Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (September 2015)
51 slides from Helios Re Socimi's investor presentation, September 2015
Slide 1: Corporate Presentation - Strategic and Financial Update
Corporate Presentation - Strategic and Financial Update September 2015 www.larespana.com Lar España Real Estate SOCIMI, S.A. (LRE) – June, 2015 1
Slide 2: Disclaimer
Corporate presentation - Lar España Real Estate Disclaimer DISCLAIMER. RISKS AND FORWARD-LOOKING STATEMENTS This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and it is not regulated information or information which has been subject t
Slide 3: Agenda
Agenda 1 Overview of Lar España 2 July 2015 Share Capital Increase 3 Asset Portfolio Appendix Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– S.A. (LRE) - Date June, September, 2015 2015 3
Slide 4: Lar España at a glance
Corporate presentation – Overview of Lar España Lar España at a glance Key figures as at September 2015 Total Passing Market cap1 €544m €853m €52m acquisitions net rent2,3 Occupancy rate 94.9% GLA owned 556,163 sqm WAULT 2.5 years EPRA Net Initial LTV5 34.3% 6.6% Yield6 Flagship assets Shopping cent
Slide 5: Introduction to Lar España
Corporate presentation – Overview of Lar España Introduction to Lar España Lar España’s aim is to generate high returns for its shareholders via its business strategy of owning, operating and renting its Real Estate portfolio (through Active Property Management), which is mainly focused on Commercia
Slide 6: Lar España is committed to a value-added strategy
Corporate presentation – Overview of Lar España Lar España is committed to a value-added strategy • Clear strategy driving asset allocation • Focus on assets with value creation potential beyond macro cycle • Specialist approach to asset management Asset Class Investment and Asset Management strateg
Slide 7: Strong Management Team & Investment Manager Platform
Corporate presentation – Overview of Lar España Strong Management Team & Invesment Manager Platform Miguel Pereda Real Estate Manager Managing Director at Grupo Lar Luis Pereda Co-CEO of Grupo Lar and Board Member of LRE Executive Chairman of Grupo Lar REAL ESTATE TEAM / INVESTMENT MANAGER PLATFORM
Slide 8: Solid performance and NAV evolution, real estate portfolio grows by c.50%
Corporate presentation – Overview of Lar España 2015 Update Solid performance and NAV Evolution, while Real Estate Portfolio grows by c.50% with mostly off-market and value-add deals +6% NAV Growth in H12015 & 19.3 Net profit generated, on the back of a solid Business performance Initial Investment
Slide 9: +6% NAV growth since the end of 2014
Corporate presentation – Overview of Lar España Financial Indicators as at June 30, 2015 + 6% NAV growth since the end of 2014 Relative growth figures by segment 8% GAV EPRA valuation growth: 6% 4% 3% in the H1 (1) 2% 0% Logistics Offices Retail Financial Indicators 30/06/2015 31/12/2014 %Chg EPRA I
Slide 10: Lar España's portfolio at a glance (H1'15)
Corporate presentation – Overview of Lar España H1 2015 Portfolio Breakdown and EPRA KPI’s Lar España’s portfolio at a glance (H1’15) Residential Logistics 6% 17% Retail GLA 40% Rental Income Retail breakdown by Logistics 41% by asset class Offices 61% asset class 22% Offices 13% EPRA Net Initial Yi
Slide 11: Positive financial performance, but still expecting ramp-up phase
Corporate presentation – Overview of Lar España Consolidated P&L (IFRS) and Consolidated Balance Sheet (IFRS) Positive financial performance, but still expecting ramp-up phase Consolidated Income Statement Consolidated Balance Sheet (1) (2) H1 2015 H1 2014 Assets Jun 30, 2015 Dec 31, 2014 (3) Revenu
Slide 12: Flexible Balance Sheet structure provides stability to our strategy
Corporate presentation – Overview of Lar España Debt overview H1 2015 Flexible Balance Sheet structure provides stability to our strategy – Cost of Bank Debt Euribor + 1.86%,while >70% of the debt is fixed Prudent Financial Management: 72% exposure to fixed debt and Back-loaded amortization of the d
Slide 13: Agenda
Agenda 1 Overview of Lar España 2 July 2015 Share Capital Increase 3 Asset Portfolio Appendix Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– S.A. (LRE) - Date June, September, 2015 2015 13
