Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Investor Presentation (June 2017)
81 slides from Helios Re Socimi's investor presentation, June 2017
Slide 1: Corporate Presentation
Corporate www.larespana.com Presentation June 2017
Slide 2: Index
Index 01 02 03 04 05 06 Company Portfolio Retail Non-Retail Financial Closing Description Strategy 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 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: €1.4 Bn of assets in 31 acquisitions since IPO
5 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 6: Retail platform + non-retail assets
6 Retail platform + non-retail assets MALL Offices Logistics Residential Retail Offices in consolidated Focus on logistic Development of first homes locations of Madrid and properties on a selective in niche markets without Top retail player Barcelona with good basis with low rents, low zoning risk,
Slide 7: Main Figures
7 Main Figures GAV (€Bn) EPRA Annualized Net Rent (€Mn) Logistics Logistics Residential 5% 8% 6% Offices Offices 6% 12% €1.41 €72.12 Retail 86% Retail 77% EPRA Topped-up NIY Occupancy Rate 7.3% 6.1% 100.0% 5.9%3 TOTAL 94.2% 85.5% 2 93.8%3 LAR TOTAL 4.2%2 ESPAÑA LAR EPRA ESPAÑA Topped-up OCC. RATE NI
Slide 8: Strengths
8 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 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 MANAGEMENT implementing 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 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 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 Ensuring strong governance Transparency in management C
Slide 13: Governance Structure
13 Governance Structure 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 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 4
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 Industrial 10,000 residential developed or man
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 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 19: Portfolio
02 Portfolio Vistahermosa Retail Park, Alicante
Slide 20: Portfolio distribution
20 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 21: Retail portfolio largest assets: 59% GAV
21 Retail portfolio largest assets: 59% GAV Megapark Gran Vía Vigo Palmas Altas P. Marina El Rosal Anecblau As Termas P. Abadía LAR España largest assets represent 77% of its retail GAV Dominant in its catchment area % of High Quality Tenants1 98% 100% n.a. 95% 89% 98%
Slide 22: Retail portfolio mid assets: 18% GAV
22 Retail portfolio mid assets: 18% GAV Vistahermosa Albacenter Txingudi Vidanova Parc Las Huertas Other Retail Units LAR España mid assets represent 23% of its retail GAV Dominant in its catchment area % of High Quality Tenants1 100% 85% 80% 90% 70% 100% Value Added Occupa
Slide 23: Non Retail Assets Portfolio: LRE 23% GAV
23 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) 171.0 76.5 65.8 GAV (€/sqm) 3,377 473 6,961 Passing Rent (€ Mn) 4.6 5.6 n.a. EPRA NIY (%) 3.2%1 7.1% n.a.
Slide 24: Valuation
24 Valuation Valuation Bridge Since Acquisition Portfolio Value evolution and LfL Change € Mn € Mn Portfolio Value LfL Value Change 12.30% 125 1,400 127 1,275 6.10% 259 46 843 2014 2015 2016 Value Change by Asset Class Since Acquisition LfL 2016 vs 2015 Total 15.8% 12.3% Retail 13.5% Acquisition & A
Slide 25: Significant potential upside in rents from reversion potential and developments
