REDEFINING ASSET MANAGEMENT

Transcription

1 REDEFINING ASSET MANAGEMENT

2 Verdion is a leading force in European Logistics property. whatever your vision for perfect Asset Management WE CAN MAKE IT HAPPEN As a recognised market specialist, we invest, acquire, asset manage and develop logistics property in all major European countries. Industry savvy, creative and attuned to the commercial needs of both occupiers and investors, Verdion have redefined Asset Management, designing a unique service that meets the specific requirements of this sought after asset class. Verdion s team of logistics professionals are specialist technicians who work solely in this market sector. Our mission is industry leading levels of value and to achieve the very best investment returns for every client. We truly understand how logistics property works.

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4 Arvato, HanNover, Germany 7,824 photovoltaic solar cells on its 42,000 sq.m roof Across Europe vision of Verdion UNITAX, BERLIN, GERMANY This Pharmaceutical Specialist Unit was completed in just 10 months and occupiers 16,000 SQM

5 Dachser, Air Link Park, Berlin, Germany WITH 25,000 staff AND TURNOVER OF 5BN, GETTING THE DETAIL RIGHT WAS ESSENTIAL SIEMENS, CHEMNITZ, GERMANY The electronic infrastructure is both complex and vast with 240KM of different cables NAGEL GROUP, LEIPZIG, GERMANY 100% temperature controlled Verdion Air Park, Berlin, GERMANY Strategic Land for 90,000 SQM Logistics, Berlin Brandenburg Airport, Value 665M DHL, Copenhagen, Denmark 15,000 sqm pharmaceutical excellence high grade specification, temperature controlled iport, DONCASTER, England 500 ACRES OF inspiring VISION 6M sq.ft. Grade A warehousing 35 ACRE RAIL CARGO FACILITY 5000 NEW JOBS 300 M INVESTMENT

6 real COMMERCIAL ADVANTAGE THE BUSINESS SPECIALIST Verdion is focused exclusively on European logistics and industrial property. Our extensive contacts run across all sectors from e-tailing, retailing, manufacturing, pharmaceuticals and all major third party logistics providers. Our advanced knowledge on occupier demand and real estate strategies gives us real commercial advantage. Verdion is well placed to retain tenancies, adding value through building extensions, refurbishment and creating new Built-to-Suit development opportunities. We take a true Pan-European perspective, understanding the globalised nature of the supply chain and the physical, political and commercial trends that continue to drive change in logistics property. This understanding, matched with high level relationships with the major 3PLs, ensures an intelligent approach to all investment and management within the sector.

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8 Verdion s acquisition and DUE DILIGENCE PROCESS Create and agree a tailored acquisition and active management strategy Identify suitable investment opportunities through Verdion s European network Analyse and model opportunities identify income and value enhancement angles Negotiate best price and acquisition terms Coordinate thorough due diligence and report findings Present at investment committee seek approval to proceed End negotiate acquisition contracts Complete Purchase move to active management phase Implement cost saving and income enhancement initiatives Implement development and redevelopment programmes Hold or sell asset Redundant building. To be demolished, redeveloped and re-leased as modern warehouse facilities. Current land book value 3m, redevelopment costs 20m, new income 1.78m pa, new building value 25m, profit 5m, profit on cost 25%, IRR 15%. Park development land. Site to be marketed for new build to suit (BTS) warehouse facilities. Land Plot 100ha, developable area 60,000 sqm, rent 3.50/sqm pm, yield 7%, development costs 31.5m, profit 6.8m, POC 22%, IRR 13% (24 month development and leasing period). Vacant units. Active marketing strategy to be pursued directly and with letting agents. Void losses to be minimised as quickly as possible. Vacant site. Identified for park amenities including restaurant. To be delivered and let within 18 months. Building reinstatement dispute ongoing. Lawyers instructed to promptly deal with the issue. Building identified for complete refurbishment and re-letting at uplifted rent. Cost of void and redevelopment 300k, rental uplift +20%, valuation uplift 20%, extra value realised 480k, profit 180k. Tenant in arrears. Legal action taken and deposit forfeited. Letting agents prepared if tenant is evicted. Cosmetic refurbishment underway. While tenant in occupation and with their complete agreement. Purpose - to preserve the condition, usability and value of unit. Lease extended for a further 5 years with a 10% increase in rent creating a value gain of 20%. Tenant expansion: tenant with a growing business moved into a larger vacant unit and their existing one relet to new client. New build development. Remediation of snagging ongoing. Tenants in occupation and paying rent. Land earmarked for residential conversion. Roof identified for placement of photovoltaic cells. Payback time estimated to be 10 years. Long term redevelopment potential identified but unit currently yielding good income. Entire park refinanced. To capitalise on historically low interest rates and significant improvements in market value and LTV terms. Equity release to be allocated to park development projects. Note the statements made above are hypothetical only and do not relate in any way to the property which is photographed.

