Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi · BIST:TSGYO
Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi — TSKB Real Estate Investment Trust (TSKB Gayrimenkul Yatırım Ortaklığı) — Investor Presentation (April 2025)
37 slides from Tskb Gayrimenkul Yatirim Ortakligi Anonim Sirketi's investor presentation, April 2025
Slide 1: April 2025
APRIL 2025 BKBEX GAYRIMENKUL YATIRIM ORTAKLIGI
Slide 2: Company Information
Company Information Company Name : TSKB REAL ESTATE INVESTMENT TRUST Date of Establishment : 03.02.2006 Share Capital : 650.000.000 TL Listing : Borsa Istanbul Ticker Symbol : TSGYO Address : Ömer Avni mah. Karun Çıkmazı sok. No:2 34427 Fındıklı İstanbul Web-site : www.tskbgyo.com.tr e-mail : gyo@ts
Slide 3: Contents
Contents Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
Slide 4: Highlights
Highlights ➢ Established in 2006 as a real estate investment and development company ➢ Developer of new projects, has demonstrated its ability to ensure profitable project development ➢ Asset size grew from TL 12 mn TL (2006) to TL 5.8 bn (2025) ➢ Strong real estate portfolio with a commercial focus
Slide 5: Vision & Mission
Vision & Mission Vision Mission To be a “reliable business To establish and maintain a partner” with a “pioneering growing and sustainable role“ in its sector investment portfolio with high returns.
Slide 6: Shareholders Structure
Shareholders Structure Experienced main shareholder, Turkey’s oldest and largest investment and development bank TSKB, part of the Is Bank Group Other Shareholders & Free Float 11.39% Shareholders Ratio (%) TSKB 88.61 Other Shareholders & Free Float 11.39 Total 100 TSKB 88.61% * As of March 31,2024,
Slide 7: Organizational Chart
Organizational Chart Management Board General Manager Lawyer Deputy General Manager Real Estate Asset Management & Finance & Financial Affairs & Business Development Investor Relations • Real Estate Asset Management • Financial Reporting • Business Development • Investor Relations • Operation • Acco
Slide 8: History
History • TSKB REIT established in February(2006) • TSKB contributed the Tahir Han Building as capital in kind in March (2006) • Land for Pendorya Shopping Center (PSC) purchased in July (2007) • Land for Adana hotel project purchased in 50% partnership in November (2007) • Paid in capital upped fro
Slide 9: Investment Strategy
Investment Strategy Industrial and Geographical Focus • TSKB REIT's investment strategy is concentrated on commercial real estate due to the regular rent income and cash flow pattern which can be obtained from these kinds of assets. • Business and shopping centers, tourism facilities, logistic wareh
Slide 10: Real Estate Portfolio
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
Slide 11: Portfolio Breakdown
Portfolio Breakdown As of 30.09.2023 ( TL ) Breakdown of Real Estate Portfolio* Hotel 889.659.355 Divan Adana Hotel 889.659.355 OFFICE Office Buildings 3.260.141.693 BULDİNGS Fındıklı Buildings 2.838.072.996 60% Tahir Han Building 422.068.697 Shopping Center 1.333.960.731 SHOPPING HOTEL CENTER Pendo
Slide 12: Real Estate Portfolio Summary
Real Estate Portfolio Summary Value (TL 000)* ◼ Pendorya Shopping Center 1.212.000 ◼ Fındıklı Office Buildings 2.601.220 ◼ Tahir Han Office Building 383.480 ◼ Divan Adana Hotel 808.320 Total* 5.005.020 • Valuations carried out by independent real estate appraisal companies. It is the value of the sh
Slide 13: Pendorya Shopping Center
Pendorya Shopping Center
Slide 14: Pendorya Shopping Center (contd.)
Pendorya Shopping Center (contd.) Location Pendik - İstanbul TSKB REIT Stake 100% Operational Date December 2009 Land Area (sqm) 23.183 Construction Area (sqm) 80.648 Leasable Area (sqm) 30.573 sqm Eskidji Bazaar (9.561 sqm) MediaMarkt (3.254 sqm) ➢ 100% of Pendorya is held by TSKB REIT. Cinemaximum
Slide 15: Pendorya Shopping Center (contd.)
Pendorya Shopping Center (contd.) ➢ The Pendorya site was selected after careful evaluation of the surrounding region to ensure appropriate demographics and growth dynamics as well as unsaturated market conditions and potential. ➢ Pendorya is located at the crossroads of two of Istanbul’s main highw
Slide 16: Fındıklı Office Buildings
Fındıklı Office Buildings Fındıklı Buildings
Slide 17: Fındıklı Office Buildings (contd.)
Fındıklı Office Buildings (contd.) Fındıklı Building I Location Istanbul TSKB REIT Stake 100% Land Area (sqm) 1.696 Leasable Area (sqm) 7.102 ➢ TSKB REIT is the 100% owner of the building. Number of Floors 8 ➢ The building of some 7.102 sqm of covered space was purchased from TSKB in 2007. Tenant TS
Slide 18: Fındıklı Office Buildings (contd.)
