Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (September 2017)
85 slides from Helios Re Socimi's investor presentation, September 2017
Slide 1: Corporate Presentation
Corporate www.larespana.com Presentation Septiembre 2017
Slide 2: Index
Index 01 02 03 04 05 06 Company Portfolio Retail Non-Retail Financial ESG Description Strategy Strategy Results Results
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 Exchange PIMCO; 20.0% Focused on creating both sustainable income and strong capital returns for shareholders Brandes Investment Lar España is managed by Grupo Lar, private Real Estate Asset Partners; 5.0%
Slide 5: Board of Directors & Critical Activities
5 Board of Directors & Critical Activities Independent and experienced Board: Critical Activities internalized 5 independent directors (5 out of 7) José Luis del Valle Roger Cooke Pedro Luis Uriarte Sergio Criado Jon Armentia Susana Guerrero Chairman and Independent Independent CFO Corporate Legal I
Slide 6: €1.45 Bn of assets in 31 acquisitions since IPO
6 Major milestones since 2014 30. RP Parque Abadía 31. RU 22 Retail Units 22. SC El Rosal 23. RU Galaria 28. RP Vistahermosa 24. RC Vidanova Parc Development 4. OF Marcelo Spinola 25. RC Megapark 5. SC Albacenter 6. SC Anecblau 7. LW Alovera 15. RE Lagasca99 1. SC Txingudi 8. RU Villaverde 2. SC Las
Slide 7: Retail platform + non-retail assets
7 Retail platform + non-retail assets MALL Retail Offices Logistics Residential Top retail player Offices in consolidated Focus on logistic Development of first homes locations of Madrid and properties on a selective in niche markets without Leading Shopping Centres Barcelona with good basis with lo
Slide 8: Portfolio at a glance
8 Portfolio at a glance GAV (€Bn) EPRA Annualized Net Rent (€Mn) Logistics Residential 5% Logistics 8% Offices 6% 7% Offices 12% Retail Dev €1.451 €72.32 Retail 5% 85% Retail 72% EPRA Topped-up NIY Occupancy Rate 7.2% 5.9% 100.0% 94.3% 89.5% 3 4.1% 3 5.8%3 TOTAL 94.3%3 LAR TOTAL ESPAÑA LAR EPRA ESPA
Slide 9: Strengths
9 Strengths Unique exposure to real estate retail Resilient prime dominant shopping assets and the Spanish consumer centers in attractive catchment areas recovery Upside potential from acquisitions done Recurrent cash flow generation from a at attractive capital values with 6.6% Net Initial Yield on
Slide 10: Lar España Strategy
10 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 MANAGEMENT implementing an Active Management Strategy in order to deliver “Alpha” >100 Real Estate Company’s business strategy is to ac
Slide 11: Retail Assets
11 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 12: Non-Retail Assets
12 Non-Retail Assets 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 markets as a good complem
Slide 13: Company Description
13 01 Company Description The Company: Lar España The Manager: Grupo Lar Anecblau Shopping Center ,Barcelona
Slide 14: Grupo Lar Snapshot
14 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 4
Slide 15: Experience in all asset classes
15 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 Industrial 10,000 residential developed or man
Slide 16: Successful international experience
16 Successful international experience Retail co-investments – Joint Ventures with Tier 1 Investors Whitehall MSREF
Slide 17: Manager contract: commitment and exclusivity
17 Commitment and exclusivity Grupo Lar now owns a 5.7% stake in Lar España, subject to a lock-up period Manager 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 18: Portfolio
02 Portfolio Vistahermosa Retail Park, Alicante
Slide 19: Portfolio distribution
19 Portfolio distribution Location by asset class 16 RETAIL ASSETS + 22 RETAIL UNITS 77% GAV 5 OFFICES 12% GAV 5 LOGISTICS 6% GAV 1 RESIDENTIAL 5% GAV
Slide 20: Retail portfolio largest assets: 59% GAV
20 Retail portfolio largest assets: 59% GAV Megapark Gran Vía Vigo Palmas Altas P. Marina El Rosal Anecblau As Termas P. Abadía Dominant in its catchment area % of High Quality Tenants1 98% 100% n.a. 95% 89% 98% 99% 99% Value Added Occupancy Tenant mix Extension
Slide 21: Retail portfolio mid assets: 18% GAV
21 Retail portfolio mid assets: 18% GAV Vistahermosa Albacenter Txingudi Vidanova Parc Las Huertas Other Retail Units6 Dominant in its catchment area % of High Quality Tenants1 100% 85% 80% 90% 70% 100% Value Added Occupancy Occupancy Retenanting Dominant Renovation
Slide 22: Non Retail Assets Portfolio: LRE 23% GAV
22 Non Retail Assets Portfolio: LRE 23% GAV Non-Retail Assets Offices Logistics Residential Number of Assets 5 5 1 GLA (sqm) 50,634 161,841 9,453 Occupancy rate2 (%) 85.5%1 100% n.a. GAV (€ Mn) 178.6 85.7 71.5 GAV (€/sqm) 3,530 530 6,961 Passing Rent (€ Mn) 4.6 5.6 n.a. EPRA NIY (%) 3.6%1 6.7% n.a.