Slide 14: €135m Capital increase enabling accretive deals after mid 2015
Corporate presentation – July 2015 Share Capital Increase July 2015 Capital Increase €135m Capital increase enabling for accretive deals after mid 2015 The share capital increase transaction was met with strong support from existing and new investors. Initial take-up of the rights offering was 99.48
Slide 15: Portfolio construction after share capital increase
Corporate presentation – July 2015 Share Capital Increase Portfolio construction after share capital increase Lar España has accelerated its portfolio construction by signing off-market deals, pushing total portfolio+committed capex to c.€1000m Pipeline under negotiation + capex: 2.000 Pipeline unde
Slide 16: Lar España consolidates a diversified and stable rental income producing portfolio
Corporate presentation – July 2015 Share Capital Increase Portfolio overview as of August 31 Lar España consolidates a diversified and stable rental income producing portfolio All figures stated at the acquisition date Weighted Avg. W.A.U.L.T as Avg. Initial Annual Net Rent Asset Class Units Price G
Slide 17: Agenda
Agenda 1 Overview of Lar España 2 July 2015 Share Capital Increase 3 Asset Portfolio Appendix Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– S.A. (LRE) - Date June, September, 2015 2015 17
Slide 18: Portfolio Overview
Corporate presentation – Asset Portfolio Shopping Centre Office Porfolio Overview 1 L’Anec Blau (Barcelona) 13 Egeo (Madrid) Location by asset class 2 Portal de la Marina (Alicante) 14 Arturo Soria (Madrid) 3 Albacenter (Albacete) Cardenal Marcelo Spinola 15 (Madrid) 4 Txingudi (Guipúzcoa) 16 Eloy G
Slide 19: Positive results achieved by active property management: Retail
Corporate presentation – Asset Portfolio Positive Results achieved by active property management Retail 6 8 10 4 7 5 4,8886 1 additional sqm let to +4% +635 new 9 Average signed tenants 11 footfall and 3 +1p.p4 contracts (36 growth5 of which are 1,900 sqm new lettings) renewals 2 Occupancy Footfall
Slide 20: KPI: Initial Figures
Corporate presentation – Asset Portfolio KPI: Initial Figures Detailed Portfolio Overview Shopping Centres Albacenter + Hypermarket Txingudi Las Huertas El Rosal Acquisition date 30/07/2014 19/12/2014 Acquisition date 24/03/2014 Acquisition date 24/03/2014 Acquisition date 07/07/2015 Location: Albac
Slide 21: KPI: Initial Figures
Corporate presentation – Asset Portfolio KPI: Initial Figures Detailed Portfolio Overview Shopping Centres L’Anec Blau As Termas P. De la Marina + Hypermarket Acquisition date 31/07/2014 Acquisition date 15/04/2015 Acquisition date 30/10/2014 09/06/2015 Location: Barcelona Location: Lugo Location: A
Slide 22: KPI: Initial Figures
Corporate presentation – Asset Portfolio KPI: Initial Figures Detailed Portfolio Overview Retail Complex Under development: Megapark Cruce de Caminos Asset Characteristics Retail Complex & Factory Outlet Centre: Asset Characteristics Location: Bilbao Location: Sagunto GLA: 63,907 sqm Retail Complex
Slide 23: KPI: Initial Figures
Corporate presentation – Asset Portfolio KPI: Initial Figures Detailed Portfolio Overview Retail Units Nuevo Alisal Villaverde Galaria Asset Characteristics Asset Characteristics Asset Characteristics Location: Santander Location: Madrid Location: Pamplona GLA: 7,648 sqm GLA: 4,391 sqm GLA: 4,108 sq
Slide 24: Positive results achieved by active property management: Offices and Logistics
Corporate presentation – Asset Portfolio Positive Results achieved by active property management Offices and Logistics 1 Joan Miró 2 1 2 Almussafes €21m Building capex Optimization of expected tenant mix Investment Net Initial Initial amount yield on cost Occupancy Active Management Strategy in Of
Slide 25: KPI: Initial Figures
Corporate presentation – Asset Portfolio KPI: Initial Figures Detailed Portfolio Overview Office Egeo Arturo Soria Marcelo Spinola Eloy Gonzalo Joan Miró Acquisition date 16/12/2014 Acquisition date 29/07/2014 Acquisition date 31/07/2014 Acquisition date 23/12/2014 Acquisition date 11/06/2015 Locati
Slide 26: KPI: Initial Figures
