: TSKB REAL ESTATE INVESTMENT TRUST. : Meclisi Mebusan Cad. Molla Bayırı Sk. No: Fındıklı İstanbul
|
|
- Griffin Bradford
- 5 years ago
- Views:
Transcription
1 1 1
2 Company Name : TSKB REAL ESTATE INVESTMENT TRUST Date of Establishment : Share Capital Listing Ticker Symbol Address : TL : Istanbul Stock Exchange : TSGYO : Meclisi Mebusan Cad. Molla Bayırı Sk. No: Fındıklı İstanbul Web-site : gyo@tskb.com.tr Phone : +90 (212) Fax : +90 (212) Disclaimer: This presentation must be read with the disclaimer in the Appendix 2 2
3 Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 3 3
4 Highlights Established in 2006 as a real estate investment and development company Developer of new projects, has demonstrated its ability to ensure profitable project development Asset size grew from TL12m (2006) to TL 341m (2011) Strong real estate portfolio with a commercial focus enabling reliable revenues derived from rental income Aims to achieve sustainable growth leasable area up from 3k sqm to 50k sqm in 5 years Income-sharing and joint-venture projects under evaluation TSKB REIT aims to be a leading player in the Turkish real estate sector 4 4
5 Vision & Mission VISION To be a reliable business partner with a pioneering role in its sector. MISSION To establish and maintain a growing and sustainable investment portfolio with high returns. 5 5
6 Shareholder Structure Experienced main shareholder, Turkey s oldest and largest investment and development bank TSKB, part of the Is Bank Group. Shareholder Stake (%) TSKB YF Securities 1.33 TSKB Employees Pension Fund 1.04 TSKB Real Estate Appraisal 0.30 Free Float on ISE* Total TSKB 59% Other 3% Free Float 38% * As of December 31, 2011, 7,763,100 of the listed shares were held by TSKB, thus, the total share of TSKB was 64.18% as of the date given. The Company is one of four subsidiaries established by TSKB in the real estate market, demonstrating the parent company s commitment to the sector: 1. TSKB Real Estate Investment Company 2. TSKB Real Estate Appraisal 3. TSKB Real Estate Consultancy Services 4. TSKB Real Estate Brokerage Services 6 6
7 Organization Management Board General Manager Executive Vice President Legal Consultant Tax Consultant Property Appraiser Investments Project Development Project Management Asset Management Finance and Investor Relations Investor Relations Compliance Finance Accounting and Administrative Affairs Accounting Budgeting and Planning Administrative Affairs 7 7
8 History TSKB REIT established in February. TSKB contributed the Tahir Han Building as capital in kind in March. TSKB acquired the construction permit for PSC in July. TSKB REIT laid the foundation for PSC in November. Paid in capital was increased to TL100m. Construction on the Adana hotel (Divan Hotel) project. PSC completed and opened to shoppers in December Land for Pendorya Shopping Center (PSC) purchased in July. Land for Adana hotel project purchased in 50% partnership in November. Paid in capital upped from TL10m to TL75m. TSKB REIT on the ISE in April. Paid in capital was increased to TL150m. Fındıklı Buildings added to the Company s portfolio in December. 8 8
9 Investment Strategy Industrial and Geographical Focus TSKB REIT's investment strategy is concentrated on commercial real estate due to the regular rent income and cash flow pattern which can be obtained from these kinds of assets. Business and shopping centers, tourism facilities, logistic warehouses and industrial plants are typical investment projects that the Company would like to add to its real estate portfolio. Residential investments can be another area of attraction as a part of a mixed use project or with respect to their potential profitability in stand-alone cases. The Goal of Growth by Project Development TSKB REIT adheres to an investment strategy which seeks to take a project from its initial conception and to develop it, to organize all project-essential activities in the developmental process, and to complete the project in such a way as to ensure its viability. By holding onto the investments which are added to its property portfolio on a long-term basis, the Company s aim is not only to achieve sustainable growth but also to take advantage of the likely appreciation in the properties value in the long run. Risk Calculation TSKB REIT engages in a painstaking planning process in order to minimize risk factors as much as possible by verifying a project s commercial viability before starting it, making sure that the financial resources required by the project will be available, and ensuring that the project is in compliance with existing laws and regulations. 9 9