Slide 23: Strong valuation performance in all asset classes
23 Strong valuation performance in all asset classes Total Portfolio Retail Portfolio Value evolution € Mn Portfolio Value 19.5% Valuation growth 16.0% 15.2% CAGR1: 9.7% 10.2% 1,508 H1 LfL 2017/16 Since Acquisition H1 LfL 2017/16 Since Acquisition 1,275 Offices Logistics Developments 899 40.0 27.1 3
Slide 24: Significant potential upside in rents from reversion and developments
24 Significant potential upside in rents from reversion potential and developments project – For illustrative purposes – Estimated Future Existing Developments Investments c.110 14 103 Existing Income Generating Assets 4 2 85 c.6 5 6 72 Annualised net Reversionary Reversionary Marcelo Spínola Revers
Slide 25: Retail Strategy
03 Retail Strategy Gran Vía de Vigo Shopping Centre
Slide 26: Well defined investment strategy
26 Well defined investment strategy Asset Type Shopping centres and retail parks Asset Prime dominant assets in their catchment areas Quality and Large properties for their catchment (30,000 – 100,000 sqm) Location Located in high density population areas Segment Value added: Creating shopping exper
Slide 27: Outperforming the market
27 Outperforming the market Lar España is outperforming the market3 Top 5 tenants represent >30% retail rents Lar España % RETAIL RENTS Nº UNITS Retail Sales +8.8% Lar España 9% 52 Footfall +5.7% 7% 5 Spain Retail AECC2 Index1 +3.6% 7% 2 +2.9% Footfall Index Spain +0.9% 4% 4 4% 6 1 INE. Spanish Reta
Slide 28: Good prospects of the Spanish Economy
28 Good prospects of the Spanish Economy Spanish economy has been surprising on the upside during the last years Positive Outlook in GDP Growth % YoY Change Spain Eurozone It is expected to continue outperforming the Eurozone Confidence of consumers keeps growing in line with income and stable
Slide 29: The value of a retail platform
29 The value of a retail platform 501,505 sqm, 850 shops, c.53 Mn visitors, 16 cities Top 10 players own 159 shopping centres which represent c.25% of the total Spanish market Retail Leaders in Spain #1 Controlling Stake Total Assets GLA per Asset #2 Investment Volumes Owned GLA Estimate No. Assets
Slide 30: Retail Approach
30 Retail Approach 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 no other competitor in th
Slide 31: Lar España Digital Transformation
31 Lar España Digital Transformation Market trends forecasted that individuals will shop increasingly by a combination of online and offline, versus a significant reduction of only online or only offline shopping Customers Retailers Lar España New buying channel Better Customer Service and bette
Slide 32: Retail Operating Trends
32 Retail Operating Trends Top 5 rent generating core Letting Strategy at the core of the strategy dominant shopping center 55 Megapark 18% Operations Gran Vía… 15% 8,961 sqm 2,835 sqm Renovations New Portal de… 11% 6% Lettings El Rosal 11% Relettings Total GLA1 Anec Blau 9% Sales Footfall Occupancy
Slide 33: On track in the delivery of our developments
33 On track in the delivery of our developments After phase 1 & 2, Construction phase to Construction licenses approved to start start on August 2017 works in Palmas Altas 11,300 New sqm leased c.85% +2 +41% +5 GLA signed & committed 1 Operations signed GLA signed and committed1 Operations signed in
Slide 34: Non-Retail Strategy
04 Non-Retail Strategy Egeo Office Building, Madrid
Slide 35: Logistics Overview