Corporate presentation – Asset Portfolio KPI: Initial Figures Detailed Portfolio Overview Residential Logistics Juan Bravo Alovera I, II, III & IV Almussafes Acquisition date 30/01/2015 Acquisition date 07/08/2014 – 26/05/2015 Acquisition date 26/05/2015 Property Type: Residential Property Type: Log
Slide 27: Agenda
Agenda 1 Overview of Lar España 2 July 2015 Share Capital Increase 3 Asset Portfolio Appendix Lar Lar España España Real Real Estate Estate SOCIMI, SOCIMI, S.A. (LRE) –– S.A. (LRE) - Date June, September, 2015 2015 27
Slide 28: A Unique Real Estate Manager
Corporate presentation - Appendix A Unique Real Estate Manager Grupo Lar, our investment manager, is a seasoned, family owned, Spanish private Real Estate developer, Investor and Asset Manager with a 40-year track record of international experience, Joint Ventures with Tier 1 Investors and long-term
Slide 29: Alignment of interests
Corporate presentation - Appendix Alignment of interests 1 2 3 Total Exclusivity Structure and Incentives Management Commitment The Manager is committed to Critical activities are carried out Grupo Lar owns a 3% stake in total exclusivity for in-house: Lar España, subject to a 3 year commercia
Slide 30: Appendix-Portfolio Description
Appendix-Portfolio Description Lar España Real Estate SOCIMI, S.A. (LRE) – June, 2015
Slide 31: Retail Complex: Megapark, Bilbao
Corporate presentation - Appendix Portfolio descriptions Retail Complex Megapark, Bilbao Asset Characteristics Asset Name: Megapark Asset Type: Retail complex Opening Date: 2004 Location: Bilbao 63,722 sqm GLA: RP1: 44,512 sqm FOC2: 19,210 sqm Acquisition price: EUR 170 m Price per sqm: €2,340/sqm N
Slide 32: Shopping Centre: El Rosal, León
Corporate presentation - Appendix Portfolio descriptions Shopping Centre El Rosal, León Asset Characteristics Asset Name: El Rosal Asset Type: Shopping Centre Opening Date: 2007 Location: León GLA: 51,142 Acquisition price: EUR 87.5 m Price per sqm: €1,711/sqm Location & Profile Investment Rationale
Slide 33: Shopping Centre: Anecblau, Barcelona
Corporate presentation - Appendix Portfolio descriptions Shopping Centre Anecblau, Barcelona Asset Characteristics Asset Name: Anecblau Asset Type: Shopping Centre Opening Date: 2006 Location: Barcelona GLA: 28,863 sqm Acquisition price: EUR 80.0 m Price per sqm: €2,772/sqm No. Tenants: Multi-tenant
Slide 34: Shopping Centre: As Termas, Lugo
Corporate presentation - Appendix Portfolio descriptions Shopping Centre As Termas, Lugo Asset Characteristics Asset Name: As Termas Asset Type: Shopping Centre Opening Date: 2005 Location: Lugo GLA: 33,151 sqm Acquisition price: EUR 67.0 m Price per sqm: €2,021/sqm No. Tenants: Multi-tenant Locatio
Slide 35: Shopping Centre + Hypermarket: Portal de la Marina, Alicante
Corporate presentation - Appendix Portfolio descriptions Shopping Centre+Hipermarket Portal de la Marina, Alicante Asset Characteristics Asset Name: P. De la Marina Asset Type: Shopping Centre Opening Date: 2008 Location: Alicante GLA: 39,9311 sqm Acquisition price: EUR 47.6 m Price per sqm: €1,980/
Slide 36: Shopping Centre: Albacenter, Albacete
Corporate presentation - Appendix Portfolio descriptions Shopping Centre Albacenter, Albacete Asset Characteristics Asset Name: Albacenter Asset Type: Shopping Centre Opening Date: 1996 Location: Albacete GLA: 27,974 sqm Acquisition price: EUR 39.9 m Price per sqm: €1,426.3/sqm No. Tenants: Multi-te
Slide 37: Shopping Centre: Txingudi, Guipúzcoa
Corporate presentation - Appendix Portfolio descriptions Shopping Centre Txingudi, Guipuzcoa Asset Characteristics Asset Name: Txingudi Asset Type: Shopping Centre Opening Date: 1997 Location: Guipúzcoa GLA: 9,920 sqm Acquisition price: EUR 27.7 m Price per sqm: €2,789/sqm Location & Profile Investm
Slide 38: Shopping Centre: Las Huertas, Palencia
Corporate presentation - Appendix Portfolio descriptions Shopping Centre Las Huertas, Palencia Asset Characteristics Asset Name: Las Huertas Asset Type: Shopping Centre Opening Date: 1989 Location: Palencia GLA: 6,108 sqm Price of acquisition: EUR 11.7 m Price per s.q.m.: €1,916/sqm No. Tenants: Mul
Slide 39: Retail Warehouse: Nuevo Alisal, Santander