Fındıklı Office Buildings (contd.) Fındıklı Building II Location Istanbul TSKB REIT Stake 100% Land Area (sqm) 2.430 Leasable Area (sqm) 10.724 Number of Floors 10 ➢ TSKB REIT is the 100% owner of the property. TSKB, TSKB ➢ The building has 10.724 sqm of enclosed area and was purchased Foundation, f
Slide 19: Tahir Han Office Building
Tahir Han Office Building Istanbul'Modern Art Museum 4
Slide 20: Tahir Han Office Building (contd.)
Tahir Han Office Building (contd.) Location Istanbul ➢ TSKB REIT owns 74% of the building. Tahir Han is a seven-storey building on 607 sqm plot and has a built up area of 3.198 sqm. TSKB REIT Stake 74% ➢ Building has full sea views from the third storey and up. Land Area (sqm) 607 ➢ Tahir Han is loc
Slide 21: Divan Adana Hotel
Divan Adana Hotel De mwas /
Slide 22: Divan Adana Hotel (contd.)
Divan Adana Hotel (contd.) Location Adana-City Center TSKB REIT Stake 50% Operational Date September 2015 Appraisal Value (TLm) 808,32* Rooms 180 ➢ TSKB REIT acquired a 50% share of hotel located in a central Ballroom 516 sqm / 450 people area of Adana. Bar 340 sqm / 120 people ➢ 5-star, 180 room Ho
Slide 23: Divan Adana Hotel (contd.)
Divan Adana Hotel (contd.) Divan Adana fills need for a comfortable city hotel... ➢ Adana is one of Turkey’s main industrial cities, with additional business growth potential due to investments in the energy and petrochemical sectors. ➢ The occupancy rate of the existing 5-star hotels has increased
Slide 24: Financial Data
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
Slide 25: Balance Sheet
Balance Sheet (TL 000) 1Q2025 2024 Current Assets 253.208 242.553 Cash and Banks 108.923 95.573 Trade Receivables 2.441 3.446 Other Current Assets 141.844 167.941 Non-Current Assets 5.554.397 5.555.955 Investment Valued by Equity Method 39.535 41.004 Investment Property 5.483.762 5.483.762 Fixed Ass
Slide 26: Income Statement
Income Statement (TL 000) 31.03.2025 31.03.2025 49.753 44.748 Revenues Operating Costs (-) (26.912) (25.121) Net Operating Profit 22.841 19.627 Expenses General Administrative (15.208) (13.684) Expenses Marketing (115) (4) Income from Other Operations 2.553 1.911 Expenses from Other Operations (-) (
Slide 27: Key Parameters
Key Parameters (Amounts are expressed in TL based on the purchasing power of the Turkish Lira (“TL”) as of March 31, 2025 unless otherwise indicated.)
Slide 28: TSGYO Stock Performance
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
Slide 29: TSGYO Stock Performance
TSGYO Stock Performance Performance Performance 31.12.2023 - 31.12.2024- 31.12.2023 31.12.2024 25.04.2025 31.12.2024 25.04.2025 BIST 100 Index 7.470 9.831 9.433 32% -4% BIST REIT Index 2.449 3.558 3.692 46% 3% TSGYO 6.01 6.95 6.69 16% -4% TSGYO Market Cap (TL mn) 3.907 4.518 4.349 TSGYO Market Cap (
Slide 30: TSGYO Stock Performance
TSGYO Stock Performance TSGYO, BIST GYO Index ve BIST 100 Index Performance
Slide 31: TSGYO Stock Performance
TSGYO Stock Performance TSGYO - Relative Performance to BIST REIT Index
Slide 32: Net Asset Value
Net Asset Value TSGYO Net Asset Value (NAV) ( TL ) Hotel 889.659.355 Divan Adana Hotel 889.659.355 Office Buildings 3.260.141.693 Fındıklı Buildings 2.838.072.996 Tahir Han Building 422.068.697 Shopping Center 1.333.960.731 Pendorya Shopping Center 1.333.960.731 Total Real Estate Value 5.483.761.779
Slide 33: Appendix
Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix
Slide 34: Regulation Highlights
Regulation Highlights ✓ Capital markets institution, under the supervision of the CMB ✓ Corporate tax exemption ✓ Allowed to invest in real estate, real estate projects, rights and capital market instruments backed by real estate, and money and capital market instruments ✓ >51% of the the portfolio
Slide 35: Public REITs
Public REITs ❑ Adra REIT ❑ İş REIT ❑ Şeker REIT ❑ Akfen REIT ❑ Kızılbük REIT ❑ Torunlar REIT ❑ Akiş REIT ❑ Kiler REIT ❑ Trend REIT ❑ Akmerkez REIT ❑ Körfez REIT ❑ TSKB REIT ❑ Alarko REI ❑ Kuzu REIT ❑ Vakıf REIT ❑ ASCE REIT ❑ Martı REIT ❑ Vera Konsept REIT ❑ Ata REIT ❑ MHR REIT ❑ Yapı Kredi Koray REI
Slide 36: Disclaimer
Disclaimer This presentation does contain forward-looking statements that reflect the Company management’s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be a
Slide 37: TSKB Real Estate Investment Trust
BKBEO REAL ESTATE INVESTMENT TRUST