10 Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 10 10
11 Portfolio Breakdown Breakdown of Real Estate Portfolio* As of ( TL ) Project Adana Hotel Project Office Buildings Fındıklı Buildings Tahirhan Building Shopping Center Pendorya Shopping Center Total Real Estate Value Participations - Marketable Securities Total Portfolio Value Pendorya Shopping Center 66% *Proportion of Total Portfolio Value. Breakdown of Total Portfolio Marketable Securities 5% Office Buildings 29% Project 5% Real Estate 95% 11 11
12 Real Estate Portfolio Summary Value (TL 000)* Pendorya Shopping Center 203,845 Fındıklı Office Buildings 83,030 Tahirhan Office Building 7,360 Adana Hotel Project 15,600 Total 309,835 * Valuations carried out by independent real estate appraisal companies 12 12
13 Pendorya Shopping Center 13 13
14 Pendorya Shopping Center (contd.) Location Pendik - Istanbul TSKB REIT Stake 95% Operational Date December 2009 Land Area (sqm) 23,100 Construction Area (sqm) 80,648 Leasable Area (sqm) 30,250 Occupancy (sqm) (December 2011) 93% Number of Stores 100 Anchor Tenants Tesco Kipa (8,400 sqm), MediaMarkt (5,500 sqm), AFM (2,500 sqm) Appraisal Value (TLm) % of Pendorya is held by TSKB REIT and 5% by the development consultant, the Ataman Group. The center features a 1,000-person capacity food court and 1,000 vehicle parking lot. Annual expected footfall is 6 million. Center management expect a 96% occupancy rate to be achieved by end Main Tenants Food 8% Cinema 8% Other 2% Hypermarket 27% Stores 37% Electronics 18% 14 14
15 Pendorya Shopping Center (contd.) The Pendorya site was selected after careful evaluation of the surrounding region to ensure appropriate demographics and growth dynamics as well as unsaturated market conditions and potential. Pendorya is located at the crossroads of two of Istanbul s main highways, and is 8 km distant from the Sabiha Gokcen (SG) International Airport. The Pendik area on the Asian side of Istanbul has a rapidly growing catchment population of Grade B income consumers. Ongoing boutique residential projects, a marina and other nearby tourism investments increase the attraction of Pendorya s location. The construction of a 3,000-person Garanti Bank Operations Center in the neighbouring plot has started. Also located in the vicinity, Turkey s largest state teaching and research hospital (540 beds) was opened at January Recent Developments in Pendik Region Pendik Development Pipeline Pendik State Teaching and Research Hospital Turkey s 3rd-largest marina First international fair facility on Asian side 15 15
16 Fındıklı Office Buildings Fındıklı Buildings 16 16
17 Fındıklı Office Buildings (contd.) Fındıklı Building I Location Istanbul TSKB REIT Stake 100% Land Area (sqm) 1,696 Leasable Area (sqm) 7,102 Number of Floors 7 Tenant TSKB Appraisal Value (TLm) TSKB REIT is the 100% owner of the building. The building of some 7,102 sqm of covered space was purchased from TSKB in Currently, it is rented by TSKB and serves as the headquarters of the bank. The building was renovated in September 2007, and no major maintenance outlays are expected in the near future. Close proximity to Bosphorus foreshore and mass transit options also have positive effect on site s exclusivity. Galata Port operations will likely increase the site s future appraisal value
18 Fındıklı Office Buildings (contd.) Fındıklı Building II Location Istanbul TSKB REIT Stake 100% Land Area (sqm) 2,503 Leasable Area (sqm) 10,542 Number of Floors 10 Tenants TSKB, TSKB Foundation, TSKB RE Appraisal Appraisal Value (TLm) TSKB REIT is the 100% owner of the property. The building has 10,542 sqm of enclosed area and was purchased from TSKB in Currently rented by TSKB and other TSKB Group companies. The building was renovated in September 2007, and no major maintenance outlays are expected in the near future. Close proximity to Bosphorus foreshore and mass transit options also have positive effect on site s exclusivity. Galata Port operations will likely increase the site s future appraisal value
19 Tahir Han Office Building 19 19
