INVESTMENT OPPORTUNITY

Transcription

1 INVESTMENT OPPORTUNITY

2 INVESTMENT OVERVIEW OPPORTUNITY TO ACQUIRE A UNIQUE REAL ESTATE PORTFOLIO COMPOSED BY 8 ASSETS THROUGHOUT ITALY

3 Cushman & Wakefield LLP has been appointed by Prelios SGR S.p.A. («Prelios», «The SGR» or «The Vendor») as exclusive selling agent to coordinate the sale process of the buildings belonging to Tecla - Fondo Uffici - FIA Italiano Immobiliare di tipo Chiuso - managed by the SGR. A SIGNIFICANT VALUE ADD OPPORTUNITY PROVIDING THE FUNDAMENTALS FOR A WIDE RANGE OF UPSIDE STRATEGIES The portfolio is composed by 8 mainly income producing assets across Italy which generate a stable cash flow and provide investors the opportunity to increase returns by leasing vacant spaces. The assets are located in four well known regions: Lombardia, Piemonte, Lazio and Campania. Lombardia counts for 3 buildings, Corso Garibaldi 99 Milano, Via Alserio 10 Milano and Via delle industrie 11 Vimodrone (MI). Piemonte counts for buildings, Via Bertola 34 Torino and Via Jervis 9 - Ivrea (TO). Lazio counts for buildings, Via del Serafico 00 Roma and Via Chianesi 110 Roma. Campania counts for 1 building, Via dei Campi Flegrei 34 Pozzuoli (NA). TECLA PORTFOLIO ALLOWS FOR A PROACTIVE ASSET MANAGEMENT TO DRIVE AND ENHANCE RETURNS The Portfolio generates a total stabilized rental income of circa 13 Mln and total a gross lettable area of more than 14,000sqm. The vacancy rate of the entire portfolio is 5% circa, spread among the portfolio. Two assets: Via Chianesi 110 Roma and Via Alserio 10 - Milano, are 100% vacant, creating a value add angle that enhances the total value of the portfolio with a medium term view. C&W, in agreement with the Vendor, has selected a number of Italian and International investors, to be invited to participate in the investment procedure. PORTFOLIO DEAL STRUCTURE The Vendor, one of the leading Italian asset managers, will sell the assets of the Fund as entire Portfolio through an asset deal.

4 TYPE CITY IDENTIFICATION UNIT AREA (sqm) VACANCY RATE P0RTFOLIO DETAILS Tecla Portfolio consists of 8 properties located across different locations in Italy. The locations refer to: Lombardia: Milano and Vimodrone (MI) Piemonte: Torino and Ivrea (TO) Lazio: Roma Campania: Pozzuoli (NA) The total GLA is equal to approximately 14,000 sqm. The total passing rent is equal to 1 Mln circa and the stabilized rent will be equal to 13 Mln circa. Office Roma Via del Serafico ,700 0% Office Pozzuoli (NA) Via dei Campi Flegrei ,000 15% Office Torino Via Bertola ,00 15% Office Iv rea (TO) Via Jerv is ,000 15% Office Vimodrone (MI) Via delle Industrie ,000 90% Other Milano Corso Garibaldi ,300 0% Office Milano Via Alserio , % Office Roma Via Chianesi , % TOTAL 14,000

5 WALT: 4,4 YEARS CIRCA * 6,00 5,00 4,00 3,00,00 1,00 0,00 YEARS AVERAGE *Data may be subject to changes

6 PORTFOLIO SIZE: SQM CIRCA 16% 3% Roma sqm circa - approximately 3% of the portfolio Milano sqm circa - approximately 7% of the portfolio 43% 11% 7% Torino sqm circa - approximately 11% of the portfolio Pozzuoli (NA) sqm circa - approximately 43% of the portfolio Others sqm circa - approximately 16% of the portfolio

