663 Sqm EUR 26.0 Mn Purchase Date EPRA NIY 29 July 2014 4.8% WAULT EPRA Occupancy Rate 2.6 years 78.1%
Slide 69: OFFICES Joan Miró, Barcelona
69 OFFICES Joan Miró, Barcelona Location Acquisition Price Barcelona EUR 19.7 Mn GLA Market Value (June 2016) 8,611 Sqm EUR 21.0 Mn Purchase Date EPRA NIY 11 June 2015 5.6% WAULT EPRA Occupancy Rate 1.3 years 99.1%
Slide 70: OFFICES Eloy Gonzalo, Madrid
70 OFFICES Eloy Gonzalo, Madrid Location Acquisition Price Madrid EUR 12.7 Mn GLA Market Value (June 2016) 6,231 Sqm EUR 14.0 Mn Purchase Date EPRA NIY 23 December 2014 2.2% WAULT EPRA Occupancy Rate 1.8 years 80.1%
Slide 71: LOGISTICS Alovera II, Guadalajara
71 LOGISTICS Alovera II, Guadalajara Location Acquisition Price Guadalajara EUR 32.1 Mn GLA Market Value (June 2016) 83,952 Sqm EUR 37.4 Mn Purchase Date EPRA NIY 13 October 2014 6.2% WAULT EPRA Occupancy Rate 1.0 years 100.0%
Slide 72: LOGISTICS Alovera I, Guadalajara
72 LOGISTICS Alovera I, Guadalajara Location Acquisition Price Guadalajara EUR 12.7 Mn GLA Market Value (June 2016) 35,195 Sqm EUR 15.0 Mn Purchase Date EPRA NIY 7 October 2014 7.2% WAULT EPRA Occupancy Rate 2.2 years 100.0%
Slide 73: LOGISTICS Almussafes, Valencia
73 LOGISTICS Almussafes, Valencia Location Acquisition Price Valencia EUR 8.4 Mn GLA Market Value (June 2016) 19,211 Sqm EUR 8.8 Mn Purchase Date EPRA NIY 26 May 2015 7.9% WAULT EPRA Occupancy Rate 3.2 years 100.0%
Slide 74: LOGISTICS Alovera IV (C5-C6), Guadalajara
74 LOGISTICS Alovera IV (C5-C6), Guadalajara Location Acquisition Price Guadalajara EUR 7.2 Mn GLA Market Value (June 2016) 14,891 Sqm EUR 7.9 Mn Purchase Date EPRA NIY 26 May 2015 8.9% WAULT EPRA Occupancy Rate 2.6 years 100.0%
Slide 75: LOGISTICS Alovera III, Guadalajara
75 LOGISTICS Alovera III, Guadalajara Location Acquisition Price Guadalajara EUR 3.0 Mn GLA Market Value (June 2016) 8,591 Sqm EUR 3.3 Mn Purchase Date EPRA NIY 26 May 2015 7.4% WAULT EPRA Occupancy Rate 0.3 years 100.0%
Slide 76: RESIDENTIAL Lagasca 99, Madrid
76 RESIDENTIAL Lagasca 99, Madrid Location Acquisition Price1 Madrid EUR 50.1 Mn GLA Market Value (June 2016) 26,203 Sqm EUR 58.3 Mn Purchase Date Construction Period 30 January 2015 2016 - 2018 1. Corresponds to the 50% of the JV with PIMCO
Slide 77: Disclaimer
77 Disclaimer This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and it is not a regulated information or information which has been subject to prior registration or control by the Spanish Securities Market Commission. This document n
Slide 78: Contact us
Contact us Corporate www.larespana.com Presentation Lar España Real Estate SOCIMI
Lar España Real Estate SOCIMI — Investor Presentation (December 2016) on 6ix