Consultatio SA · BCBA:CTIO
Consultatio SA — Q3 2021 Earnings Presentation
54 slides from Consultatio SA's earnings presentation, 2021
Slide 1: Consultatio Real Estate
Comsultatio REAL ESTATE
Slide 2: Company Presentation 3Q'2021
Consultatio Company Presentation 3Q′ 2021 Residential buildings
Slide 3: Disclaimer
Disclaimer The following documents contain the general description and background of Consultatio S.A. and its subsidiaries (collectively designated hereafter as “Consultatio” or the “Company”) as of the date hereof. This is an information Company, and it is not the basis for and shall not be deemed,
Slide 4: A leading high-end residential and commercial real estate developer
A leading high-end residential and commercial real estate developer Attractive & diversified business segments Successful track-record with unique prospects Over 28 years as a developer with a proven track-record of creating value and managing risk. Attractive long-term fundamentals and undersupply
Slide 5: Flexible business model and ability to presell products underpin our financing structure
Flexible business model and ability to presell products underpin our financing structure We operate in three business segments Master-planned communities Residential buildings Development and revaluation of land for mixed use Development of high-end and luxury residential purposes. Sale of land lots
Slide 6: Consultatio initiating its third expansion phase
Consultatio initiating its third expansion phase 1991-2006 2007-2016 2017-2021 Launch and early expansion Local IPO and aggressive expansion Expansion focused through opportunistic acquisitions through development across geographies in Argentina 1991 2001 2007 2010 2017 Acquisition of Catalinas Plaz
Slide 7: Developed more than 235k sqm and more than 1,800 hectares of land
Developed more than 235k sqm and more than 1,800 hectares of land Master-planned communities XX% Construction Progress 76% 39% 80% 100% 100% 0% Nordelta Puertos Las Garzas Catalinas Plaza Catalinas Catalinas Nordelta, AR Escobar, AR Rocha, UY & Alem Plaza Norte Río Buenos Aires, AR Buenos Aires, AR
Slide 8: Industry Update
Industry Update
Slide 9: The housing sector
The housing sector With a more stable macroeconomic context, attractive fundamentals are set for broad sector opportunity Historic Underinvestment In The Residential Real Estate Sector & Low Penetration Of Mortgage Credit In The Economy Housing deficit (million houses) Mortgage Lending/GDP (%) Quali
Slide 10: An undersupplied market relative to other Latam countries
An undersupplied market relative to other Latam countries, with limited new space entering the market Demand for corporate space in the AAA segment has decreased since the COVID-19 Net absorption ('000 sqm) New inventory ('000 sqm) 149 122 135 122 81 90 98 72 65 90 68 60 81 59 60 48 72 65 49 45 70 6
Slide 11: Master-planned communities
Comfort Comfortand andsafety safetyfor forfamily familymembers memberscombined combinedwith withflexible flexibledevelopment developmentplanning planningand anda aconservative conservativefinancing financingmodel mode Master-planned communities
Slide 12: Master-planned communities
Master-planned communities Nordelta & Puertos, Buenos Aires, Argentina 12 Consultatio Company Presentation 3Q′ 2021
Slide 13: Pioneers of the Master-planned communities in Argentina
Pioneers of the Master-planned communities in Argentina Since the launch of Nordelta in 1999, Consultatio became the undisputed leader in this segment Location Significant saleable area remains Nordelta Puertos Las Garzas Nordelta Escobar Rocha Northern BA Northern BA Uruguay Puertos Land acquisitio
Slide 14: A business model based on a simple premise: land revaluation
A business model based on a simple premise: land revaluation We start with raw, undervalued land, attract residents and generate demand for the last “precious” land plots Valuable asset base generates substantial cash flow 2 4 1 3 5 Nordelta and Puertos When project starts to New homeowners Nordelta
Slide 15: Comfort and safety combined with an adaptable product and conservative financing model
Comfort and safety for family members combined with an adaptable product and a conservative financing model Key innovative concepts The Master-planned Scale Proximity / Access Self-funded Flexible community concept Projects model Combines all facilities of a Scale provided by 1,700 Unique location.