7 STABILIZED RENT: 13 MLN CIRCA* 6% Roma - approximately 4% of the portfolio 37% 4% Milano - approximately % of the portfolio Torino - approximately 13% of the portfolio Pozzuoli - approximately 37% of the portfolio 13% % Others - approximately 6% of the portfolio *Data may be subject to changes

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9 Via del Serafico 00 Roma Location: Eur - Serafico GLA: 9,700 smq circa Vacancy Rate: 0% circa Via dei Campi Flegrei 34 Pozzuoli (NA) Location: Pozzuoli GLA: 61,000 sqm circa Vacancy Rate: 10% circa Via Bertola 34 Torino Location: City Centre GLA: 15,00 circa Vacancy Rate: 15% circa Via Jervis 9 Ivrea (TO) Location: Secondary Market GLA: 11,000 sqm circa Vacancy Rate: 15% circa Via delle Industrie 11 Vimodrone (MI) Location: Secondary Market GLA: 11,000 sqm circa Vacancy Rate: 90% circa Corso Garibaldi 99 Milano Location: City Centre - Brera GLA: 1,300 sqm circa Vacancy Rate: 0% Via Alserio 10 Milano Location: Isola GLA: 9,300 sqm circa Vacancy Rate: 100% Via Chianesi 110 Roma Location: Eur -Torrino GLA: 3,400 sqm circa Vacancy Rate: 100%

10 Via del Serafico 00 Roma Income producing office building with a value add opportunity, located in the Greater Eur area, one of Rome s most dynamic business districts. The property comprises about 9,700 sqm of gross area and is 80% circa let on multitenant basis. INVESTMENT TYPE INTENDED USE LOCATION GROSS COVERED AREA PARKING SPACES VACANCY RATE Multitenant Building Office building Via del Serafico 00, Roma 9,700 sqm circa 444/155 (car/moto) 0% circa Location The property is located in the east part of Eur Core, within the GRA, the so called Tintoretto Eur. The area has an excellent accessibility due to its proximity to the GRA. The connection with public transport network is ensured through the metro B, Laurentina stop and with numerous bus routes serving the area. The neighborhood includes a quality functional mix with numerous high profile office buildings and prestigious residential constructions. Recently renewed building with technical upgrade The building, whose original structure dates back to the early 70s, has undergone in recent years a total internal reorganization and the complete facade renovation now in glass curtain walls. The three wings that form the building have completely renewed plant systems. The property has external parking spaces and a two floors garage.

11 Via dei Campi Flegrei 34 Pozzuoli This investment opportunity is a unique chance to acquire an historical business park in a privileged position on the Naples gulf. The complex consists of approximately 0 buildings mainly intended for office use. The compound is almost fully let with a residual vacancy rate higher than 10%. INVESTMENT TYPE INTENDED USE LOCATION GROSS COVERED AREA PARKING SPACES VACANCY RATE Multitenant BUSINESS Park Office Main Use Via Campi Flegrei 34, Pozzuoli 61,000 sqm circa 0 15% circa Location The complex benefits from its proximity to the airport of Napoli, the harbor and the main motorways which easly connects it to Roma and Milano. The building was built in 1954 with the aim of becoming one of the Olivetti decentralized production factories in Italy. The site is located along Via Domiziana, 15 kilometers from Napoli, in a beautiful location overlooking the Gulf, covering a total area of more than 60,000 sqm. The volumes of the factory were designed following the natural slopes and blending the constructions with the landscape.

12 Via Bertola 34 Torino Income producing office building located in the historic centre of one of the most dynamic cities in Italy, Torino. The property comprises approximately 15,00 sqm of gross covered area and about 65 covered plus 0 uncovered parking spaces. The building is almost fully let, with a residual vacancy rate higher than 10%. INVESTMENT TYPE INTENDED USE LOCATION GROSS COVERED AREA PARKING SPACES VACANCY RATE Multitenant Building Office building Via Bertola 34, Torino 15,00 sqm circa 65 covered 0 uncovered 15% circa Location The building is situated in the historic centre of Turin, roughly 500m from Piazza San Carlo, in a mixed use area which includes residential, administrative and commercial properties. The building benefits to its proximity to Porta Susa and Porta Nuova railway stations, which ensure an easy access to it.