25 Significant potential upside in rents from reversion potential and developments project – For illustrative purposes – Estimated Future Investments c.110 Existing Developments 14 96 Existing Income Generating Assets c.13 4 2 78 New 4 acquisitions 9 made in 2017 not 63 considered Annualised Reversi
Slide 26: Retail Strategy
03 Retail Strategy Gran Vía de Vigo Shopping Centre
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 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 28: Outperforming the market
28 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 29: Good prospects of the Spanish Economy
29 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 30: The value of a retail platform
30 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 31: Retail Approach
31 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 32: Lar España Digital Transformation
32 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 33: Operating assets backed by development projects
33 Operating assets backed by development projects Rent Generating Assets 2 Ongoing Developments Capex by asset Development Offices 74% 5% €6.5 Mn Retail 21% +12% 22 €18 Mn 60% GLA signed Rents growth from Operations in Q1 2017 Expected annual rental 20% under negotiation renewals/ relocations incom
Slide 34: New Acquisition: Parque Abadía
34 New Acquisition: Parque Abadía Prime retail park in Toledo with a 100% occupancy and Net Initial Yield of 6.0% With this acquisition Lar España becomes #1 player in retail parks in Spain Excellent Tenant Line-up €63.1 Mn 54,100 sqm (inc. gallery) Acquisition Price GLA 100% 37,114 sqm (69%) Other
Slide 35: New Acquisition: 22 Retail Units
35 New Acquisition: 22 Retail Units 100% occupied by Eroski supermarkets, in the north of Spain and Balearic Islands Cantabria Basque Country 53% total sales <5% Effort Rate 11% total sales in more than 80% supermarkets 5.2% Effort rate 4.2% Effort rate 2 10 2 Selling > 3,000 €/sqm in more than 70%
Slide 36: Non-Retail Strategy
04 Non-Retail Strategy Egeo Office Building, Madrid
Slide 37: Offices
37 Offices 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 by reven
Slide 38: Logistics
38 Logistics 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 tenants by rev
Slide 39: New Acquisition: Logistic plot of land in Cheste
39 New Acquisition: Logistic plot of land in Cheste Prime and strategic location along the main logistics axis of 118,160 Sqm Valencia, a key location for international trade within the GLA Mediterranean Corridor €85 per Sqm Excellent opportunity in an attractive logistic market Land Cost + urbaniza
Slide 40: New sources of value: Residential
40 New sources of value: Residential Q2 2018 Estimated delivery date Construction works on schedule 100% structure completed In process (8 floors, 10 levels) High interest from national and international investors Financing of 100% of Price c.11,000 €/sqm construction costs agreed 58% 44% 49% 30% FY
Slide 41: Financial Results – Q1 2017
05 Financial Results – Q1 2017 Lagasca 99 Residential Development, Madrid
Slide 42: Successful & Strong Key Facts delivered in Q1 2017
42 Successful & Strong Key Facts delivered in Q1 2017 +47% vs €1.4 Bn GAV 1 Q1 2016 +20.3% vs EPRA NAV €10.5Mn EBT (Net Profit) Q1 2016 €9.27 EPRA NAV €838. per share (€ ‘000s) 1 Rental +39% vs EPRA EPRA €18.0Mn Income Q1 2016 5.9% “topped-up” NIY 5.7% Net Initial Yield €0.33 dividend2 EPRA €30Mn Di
Slide 43: Q1 2017 P&L Consolidated Income Statement