9 Process in Action You cannot create value without robust attention to process and to risk control

10 ALWAYS LOOK FOR THE NEW our deal pipeline: A CONSTANT FLOW OF NEW OPPORTUNITIES At Verdion we avoid the generic, the herd mentality. We re constantly looking for new ways of doing things. We uncover value through creativity. Verdion has an extensive network of broker, owner and investor contacts in the logistics industry throughout Europe. Because we re market sector specialists, we secure and maintain a constant pipeline of off market and pre-market logistics investment opportunities, both individual properties and substantial investment portfolios, on a Europe-wide basis. We also control and have access to a significant land bank - enabling us to service a regular flow of Built-to-Suit investment opportunities from our occupier clients.

11 DEAL OPPORTUNITIES Major Portfolio acquisitions Principally Northern, Central and Nordic European markets Built-to-Suit Opportunities: We maintain longstanding direct occupier contacts, including VW, DHL, Bertelsmann Group, Nagel Group, Dachser, Siemens, Unitax, Parexel and many others Refurbishment & Redevelopment Opportunities Strategic Land: Key locations backed with occupier Built-to-Suit requirements Occupier Partnerships strategic package agreements to fulfil Real Estate requirements through acquisition, development and refurbishment in multiple European locations

12 IT S ALL IN THE DETAILS tech WITH MORE LOGIC At Verdion, we put technology first. Our team are anything but desk-bound managers. We are engineers and specialists that have designed, built and long-term managed some of the most advanced logistics and industrial properties in Europe. When we analyse a client s asset, we look beyond the obvious. We interrogate every last detail of a building s specification and quality. We set maintenance and repair programmes that ensure long term investment returns, maximise net income and develop incisive, lateral and smart ways to take property forward. Only by truly understanding the tech behind property from chilled and frozen to pharma clean rooms can we measure value, and ultimately be in the position to add more value for our clients.

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14 Michael J Hughes CEO Peter Peeters CTO Stephan Dalbeck Portfolio Asset Management - Chief Operating Officer Paul Clarke Finance Director our people OUR BEST ASSET Michael founded Verdion, formerly Helios Europe, in January 2010 following 14 years as director and co-owner of Helios Properties plc. He has over 20 years experience in the development and asset management of industrial and logistics property on a European wide basis. An acknowledged expert in this sector, he regularly speaks at industry events and is acting Chairman of the Rail freight Interchange Investment Group. Peter leads the Company s technical processes, overseeing the construction pipeline, setting performance and specification criteria, planned building maintenance systems and leading the technical evaluation of potential asset acquisitions. His detailed insight into quality and performance issues specific to the logistics sector ensures a thorough technical evaluation of all assets under management and the retention and creative enhancement of portfolio value. His career in the logistics sector spans well over 20 years, including the development of over 6 million sqm of logistics property throughout continental Europe. Stephan is Chief Operating Officer for the asset management function of Verdion s growing portfolio of properties and land producing assets. He has over 28 years experience working within the European logistics property sector, having held senior positions with companies such as Eurinpro (now Goodman) and ProLogis. Over that time Stephan has personally overseen the development and management of over 4.3 million sq ft (400,000 sq m) of logistics space across Europe. Paul oversees all financial processes related to managing and monitoring the performance of assets under management, including all related ownership structures and tax planning. Paul has extensive experience of the European real estate market and joined Verdion from a UK based private property group with UK wide commercial property interests. Paul holds a first class honours degree in Mathematics and qualified as a Chartered Accountant with PricewaterhouseCoopers (PWC) before joining listed retailer Brown & Jackson plc as Group Accountant. Here he became Financial Director of the group s property division and retail operation in Poland.