Corporate presentation - Appendix Portfolio descriptions Retail Warehouse Nuevo Alisal, Santander Asset Characteristics Asset Name: Nuevo Alisal Asset Type: Retail Warehouse Opening Date: 2010 Location: Santander GLA: 7,648 sqm Acquisition price: EUR 17.0 m Price per sqm: €2,223/sqm No. Tenants: Mul
Slide 40: Retail Complex: Cruce de Caminos, Sagunto
Corporate presentation - Appendix Portfolio descriptions Retail Complex Cruce de Caminos, Sagunto Asset Characteristics Cruce de Caminos Asset Name: Retail Park & Gallery Asset Type: Retail Complex Opening Date: 2016 (E) Location: Sagunto 43,091 sqm RP1: 25,820 sqm GLA: Hyper: 10,066 sqm RG2: 7,205
Slide 41: Retail Complex: Villaverde, Madrid
Corporate presentation - Appendix Portfolio descriptions Retail Complex Villaverde, Madrid Asset Characteristics Asset Name: Villaverde Asset Type: Retail Warehouse Date of Opening: 2002 Location: Madrid GLA: 4,391 sqm Acquisition price: EUR 9.1 m Price per sqm: 2,072 €/sqm No. Tenants: Single-tenan
Slide 42: Retail Warehouses: Galaria, Pamplona
Corporate presentation - Appendix Portfolio descriptions Retail Warehouses Galaria, Pamplona Asset Characteristics Asset Name: PC Galaria Asset Type: Retail Units Location: Pamplona GLA: 4,108 Acquisition price: EUR 8.4 m Price per sqm: €2,394/sqm No. Tenants: 3 Location & Profile Investment Rationa
Slide 43: Office Building: Egeo, Madrid
Corporate presentation - Appendix Portfolio descriptions Office Building Egeo, Madrid Asset Characteristics Asset Name: Egeo Asset Type: Office Building Location: Madrid GLA: 18,254 sqm Acquisition price: EUR 64.9 m Price per sqm.: €3,555/sqm No. Tenants: Multi-tenant Location & Profile Investment R
Slide 44: Office Building: Arturo Soria 336, Madrid
Corporate presentation - Appendix Portfolio descriptions Office Building Arturo Soria 336, Madrid Asset Characteristics Asset Name: Arturo Soria Asset Type: Office Building Location: Madrid GLA: 8,663 sqm Acquisition price: EUR 24.2 m Price per sqm.: €2,793/sqm No. Tenants: Multi-tenant Location & P
Slide 45: Office Building: Joan Miró, Barcelona
Corporate presentation - Appendix Portfolio descriptions Office Building Joan Miró, Barcelona Asset Characteristics Asset Name: Joan Miró Asset Type: Office Building Location: Barcelona GLA: 8.610 sqm Acquisition price: EUR 19.7 m Price per sqm: €2,285/sqm No. Tenants: 4 Location & Profile Investmen
Slide 46: Office Building: Card. Marcelo Spínola 42, Madrid
Corporate presentation - Appendix Portfolio descriptions Office Building Card. Marcelo Spínola 42, Madrid Asset Characteristics Asset Name: Marcelo Spinola Asset Type: Office Building Location: Madrid GLA: 8,584 sqm Acquisition price: EUR 19.0 m Price per sqm.: €2,213/sqm No. Tenants: Multi-tenant L
Slide 47: Office Building: Eloy Gonzalo, Madrid
Corporate presentation - Appendix Portfolio descriptions Office Building Eloy Gonzalo, Madrid Asset Characteristics Asset Name: Eloy Gonzalo Asset Type: Office Building Location: Madrid GLA: 6,231 sqm Acquisition price: EUR 12.8 m Price per sqm.: €2,043/sqm No. Tenants: Multi-tenant Location & Profi
Slide 48: Logistics Warehouse: Alovera I & II, Guadalajara
Corporate presentation - Appendix Portfolio descriptions Logistics Warehouse Alovera I & Alovera II , Guadalajara Asset Characteristics Asset Name: Alovera I & Alovera II Asset Type: Logistics W. Date of Opening: 1992-2008 Location: Guadalajara GLA: 119,147 sqm Acquisition price: EUR 44.85 Mn Locati
Slide 49: Logistics Warehouse: Alovera C2, C5C6 & Almussafes
Corporate presentation - Appendix Portfolio descriptions Logistics Warehouse Alovera C2 & Alovera C5C6, Guadalajara & Almussafes, Valencia Asset Characteristics Asset Name: 3 warehouses Logistics Asset Type: Warehouse Date of Opening: 2007 & 2008 &2005 Guadalajara & Location: Valencia GLA: 42,693 sq
Slide 50: Residential Portfolio: Juan Bravo and Claudio Coello
Corporate presentation - Appendix Portfolio descriptions Residential Portfolio Juan Bravo 3 and Claudio Coello Building, Madrid Asset Characteristics Asset Name: Juan Bravo Asset Type: Residential Date of Construction: 2015-2017 Location: Madrid GLA 31,521* sqm Location & Profile Investment Rational
Slide 51: Lar España Real Estate SOCIMI, S.A. (LRE) – June, 2015
Lar España Real Estate SOCIMI, S.A. (LRE) – June, 2015 51
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