43 Q1 2017 P&L Consolidated Income Statement (€ Millions) Recurrent Q1 2017 Q1 2016 1Q17/1Q16 Recurring Non-Recurring Total Recurring Non-Recurring1 Total Rental Income 18.0 - 18.0 13.0 - 13,0 Other income 0.6 - 0.6 0,3 7,0 7,3 Property Operating Expenses (4.1) - (4.1) (2.7) - (2.7) Base Fee (2.3) -
Slide 44: Solid Company performance in Q1 2017
44 Solid Company performance in Q1 2017 €18.0 Mn Revenues +39% vs Q1 2016 €10.5 Mn EBT (Net Profit) +20% vs Q1 2016 €8.8 Mn EPRA Earnings +50% vs Q1 2016 01 Solid Q1 2017 Results and Balance Sheet €838.1 Mn EPRA NAV +44% vs Q1 2016 38% net LTV; €531 Mn Net Debt (€556 Mn 2.2% cost of debt Gross Debt)
Slide 45: Lar España's Debt Profile
45 Lar España’s Debt Profile Long Term debt maturity and competitive cost of debt Key Figures of the financing 1 2.80% Cost of debt Average maturity8.0 140 2.6% 2.60% 6.9 2.5% 7.0 €531Mn 38% 2.2% 81% 2.40% 6.1 5.8 6.6 5.9 6.0 2.20% Net Loan to Average Hedge/ 2.3% 2.2% Net Debt Value (LTV2) Cost of F
Slide 46: Creating value through wise debt management
46 Creating value through wise debt management Portfolio and Debt evolution since IPO € Mn Q1 2017 New debt of €104 Mn raised 1600 GAV1: €1.4 Bn Leverage to up to 54.6% LTV for Gran Vía & Vistahermosa 1400 In April 2017, refinancing of €20Mn in Lagasca99 Operating Assets & Financing of 100% of c
Slide 47: Closing Remarks
06 Closing Remarks Parque Abadía Retail Park, Toledo
Slide 48: Two New Directors; Dividend: €30 Mn
48 AGM Two New Dividend: €30 Mn Directors €0.332 ps – May 31st, 2017 40 €0,332 ps 0.4 PIMCO’s representative 30 €30.0 Mn 0.3 Head of the European Commercial Real Estate team €0,201 ps 20 0.2 + 10 €0,033 ps 0.1 €12.0 Mn €1.3 Mn Independent Director 0 0 2014 2015 2016
Slide 49: Closing Remarks Investment Opportunity
49 Closing Remarks Positive assets evolution during 1st Quarter of 2017 Active Management is stabilizing assets and starting to see reversionary potential in Retail and Office portfolio Attractive portfolio of €1.4 Bn, out of which €1.23 Bn are rents generating assets that produce c.€72.1 Mn
Slide 50: Appendix - Assets
Appendix - Assets Anec Blau Shopping Centre, Barcelona
Slide 51: Megapark, Bilbao
51 RETAIL COMPLEX Megapark, Bilbao Location Acquisition Price Bilbao EUR 170.0 Mn GLA Market Value (Dec 2016) 63,576 Sqm EUR 190.0 Mn Purchase Date EPRA NIY 19 October 2015 5.2% WAULT Occupancy Rate1 2.5 years 94.2% 1. Based in EPRA standards
Slide 52: 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 (Dec 2016) 41,436 Sqm EUR 144.5 Mn Purchase Date EPRA NIY 15 September 2016 6.1% WAULT Occupancy Rate1 3.0 95.6% 1. Based in EPRA standards
Slide 53: El Rosal, León
53 SHOPPING CENTRE El Rosal, León Location Acquisition Price Ponferrada, León EUR 87.5 Mn GLA Market Value (Dec 2016) 51,022 Sqm EUR 99.8 Mn Purchase Date EPRA NIY 7 July 2015 5.9% WAULT Occupancy Rate1 2.7 years 88.6% 1. Based in EPRA standards
Slide 54: Portal de la Marina, Alicante
54 SHOPPING CENTRE Portal de la Marina, Alicante Location Acquisition Price Ondara, Alicante EUR 89.2 Mn GLA Market Value (Dec 2016) 40,066 Sqm EUR 107.1 Mn Purchase Date EPRA NIY 30 Oct ’14/ 9 Jun ’15/ 30 Mar ‘16 6.4% WAULT Occupancy Rate1 1.7 years 93.8% 1. Weighted average price of acquisitions 1
Slide 55: Anec Blau, Barcelona
55 SHOPPING CENTRE Anec Blau, Barcelona Location Acquisition Price Barcelona EUR 80.0 Mn GLA Market Value (Dec 2016) 28,598 Sqm EUR 93.3 Mn Purchase Date EPRA NIY 31 July 2014 5.3% WAULT Occupancy Rate1 2.8 years 93.2% 1. Based in EPRA standards