35 Logistics Overview Strategy GAV Breakdown of Logistics assets Focus on logistic properties on a selective Alovera II Alovera IV basis with low rents, low capital values and 49% 11% 6% high yields o/GAV Location Alovera I Alovera III Almussafes 100% 23% 5% 12% Occupancy Valencia Ratio1 5-Top tenan
Slide 36: An opportunity to enhance Lar España's presence in Logistics
36 An opportunity to enhance Lar España’s presence in Logistics 161,841 5 Logistics GLA Operating Assets 100% €2.6 Mn €6.1 Mn +11% Occupancy GRI H1 2017 Epra Annualized YoY LfL Topped up rent 9.23% 7.2% Initial yield on Cost EPRA Topped-up Net Initial Yield Cheste, Valencia - Prime and strategic loc
Slide 37: Offices Overview
37 Offices Overview Strategy GAV Breakdown of Office assets Consolidated locations in Madrid and Barcelona M. Spínola J. Miró 12% 20% 12% o/GAV Good Connections/ Public Transports Recurrent activity with selective rotation 85.5% Egeo Arturo Soria E. Gonzalo Occupancy 43% 16% 9% Ratio1 10 Top-tenants
Slide 38: Non-retail assets - Offices
38 Non-retail assets - Offices Stabilised Assets +27% offices revaluation since acquisition Offices assets reaching 3 years in the portfolio Asset rotation will be a source of value for Lar España Joan Miró Arturo Soria Egeo 4.0% EPRA 4.9% EPRA 3.8% EPRA Topped Up Yield Topped Up Yield Topped Up
Slide 39: Non-retail assets – Lagasca 99
39 Non-retail assets – Lagasca 99 Q2 2018 Estimated delivery date Construction works on schedule 100% structure completed Façade and rest of the building on In process progress on schedule High interest from national and international investors Financing of 100% of Price c.11,000 €/sqm construction
Slide 40: Financial Results
05 Financial Results – Q1 2017 Lagasca 99 Residential Development, Madrid
Slide 41: Successful & Strong Key Facts delivered in H1 2017
41 Successful & Strong Key Facts delivered in H1 2017 +38% vs 1.448 Mn GAV 1 H1 2016 +50% vs EPRA NAV 65 Mn EBT H1 2016 €9.28 EPRA NAV 859.2 per share (€ Mn) Rental +40% vs EPRA EPRA 37.5 Mn Income H1 2016 5.8% “topped-up” NIY 5.6% Net Initial Yield €0.33 dividend EPRA 30 Mn Dividend 2016 per share
Slide 42: Consolidated Income Statement (Thousands of €)
42 Consolidated Income Statement (Thousands of €) Recurrent H1 2017 H1 2016 1H17/1H16 Recurring Non-Recurring Total Recurring Non-Recurring1 Total Rental Income 37,547 - 37,547 +40.0% 26,872 - 26,872 Other income 1,002 - 1,002 794 - 7,772 Property Operating Expenses (6,303) - (6,303) (4,966) - (4,96
Slide 43: Solid Company performance in H1 2017
43 Solid Company performance in H1 2017 37.5 Mn Revenues +40% vs H1 2016 65.0 Mn EBT (Net Profit) +50% vs H1 2016 01 Solid H1 2017 Results and Balance Sheet 17.0 Mn EPRA Earnings +49% vs H1 2016 859.2 Mn EPRA NAV €9.28 p.s.1 39% net LTV; 590.7 Mn Gross Debt 2.18% cost of debt Retail NOI lfl improvem
Slide 44: Creating value through wise debt management
Financing during H1 2017 44 Creating value through wise debt management €139 Mn of financing @ avge fixed rate < 2% Disciplined and prudent financing targeted at creating value Besides, In April 2017, refinancing of €20Mn in Lagasca99 € Mn & Financing of 100% of construction costs agreed Better
Slide 45: Lar España's Debt Profile
45 Lar España’s Debt Profile Back-loaded Amortization Profile €590.7Mn Key Figures of the financing 1 € Mn €140Mn Senior Secured Bond €451.3Mn Bank Debt 446.6 140 39% Net Loan to Value (LTV) 90.9 307.1 35.6 9.6 2.4 5.2 2.18% Average Cost of Debt2 1 Year 2 Years 3 Years 4 Years 5 Years > 5 Years -42
Slide 46: ESG Results
06 ESG Results