Slide 16: Nordelta today
Nordelta today Tigre, Argentina 16 Consultatio Company Presentation 3Q′ 2021
Slide 17: Nordelta today
Nordelta today Over 20 years, we transformed a raw landscape into a community with 40,000 residents 2001 2021 F J O 1,700 26 11,320 40,000 US$ 583M Lorem ipsum US$ 1.500B hectares neighborhoods residential and residents investments by invested by third commercial units Nordelta S.A. parties 17 Consu
Slide 18: A 1,700-hectare piece of land with more than 40,000 residents
A 1,700-hectare piece of land with more than 40,000 residents… Based on demand, we can add attractive waterfront to maximize returns Low density Developed 15% Under development 1,039 plots (estimated) 85% 5,690 plots High density 40% 570,000 sqm (estimated) 60% 850,000 sqm 18 Consultatio Company Pre
Slide 19: Characterized by a unique range of services
…characterized by a unique range of services Scale allows Nordelta to include a wide variety of services unseen in peers’ projects Health Care Hotel The Bridge Otamendi and Las Lomas Windham 5-star hotel. El Muelle, social events private healthcare and gatherings facing developments. the Central lak
Slide 20: Puertos
Puertos Escobar, Argentina 20 Consultatio Company Presentation 3Q′ 2021
Slide 21: Puertos
Puertos Following our experience with Nordelta, we launched Puertos in 2010 2010 2021 1,400 9 2,589 2 US$ 281M 800 hectares neighborhoods lots sold schools investments students by CTIO 21 Consultatio Company Presentation 3Q′ 2021
Slide 22: Launched in 2010, Puertos is our second master-planned community
Launched in 2010, Puertos is our second master-planned community With a total area of 1,400 hectares, Puertos is almost the size of Nordelta Low density Developed 60% Under development 3,264 plots (estimated) 40% 2,302 plots High density 99% 816,000 sqm (estimated) 1% 7,000 sqm 22 Consultatio Compan
Slide 23: A unique set of services
A unique set of services Like Nordelta, Puertos meets the minimum scale to include a city-like range of services The Beach Outdoor life Commercial Area “La Playa”, social events Eco Walking Community. Shops, services. and gatherings facing Bicycles. the Central lake. Cycle lanes. Education Natural R
Slide 24: Historically strong and value generating sales performance
Historically strong and value generating sales performance Historically strong Our master-planned andhave communities value generating historically sales met a solid performance demand that allowed them to be self-funded Our master-planned communities have historically met a solid demand that allowe
Slide 25: Las Garzas
Las Garzas Rocha, Uruguay 25 Consultatio Company Presentation 3Q′ 2021
Slide 26: Las Garzas
Las Garzas Exclusive gated residential resort near Punta del Este, Uruguay Location Project description Located in a touristic area, 15 minutes away from José Ignacio in a unique location. Uruguay Las Garzas 240 hectares masterplan designed to preserve the tranquility of the region and its natural b
Slide 27: Exclusive amenities to enjoy nature
Exclusive amenities to enjoy nature Designed for families seeking relaxation and tranquility Beach Deck Sports Pool Waterfront deck Beach club Adult pool with jacuzzi Massage room Children swimming pool with sauna and playground Gym Tennis courts Restaurant Beach services Adventure Living room and F
Slide 28: Residential buildings
Residencial buildings
Slide 29: Initial launches in Buenos Aires
Initial launches in Buenos Aires Three iconic residential buildings consolidate the Consultatio brand Location Projects Quartier Grand Torre Ocampo Bourg Oro BUENOS AIRES Delivery 2001 2004 2005 Sellable area (sqm) 12,912 7,430 14,509 Potential sales value US$ 28M US$ 22M US$ 36M Torre Oro Units 104
Slide 30: Our experience in the US: Oceana was born
Our experience in the US: Oceana was born Two luxury residential towers in the US developed where scarcity was assured Location Projects Oceana Oceana Key Biscayne Bal Harbour Delivery 2014 2016 Oceana Bal Harbour Contracted sales / Total PSV US$ 629M US$ 1,127M/1,225M Units sold / Total units 154 /
Slide 31: Oceana Key Biscayne
Oceana Key Biscayne Florida, United States 31 Consultatio Company Presentation 3Q′ 2021
Slide 32: Oceana Bal Harbour
Oceana Bal Harbour Florida, United States 32 Consultatio Company Presentation 3Q′ 2021
Slide 33: New residential in Argentina
New residential in Argentina In 2017, we purchased three lots for US$ 75 million to develop new residential projects in Buenos Aires Location Projects Oceana Oceana Huergo 475 Puerto Madero Nordelta BUENOS AIRES Río de la Plata Delivery 2022 2025 2025 Central Business District Contracted sales / Tot
Slide 34: Oceana Puerto Madero