Slide 56: As Termas, Lugo
56 SHOPPING CENTRE As Termas, Lugo Location Acquisition Price Lugo EUR 68.8 Mn GLA Market Value (Dec 2016) 35,127 Sqm EUR 80.0 Mn Purchase Date EPRA NIY 15 Apr ‘15/ 28 Jul ‘15 6.5% WAULT Occupancy Rate1 1.7 years 95.7% 1. Based in EPRA standards
Slide 57: Parque Abadía, Toledo
57 RETAIL PARK Parque Abadía, Toledo Location Acquisition Price Toledo EUR 63.1 Mn GLA Market Value (Acq price) 37,114 Sqm EUR 63.1 Mn Purchase Date NIY 27 March 2017 6.2% WAULT Occupancy Rate1 3.3 100% 1. Based in EPRA standards
Slide 58: 22 Retail Units
58 22 RETAIL UNITS North of Spain + Balearic Islands Location Acquisition Price North of Spain + Balearic Is. EUR 47.6 Mn GLA Market Value (Acq price) 28,822 Sqm EUR 47.6 Mn Purchase Date NIY 27 March 2017 7.3% WAULT Occupancy Rate 14.0 100%
Slide 59: Vistahermosa, Alicante
59 RETAIL PARK Vistahermosa, Alicante Location Acquisition Price Alicante EUR 42.5 Mn GLA Market Value (Dec 2016) 33,550 Sqm EUR 45.6 Mn Purchase Date EPRA NIY 16 June 2016 5.9% WAULT Occupancy Rate1 6.2 years 96.6% 1. Based in EPRA standards
Slide 60: Palmas Altas, Seville
60 SHOPPING CENTRE Palmas Altas, Seville Location Acquisition Price Seville EUR 40.5 Mn Retail and family leisure space Market Value (Dec 2016) 100,000 Sqm EUR 46.0 Mn Purchase Date Expected NIY 1 March 2016 > 8% Expected Opening Date Expected development costs Q1 2019 EUR 109.0 Mn
Slide 61: Albacenter, Albacete
61 SHOPPING CENTRE Albacenter, Albacete Location Acquisition Price Albacete EUR 39.9 Mn GLA Market Value (Dec 2016) 27,890 Sqm EUR 49.8 Mn Purchase Date EPRA NIY 30 Jul ’14/ 19 Dec ‘14 6.1% WAULT Occupancy Rate1 2.7 years 84.3% 1. Based in EPRA standards
Slide 62: Txingudi, Guipúzcoa
62 SHOPPING CENTRE Txingudi, Guipúzcoa Location Acquisition Price Irún, Guipúzcoa EUR 27.7 Mn GLA Market Value (Dec 2016) 10,127 Sqm EUR 35.5 Mn Purchase Date EPRA NIY 24 March 2014 6.2% WAULT Occupancy Rate1 2.7 years 95.8% 1. Txingudi Occupancy pro-forma is 97.5%. . Txingudi actual occupancy rate
Slide 63: Vidanova Parc, Valencia
63 RETAIL PARK Vidanova Parc, Valencia Location Acquisition Price Sagunto, Valencia EUR 14.0 Mn GLA Market Value (Dec 2016) 44.252 Sqm EUR 17.3 Mn Purchase Date Expected NIY 3 August 2014 > 9% Expected Opening Date Expected development costs Q1 2018 EUR 26.0 Mn
Slide 64: Las Huertas, Palencia
64 SHOPPING CENTRE Las Huertas, Palencia Location Acquisition Price Palencia EUR 11.7 Mn GLA Market Value (Dec 2016) 6,267 Sqm EUR 13.3 Mn Purchase Date EPRA NIY 24 March 2014 5.7% WAULT Occupancy Rate1 2.3 years 79.5% 1. Based in EPRA standards
Slide 65: Nuevo Alisal, Santander
65 RETAIL PARK Nuevo Alisal, Santander Location Acquisition Price Santander EUR 17.0 Mn GLA Market Value (Dec 2016) 7,649 Sqm EUR 18.3 Mn Purchase Date EPRA NIY 17 December 2014 6.4% WAULT Occupancy Rate1 5.6 years 100.0% 1. Based in EPRA standards
Slide 66: Villaverde, Madrid
66 RETAIL PARK Villaverde, Madrid Location Acquisition Price Madrid EUR 9.1 Mn GLA Market Value (Dec 2016) 4,391 Sqm EUR 10.8 Mn Purchase Date EPRA NIY 29 July 2014 6.2% WAULT Occupancy Rate1 2.8 years 100.0% 1. Based in EPRA standards
Slide 67: Galaria, Pamplona
67 RETAIL PARK Galaria, Pamplona Location Acquisition Price Pamplona EUR 8.4 Mn GLA Market Value (Dec 2016) 4,108 Sqm EUR 10.4 Mn Purchase Date EPRA NIY 23 July 2015 6.4% WAULT Occupancy Rate1 4.7 years 100.0% 1. Based in EPRA standards