Slide 47: ESG - Creating value
47 ESG - Creating value Environment Social Capital Assets (Portfolio) Corporate Governance Positive effect on the People’s talent forms the Our properties have a positive Having a positive community. cornerstone of the effect on their urban effect on the environment Creating employment : economic
Slide 48: ESG - Creating value
48 ESG - Creating value Responsible business model 3 Development Regenerate and renovate buildings, and improve public spaces; innovating and adapting to technological, demographic 5 Divestment and economic changes Analyse assets, taking into 1 Fundraising account social and environmental aspects We
Slide 49: ESG - Creating value
49 ESG - Creating value 1 Responsible asset management & environmental performance Promoting sustainability certification measures, Currently preparing a CSR Master encouraging the use of new technology to improve our assets’ environmental quality and Plan to meet the most demanding management susta
Slide 50: ESG - Creating value - Corporate Governance
50 ESG - Creating value - Corporate Governance Objectives of the Action Plan Ensuring strong governance Transparency in management Continuous monitoring Regulatory compliance Business ethics Director activities Evaluating & improving board’s Corporate social responsibility & Selection an
Slide 51: ESG - Creating value - Corporate Governance
51 ESG - Creating value - Corporate Governance Risk Control & Management System The integrated enterprise risk management (ERM) system has been designed to mitigate the risks to which the organisation is exposed by virtue of its business activities. Risk Map: the ERM system categorises risk into one
Slide 52: Closing Remarks
Closing Remarks Parque Abadía Retail Park, Toledo
Slide 53: Closing Remarks Investment Opportunity
53 Closing Remarks Positive assets evolution during 2nd Quarter of 2017 Active Management keeps supporting NOI increase in Retail assets Last Asset valuation appraisal yielded a LfL growth of 4.5%, up to €1.45 Bn New accretive acquisitions of €112.9 Mn in 1H 2017 pushes annualised net rent b
Slide 54: Appendix - Assets
Appendix - Assets Anec Blau Shopping Centre, Barcelona
Slide 55: Megapark, Bilbao
55 RETAIL COMPLEX Megapark, Bilbao Location Acquisition Price Bilbao EUR 170.0 Mn GLA Market Value (June 2017) 63,576 Sqm EUR 192.0 Mn Purchase Date EPRA NIY 19 October 2015 5.1% WAULT Occupancy Rate1 2.3 years 92.7% 1. Based in EPRA standards
Slide 56: Gran Vía de Vigo, Pontevedra
56 SHOPPING CENTRE Gran Vía de Vigo, Pontevedra Location Acquisition Price Vigo, Pontevedra EUR 141.0 Mn GLA Market Value (June 2017) 41,436 Sqm EUR 153 Mn Purchase Date EPRA NIY 15 September 2016 5.8% WAULT Occupancy Rate1 2.9 95.8% 1. Based in EPRA standards
Slide 57: El Rosal, León
57 SHOPPING CENTRE El Rosal, León Location Acquisition Price Ponferrada, León EUR 87.5 Mn GLA Market Value (June 2017) 51,022 Sqm EUR 100.4 Mn Purchase Date EPRA NIY 7 July 2015 5.8% WAULT Occupancy Rate1 2.5 years 89.7% 1. Based in EPRA standards
Slide 58: Portal de la Marina, Alicante
58 SHOPPING CENTRE Portal de la Marina, Alicante Location Acquisition Price Ondara, Alicante EUR 89.2 Mn GLA Market Value (June 2017) 40,066 Sqm EUR 114.3 Mn Purchase Date EPRA NIY 30 Oct ’14/ 9 Jun ’15/ 30 Mar ‘16 5.8% WAULT Occupancy Rate1 2.5 years 96.6% 1. Weighted average price of acquisitions
Slide 59: Anec Blau, Barcelona