Oceana Puerto Madero After securing 43% of sellable area for US$ 88 million, we started construction works in 3Q’18 Project description Oceana Puerto Madero has 27,783 sqm of saleable residential area and 1,844 sqm of sellable retail space. Status: 51% of residential area sold. We started constructi
Slide 35: Oceana Puerto Madero
Oceana Puerto Madero Buenos Aires, Argentina 35 Consultatio Company Presentation 3Q′ 2021
Slide 36: Oceana Nordelta
Oceana Nordelta A unique location inside our master-planned community project surrounded by water and near Nordelta’s city center Project description In 3Q’17, we acquired a 23,080 sqm land plot in Nordelta for US$ 11 million (of which we paid 50%). We have a 50% stake on the project and the rest be
Slide 37: Oceana Nordelta
Oceana Nordelta Tigre, Argentina 37 Consultatio Company Presentation 3Q′ 2021
Slide 38: Huergo 475
Huergo 475 The project is part of the new green corridor that connects Puerto Madero with the city center Project description In 4Q’17, we acquired a 3,920 sqm land plot in Macrocentro for US$ 20 million in a public auction, held by the Argentinean National Administration. We have a 70% stake on the
Slide 39: Huergo 475
Huergo 475 Buenos Aires, Argentina Huergo Central Puerto 475 Business District Madero Paseo del Bajo 39 Consultatio Company Presentation 3Q′ 2021
Slide 40: Office Towers
Office Towers
Slide 41: Highly desirable locations with top tier tenants
Highly desirable locations with top tier tenants Project description Portfolio metrics Catalinas & Catalinas Catalinas Total Alem Plaza Norte Río commercial area in the City of Buenos Aires. Immersed in Buenos Aires Central Business district and close to Retiro Delivery 1995 - 1999 2016 - - Transpor
Slide 42: Catalinas Norte Tower
Catalinas Norte Tower Buenos Aires, Argentina 42 Consultatio Company Presentation 3Q′ 2021
Slide 43: New Catalinas District
New Catalinas District Paseo del Bajo and Catalinas Norte II will consolidate Catalinas District 43 Consultatio Company Presentation 3Q′ 2021
Slide 44: Catalinas Río
Catalinas Río In 2017 Consultatio acquired 3 adjacent lots in the Catalinas submarket for US$ 140 million Project description In 4Q’17, we acquired three adjacent lots located in Catalinas district, each with an area of 3,200 sqm for a total US$ 140.3 million (already paid). The project has a potent
Slide 45: Catalinas Río
Catalinas Río Buenos Aires, Argentina 45 Consultatio Company Presentation 3Q′ 2021
Slide 46: Company Structure
Company Structure
Slide 47: Top-tier management supported by experienced directors
Top-tier management supported by experienced directors Senior Management team with a proven track-record and an experience of more than 10 years in the company Senior Management Board of Directors Cristián Costantini. Chairman Cristián Costantini. Chairman He has a Licentiate degree in Business Admi
Slide 48: Project structure
Project structure Master-planned Residential US Residential communities buildings buildings towers 49.9% 80% 55.1% 100% Nordelta Oceana Puerto Madero Oceana Key Biscayne Catalinas Norte 100% 50% 41.14% 100% Puertos Oceana Nordelta Oceana Bal Harbour Catalinas Río 45% 70% Las Garzas Blancas Huergo 47
Slide 49: Corporate structure
Corporate structure A clean structure controlled by its founder 72% 25% 3% Eduardo Costantini ANSES Free float 100% 49.9% 45% 55.1% 55.1% Consultatio Nordelta Las Garzas Consultatio Consultatio Argentina S.A.U. S.A. S.A. Real Estate LLC Brokerage LLC 80% 100% 55.1% UTE Puerto Consultatio Consultatio
Slide 50: A pure real estate developer that is passionate about design
A pure real estate developer that is passionate about design Fully integrated from conception to delivery Headquarters Master-planned Residential Tigre + Escobar communities buildings towers Miami Inhouse Inhouse Inhouse Business development Tigre + Escobar + Catalinas Catalinas Catalinas Inhouse In
Slide 51: Appendix
Appendix
Slide 52: Nordelta, a development story
Nordelta, a development story A 24-year story of growth, showing our long-term view and determination. 1998-2002 2003-2008 2009-2016 2017-2021 Strong investments in infrastructure. Commercial agreements Condominiums by Commercial First launches with good public to attract visitors and public 3rd par
Slide 53: Besides presales, equity investors have been our primary source of funding
Besides presales, equity investors have been our primary source of funding Oceana Key Biscayne Oceana Bal Harbour Financial Structure Financial Structure US$ 375.1M a) Equity: US$ 132.5M (35% of total investment) US$ 695.6M a) Equity: US$ 173.6M (25% of total investment) total investment total inves
Slide 54: Creating value
Creating value In projects, in business, in heritage, but also on relationships and lifestyles. We create new paradigms. We are moved by the idea of adding. Adding knowledge, track-record and a vision of the future allows us to step-up from the role of consultants and become creators of new ways.