Slide 68: Egeo, Madrid
68 OFFICES Egeo, Madrid Location Acquisition Price Madrid EUR 64.9 Mn GLA Market Value (Dec 2016) 18,254 Sqm EUR 73.9 Mn Purchase Date EPRA NIY 16 December 2014 2.3% WAULT Occupancy Rate1 4.2 years 89.0% 1. Based in EPRA standards
Slide 69: Marcelo Spínola, Madrid
69 OFFICES Marcelo Spínola, Madrid Location Acquisition Price Madrid EUR 19.0 Mn GLA Market Value (Dec 2016) 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 70: Arturo Soria, Madrid
70 OFFICES Arturo Soria, Madrid Location Acquisition Price Madrid EUR 24.2 Mn GLA Market Value (Dec 2016) 8,663 Sqm EUR 27.2 Mn Purchase Date EPRA NIY 29 July 2014 5.2% WAULT Occupancy Rate1 2.2 years 78.8% 1. Based in EPRA standards
Slide 71: Joan Miró, Barcelona
71 OFFICES Joan Miró, Barcelona Location Acquisition Price Barcelona EUR 19.7 Mn GLA Market Value (Dec 2016) 8,611 Sqm EUR 21.4 Mn Purchase Date EPRA NIY 11 June 2015 4.6% WAULT Occupancy Rate1 1.2 years 97.4% 1. Based in EPRA standards
Slide 72: Eloy Gonzalo, Madrid
72 OFFICES Eloy Gonzalo, Madrid Location Acquisition Price Madrid EUR 12.7 Mn GLA Market Value (Dec 2016) 6,231 Sqm EUR 15.0 Mn Purchase Date EPRA NIY 23 December 2014 1.6% WAULT Occupancy Rate1 1.9 years 73.1% 1. Based in EPRA standards
Slide 73: Alovera II, Guadalajara
73 LOGISTICS Alovera II, Guadalajara Location Acquisition Price Guadalajara EUR 32.1 Mn GLA Market Value (Dec 2016) 83,952 Sqm EUR 37.5 Mn Purchase Date EPRA NIY 13 October 2014 7.1% WAULT Occupancy Rate1 0.5 years 100.0% 1. Based in EPRA standards
Slide 74: Alovera I, Guadalajara
74 LOGISTICS Alovera I, Guadalajara Location Acquisition Price Guadalajara EUR 12.7 Mn GLA Market Value (Dec 2016) 35,196 Sqm EUR 17.4 Mn Purchase Date EPRA NIY 7 October 2014 6.3% WAULT Occupancy Rate1 1.6 years 100.0% 1. Based in EPRA standards
Slide 75: Almussafes, Valencia
75 LOGISTICS Almussafes, Valencia Location Acquisition Price Valencia EUR 8.4 Mn GLA Market Value (Dec 2016) 19,211 Sqm EUR 9.5 Mn Purchase Date EPRA NIY 26 May 2015 7.3% WAULT Occupancy Rate1 2.7 years 100.0% 1. Based in EPRA standards
Slide 76: Alovera IV (C5-C6), Guadalajara
76 LOGISTICS Alovera IV (C5-C6), Guadalajara Location Acquisition Price Guadalajara EUR 7.2 Mn GLA Market Value (Dec 2016) 14,891 Sqm EUR 8.5 Mn Purchase Date EPRA NIY 26 May 2015 8.5% WAULT Occupancy Rate1 2.0 years 100.0% 1. Based in EPRA standards
Slide 77: Alovera III, Guadalajara
77 LOGISTICS Alovera III, Guadalajara Location Acquisition Price Guadalajara EUR 3.0 Mn GLA Market Value (Dec 2016) 8,591 Sqm EUR 3.6 Mn Purchase Date EPRA NIY 26 May 2015 7.2% WAULT Occupancy Rate1 0.8 years 100.0% 1. Based in EPRA standards
Slide 78: Cheste, Valencia
78 LOGISTICS Cheste, Valencia Location Acquisition Price Valencia €2.3 Mn cost of land + urbanization costs GLA Market Value (Dec 2016) 118,160 Sqm - Purchase Date EPRA NIY 1Q 2017 -
Slide 79: Lagasca 99, Madrid
79 RESIDENTIAL Lagasca 99, Madrid Location Acquisition Price1 Madrid EUR 50.1 Mn GLA Market Value (Dec 2016) 26,203 Sqm EUR 65.8 Mn Purchase Date Construction Period 30 January 2015 2016 - 2018 1. Corresponds to the 50% of the JV with PIMCO
Slide 80: Disclaimer
80 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 81: Contact us
Contact us Corporate www.larespana.com Presentation Lar España Real Estate SOCIMI
Lar España Real Estate SOCIMI — Investor Presentation (June 2017) on 6ix