59 SHOPPING CENTRE Anec Blau, Barcelona Location Acquisition Price Barcelona EUR 80.0 Mn GLA Market Value (June 2017) 28,598 Sqm EUR 95.0 Mn Purchase Date EPRA NIY 31 July 2014 5.1% WAULT Occupancy Rate1 2.7 years 93.4% 1. Based in EPRA standards
Slide 60: As Termas, Lugo
60 SHOPPING CENTRE As Termas, Lugo Location Acquisition Price Lugo EUR 68.8 Mn GLA Market Value (June 2017) 35,127 Sqm EUR 80.8 Mn Purchase Date EPRA NIY 15 Apr ‘15/ 28 Jul ‘15 6.4% WAULT Occupancy Rate1 1.9 years 95.0% 1. Based in EPRA standards
Slide 61: Parque Abadía, Toledo
61 RETAIL PARK Parque Abadía, Toledo Location Acquisition Price Toledo EUR 63.1 Mn GLA Market Value (June 2017) 37,114 Sqm EUR 63.7 Mn Purchase Date NIY 27 March 2017 6.3% WAULT Occupancy Rate1 3.0 100% 1. Based in EPRA standards
Slide 62: 22 Retail Units
62 22 RETAIL UNITS North of Spain + Balearic Islands Location Acquisition Price North of Spain + Balearic Is. EUR 47.6 Mn GLA Market Value (June 2017) 28,822 Sqm EUR 50.1 Mn Purchase Date NIY 27 March 2017 7.3% WAULT Occupancy Rate1 13.8 100% 1. Based in EPRA standards
Slide 63: Vistahermosa, Alicante
63 RETAIL PARK Vistahermosa, Alicante Location Acquisition Price Alicante EUR 42.5 Mn GLA Market Value (June 2017) 33,550 Sqm EUR 47.5 Mn Purchase Date EPRA NIY 16 June 2016 5.8% WAULT Occupancy Rate1 6.0 years 91.8% 1. Based in EPRA standards
Slide 64: Palmas Altas, Seville
64 SHOPPING CENTRE Palmas Altas, Seville Location Acquisition Price Seville EUR 40.5 Mn Retail and family leisure space Market Value (June 2017) 100,000 Sqm EUR 42.0 Mn Purchase Date Expected NIY 1 March 2016 > 8% Expected Opening Date Expected development costs Q1 2019 EUR 109.0 Mn
Slide 65: Albacenter, Albacete
65 SHOPPING CENTRE Albacenter, Albacete Location Acquisition Price Albacete EUR 39.9 Mn GLA Market Value (June 2017) 27,890 Sqm EUR 52.1 Mn Purchase Date EPRA NIY 30 Jul ’14/ 19 Dec ‘14 5.6% WAULT Occupancy Rate1 2.2 years 89.2% 1. Based in EPRA standards
Slide 66: Txingudi, Guipúzcoa
66 SHOPPING CENTRE Txingudi, Guipúzcoa Location Acquisition Price Irún, Guipúzcoa EUR 27.7 Mn GLA Market Value (June 2017) 10,127 Sqm EUR 38.5 Mn Purchase Date EPRA NIY 24 March 2014 5.9% WAULT Occupancy Rate1 2.8 years 97.3% 1. Txingudi Occupancy pro-forma is 97.5%. . Txingudi actual occupancy rate
Slide 67: Vidanova Parc, Valencia
67 RETAIL PARK Vidanova Parc, Valencia Location Acquisition Price Sagunto, Valencia EUR 14.0 Mn GLA Market Value (June 2017) 44.252 Sqm EUR 19.6 Mn Purchase Date Expected NIY 3 August 2014 > 9% Expected Opening Date Expected development costs Q1 2018 EUR 26.0 Mn
Slide 68: Las Huertas, Palencia
68 SHOPPING CENTRE Las Huertas, Palencia Location Acquisition Price Palencia EUR 11.7 Mn GLA Market Value (June 2017) 6,267 Sqm EUR 12.6 Mn Purchase Date EPRA NIY 24 March 2014 6.5% WAULT Occupancy Rate1 2.1 years 86.2% 1. Based in EPRA standards
Slide 69: Nuevo Alisal, Santander
69 RETAIL PARK Nuevo Alisal, Santander Location Acquisition Price Santander EUR 17.0 Mn GLA Market Value (June 2017) 7,649 Sqm EUR 19.1 Mn Purchase Date EPRA NIY 17 December 2014 6.2% WAULT Occupancy Rate1 2.6 years 100.0% 1. Based in EPRA standards
Slide 70: Villaverde, Madrid
70 RETAIL PARK Villaverde, Madrid Location Acquisition Price Madrid EUR 9.1 Mn GLA Market Value (June 2017) 4,391 Sqm EUR 11.2 Mn Purchase Date EPRA NIY 29 July 2014 5.9% WAULT Occupancy Rate1 5.3 years 100.0% 1. Based in EPRA standards
Slide 71: Galaria, Pamplona
71 RETAIL PARK Galaria, Pamplona Location Acquisition Price Pamplona EUR 8.4 Mn GLA Market Value (June 2017) 4,108 Sqm EUR 10.6 Mn Purchase Date EPRA NIY 23 July 2015 6.3% WAULT Occupancy Rate1 4.4 years 100.0% 1. Based in EPRA standards