13 Via Jervis 9 Ivrea (TO) Income producing office building located in Ivrea, just 5 kilometers far from Torino. The property comprises approximately 11,000 sqm of gross covered. The building is almost fully let, with a residual vacancy rate slightly lower than 15 %. INVESTMENT TYPE INTENDED USE LOCATION GROSS COVERED AREA PARKING SPACES VACANCY RATE Multitenant Building Office building Via Jervis, 9 (IVREA) 11,000 sqm circa 0 15 % circa Location Ivrea is located approximately 40Km north of Torino and has a population of circa 5,000 people. The city is well connected to the A5 (Ginevra Torino), only 6 km far from the city centre.

14 Via delle Industrie 11 Vimodrone (MI) Partially let office building in the eastern periphery of Milano, in Vimodrone district. The property comprises aprpoximately of 11,000 sqm of gross covered area and 98 parking spaces. The building has a vacancy rate of 90% circa. INVESTMENT TYPE INTENDED USE LOCATION GROSS COVERED AREA PARKING SPACES VACANCY RATE Multitenant Building Office building Via delle Industrie 11, Vimodrone 11,000 sqm circa 98 90% circa Location The building benefit from its proximity to Milano. Thanks to a good road connection to the centre, Vimodrone can be considered as part of Milano itself even though it is managed by its own Municipality.

15 Corso Garibaldi 99 Milano Income producing retail asset located in the Business District area of Milano. The property comprises approximately 1,300 sqm of gross area and is part of a condominium. The units on sale relate to the ground floor, part of the retail gallery, and basement spaces. INVESTMENT TYPE INTENDED USE LOCATION GROSS COVERED AREA PARKING SPACES VACANCY RATE Multitenant Building Office building Corso Garibaldi,99 Milano 1,300 sqm circa 0 0% Location Garibaldi 99, a majestic building in one of Milan s most elegant districts, in the heart of the historical city centre, between Brera and Corso Como. The building is part of a continually evolving context, next to what will become the city s cultural hub and which will include a big-impact scenario. The property is an easily accessible area thanks to four underground lines, two railway stations and a close knit network of surface public transport.

16 Via Alserio 10 Milano The property, which is primarily office space with a small residential portion, comprises seven floors above ground, two underground floors and a lower ground floor. In its current state, the building offers approximately 6,500 sqm. of office space and about,000 sqm. used for storerooms and other services. The two underground floors are primarily taken up by parking spaces, with some areas occupied by the building services. INVESTMENT TYPE INTENDED USE LOCATION GROSS COVERED AREA PARKING SPACES VACANCY RATE Vacant building Office building Via Alserio, 10 Milano 9,300 sqm circa % Location In recent years, the district s visibility has also been boosted by important regeneration projects in the neighboring Garibaldi-Repubblica and Corso Como districts, many of which were designed by internationally renowned architects. Preliminary development hypotheses The building, which is used as office space today, can be revamped maintaining its current use, or converted into a residential building or hotel. The owners have prepared a feasibility study and architectural proposals for conversion into the latter two uses. The current territorial utilization index is 1.36 sqm/sqm.

17 Via Chianesi 110 Roma The property comprises approximately 3,400 sqm of gross covered area. The building is completely vacant and has a very good potential to enhance its value either by maintaining the current use or transforming it in residential use. INVESTMENT TYPE INTENDED USE LOCATION GROSS COVERED AREA PARKING SPACES VACANCY RATE Vacant Office building Via Chianesi 110 3,400 sqm circa 0 100% Location The building is located near the Ring Road (GRA) in the South of Roma. The location, called Torrino, is a very well known residential area due to the proximity to the major connections to the city centre and just outside the city ring. Bus lines easily connect the neighborhood with the first Metro stop, km away (Line B Eur Fermi stop).

18 Carlo Vanini Sara Pesino Maila Di Simone