15 Asset Management as an industry is driven by numbers, and everything is inherently time-critical. It s very easy to forget the human dimension to our industry. Andre Banschus Country Manager Germany André manages Verdion s operation in Germany and has over 14 years experience working within the European logistics property sector. A qualified engineer with high level technical and commercial experience, he has personally overseen the appraisal, development and management of over18 million sq ft (1.67 million sq m) of logistics property assets across the continent. He has held senior positions with leading firms throughout Europe including Prologis, Eurinpro (now Goodman), Goldbeck and Parkridge and has a wealth of experience working in Northern, Central and Eastern Europe, principally Germany, Sweden and the Czech Republic. John Clements European Development Director John leads in the sourcing, structuring and appraising of new investment opportunities throughout Europe. John is responsible for the continual commercial appraisal of every asset under management, maintaining real time market knowledge on latest trends and values, anticipating market change and recommending appropriate investment strategies to maximise returns. Prior to joining Verdion, John was a Senior Associate at King Sturge Corporate Finance, managing and investing institutional investment funds targeting continental Europe. John holds a MSc from Reading University and is a member of the RICS and the Chartered Institute for Securities and Investment. Marc Haverkamp Technical Director Germany Marc is responsible for managing technical and construction processes for assets under management and the technical appraisal of potential new investment opportunities. A qualified engineer, Marc has over 15 years experience working primarily in the logistics property sector, with project management, construction management and FM responsibilities for national and international companies. He has held senior positions in large general contracting companies, architect/ general planning consultancies and was most recently a senior project manager within the real estate department function of REWE Group. Adrian de Morgan Non-Executive Director Adrian de Morgan is a non-executive director of Verdion and has over 35 years experience in property investment, development and funding. Adrian is Chief Executive of de Morgan & Company, established in 1976 to provide a focused and innovative approach to the acquisition, disposal and financing of property transactions to a broad range of both national and international institutions, property companies, syndicates and high net worth individuals. With offices in London and Oslo, Norway, the company is renowned for its pioneering skills with a reputation for originality in the identification and implementation of financial solutions. Roger Mann Non-Executive Director Roger has over 40 years property experience in the industrial and logistics sectors predominately supporting the operating occupier. For much of the time working for National Freight Consortium/Exel plc through privatisation, flotation and eventual acquisition by Deutsche Post in 2006, Roger s international roles have included Global Director of Property for NFC/Exel and MD Hyperion Properties plc. He is a Director of King s Cross Central General Partner Ltd who are developing 67 acres of mixed use space in central London. From the outset, we ve set out to make Verdion a people business. When we add a new member to the team, we look for people with an empathetic style who are prepared to listen to our clients and have a real understanding of the challenges that affect their business on a daily basis. So while we strive to be Asset Management experts in European logistics property, the approach of our detail-orientated team is always counterpointed by a human touch. Here you will meet some of the leading lights in the Verdion management team. Between us we have over 150 years combined experience. We can apply all this experience to your unique challenges and business opportunities.

16 Contact Verdion at: REDEFINING ASSET MANAGEMENT London United Kingdom T Düsseldorf Germany T verdion.com