Slide 72: Egeo, Madrid
72 OFFICES Egeo, Madrid Location Acquisition Price Madrid EUR 64.9 Mn GLA Market Value (June 2017) 18,254 Sqm EUR 76.1 Mn Purchase Date EPRA NIY 16 December 2014 3% WAULT Occupancy Rate1 3.9 years 89.0% 1. Based in EPRA standards
Slide 73: Marcelo Spínola, Madrid
73 OFFICES Marcelo Spínola, Madrid Location Acquisition Price Madrid EUR 19.0 Mn GLA Market Value (June 2017) 8,875 Sqm EUR 33.5 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 74: Arturo Soria, Madrid
74 OFFICES Arturo Soria, Madrid Location Acquisition Price Madrid EUR 24.2 Mn GLA Market Value (June 2017) 8,663 Sqm EUR 28.9 Mn Purchase Date EPRA NIY 29 July 2014 4.9% WAULT Occupancy Rate1 1.9 years 87.1% 1. Based in EPRA standards
Slide 75: Joan Miró, Barcelona
75 OFFICES Joan Miró, Barcelona Location Acquisition Price Barcelona EUR 19.7 Mn GLA Market Value (June 2017) 8,611 Sqm EUR 21.4 Mn Purchase Date EPRA NIY 11 June 2015 4.0% WAULT Occupancy Rate1 1.0 years 94.1% 1. Based in EPRA standards
Slide 76: Eloy Gonzalo, Madrid
76 OFFICES Eloy Gonzalo, Madrid Location Acquisition Price Madrid EUR 12.7 Mn GLA Market Value (June 2017) 6,231 Sqm EUR 18.8 Mn Purchase Date EPRA NIY 23 December 2014 Under refurbishment WAULT Occupancy Rate1 1.9 years Under refurbishment 1. Based in EPRA standards
Slide 77: Alovera II, Guadalajara
77 LOGISTICS Alovera II, Guadalajara Location Acquisition Price Guadalajara EUR 32.1 Mn GLA Market Value (June 2017) 83,952 Sqm EUR 41.5 Mn Purchase Date EPRA NIY 13 October 2014 6.6% WAULT Occupancy Rate1 0.2 years 100.0% 1. Based in EPRA standards
Slide 78: Alovera I, Guadalajara
78 LOGISTICS Alovera I, Guadalajara Location Acquisition Price Guadalajara EUR 12.7 Mn GLA Market Value (June 2017) 35,196 Sqm EUR 18.4 Mn Purchase Date EPRA NIY 7 October 2014 6.7% WAULT Occupancy Rate1 2.0 years 100.0% 1. Based in EPRA standards
Slide 79: Almussafes, Valencia
79 LOGISTICS Almussafes, Valencia Location Acquisition Price Valencia EUR 8.4 Mn GLA Market Value (June 2017) 19,211 Sqm EUR 9.8 Mn Purchase Date EPRA NIY 26 May 2015 7.2% WAULT Occupancy Rate1 2.5 years 100.0% 1. Based in EPRA standards
Slide 80: Alovera IV (C5-C6), Guadalajara
80 LOGISTICS Alovera IV (C5-C6), Guadalajara Location Acquisition Price Guadalajara EUR 7.2 Mn GLA Market Value (June 2017) 14,891 Sqm EUR 9.5 Mn Purchase Date EPRA NIY 26 May 2015 7.6% WAULT Occupancy Rate1 1.7 years 100.0% 1. Based in EPRA standards
Slide 81: Alovera III, Guadalajara
81 LOGISTICS Alovera III, Guadalajara Location Acquisition Price Guadalajara EUR 3.0 Mn GLA Market Value (June 2017) 8,591 Sqm EUR 4.1 Mn Purchase Date EPRA NIY 26 May 2015 5.2% WAULT Occupancy Rate1 0.8 years 100.0% 1. Based in EPRA standards
Slide 82: Cheste, Valencia
82 LOGISTICS Cheste, Valencia Location Acquisition Price Valencia EUR 2.3 Mn cost of land + urbanization costs GLA Market Value (June 2017) 118,160 Sqm EUR 2.3 Mn Purchase Date EPRA NIY 1Q 2017 -
Slide 83: Lagasca 99, Madrid
83 RESIDENTIAL Lagasca 99, Madrid Location Acquisition Price1 Madrid EUR 50.1 Mn GLA Market Value (June 2017) 26,203 Sqm EUR 71.5 Mn Purchase Date Construction Period 30 January 2015 2016 - 2018 1. Corresponds to the 50% of the JV with PIMCO
Slide 84: Disclaimer
84 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 85: Contact us
Contact us Corporate www.larespana.com Presentation Lar España Real Estate SOCIMI
Lar España Real Estate SOCIMI — Investor Presentation (September 2017) on 6ix