20 Tahir Han Office Building (contd.) Location Istanbul TSKB REIT Stake 74% Land Area (sqm) 606 Leasable Area (sqm) Number of Floors 8 Tenants Various Appraisal Value (TLm) 7.36 TSKB REIT owns 74% of the building. Tahirhan is a sevenstory building on 600 sqm plot and has a built up area of 3,200 sqm. Building has full sea views from the third story and up. Tahir Han is located on the border of a major redevelopment project. It is suitable for conversion to more lucrative activities. The appraisal value of this site could appreciate considerably. At present, the offices are rented out to various companies and individuals
21 Adana Hotel Project (Divan Hotel) 21 21
22 Adana Hotel Project (contd.) Location Adana-City Center TSKB REIT Stake 50% Acquisition Date November 2007 Appraisal Value Land (TLm) 15.6 Land Area (sqm) 3,608 Planned Project Construction Start Date Planned Construction Completion Date City Hotel 3Q2011 1Q2013 Estimated Operational Date 1H 2013 Planned Investment (EURm) TSKB REIT acquired a 50% share of a 3,608 sqm plot located in a central area of Adana. Adana is one of Turkey s main industrial cities, with additional business growth potential due to investments in the energy and petrochemical sectors. A city hotel project of 200 rooms is under development. The hotel is to be operational in the first half of Total investment including the cost of the land is estimated at EUR30m-34m
23 Adana Hotel Project (contd.) Project fills need for a comfortable city hotel... Despite significant commercial and industrial progress in the past few years, no new high standard hotel has opened in Adana, while the occupancy rate of the existing 5-star hotels has increased remarkably. Adana also lacks alternative places for social activities such as conferences, wedding ceremonies, social occasions and MICE (Meetings, Incentives, Conferencing, Exhibitions) tourism. The land for the city hotel was acquired in 2007 with the intent to open a city hotel in accordance with local demand. The land is located in Seyhan, a central district of Adana. The project is located some 2.5 km from the airport and 5.5 km from the bus terminal. An architectural project was prepared for the site, which is already zoned. Operating Agreement (15-year maturity) was signed between TSKB REIT and Palmira Turizm (Divan Group) Construction Licence has been acquired and construction works has been started
24 Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 24 24
25 Balance Sheet (TL 000) Current Assets 8,083 7,602 34,083 7,688 35,242 20,178 Cash and Banks 2,084 3,666 23,845 3,745 30,218 15,154 Financial Investments 5,979 3, ,450 1,888 Other Current Assets ,749 3,102 3,573 3,136 Non-Current Assets 3, , , , , ,386 Investment Property ,245 75, , , ,835 Fixed Assets 4 45,339 76, Other Non-Current Assets ,662 11,637 10,466 Total Assets 11, , , , , ,564 Short-term Liabilities 41 12,319 7,113 20,431 22,977 11,636 Bank Debts - 1,343 2,062 12,163 20,170 10,734 Trade Payables - 8, , Other 41 2,207 4,895 3,871 1, Long-term Liabilities - 29,143 70, ,788 93, ,832 Bank Debts - 29,139 70, ,700 93, ,685 Other Shareholders Equity 11,697 80, , , , ,096 Paid-in Capital 10,000 75, , , , ,000 Share Premium Reserves Retained Earnings - 1,666 5,681 8,634 63,980 70,188 Net Income (Loss) 1,697 4,026 3,063 55,346 6,208 (2,838) Total Liabilities and Shareholders Equity 11, , , , , ,
26 Income Statement (TL 000) Revenues ,048 4,723 14,381 14,734 Operating Costs (-) (375) (1,146) (3,149) (3,343) (12,230) (8,270) Net Operating Profit (350) (1,080) 2,899 1,380 2,151 6,464 Income from Other Operations 1, ,253 52,632 5,444 15,279 Expenses from Other Operations (-) (13 ) (177) (114) (41) (249) (70) Operating Profit 658 (471) 9,038 53,971 7,346 21,673 Financial Income 1,039 4, ,676 5,650 1,639 Financial Expenses (-) - - (6,778) (301) (6,787) (26,150) Profit Before Tax 1,697 4,026 3,063 55,346 6,208 (2,838) Tax Net Income 1,697 4,026 3,063 55,346 6,208 (2,838) 26 26
27 Key Parameters Total Assets Shareholders Equity TL m TL m Real Estate Portfolio Assets TL m
28 Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 28 28
29 TSGYO Stock Performance Performance Performance ISE 100 Index ,3% 15,7% ISE REIT Index ,2% 13,1% TSGYO 0,94 0,60 0,64-36,2% 6,7% Performance Performance TSGYO Market Cap (TL mn) ,2% 6,7% TSGYO Market Cap (USD mn) ,8% 15,5% 29 29
30 TSGYO Stock Performance TSGYO, ISE REIT Index and ISE 100 Index Performance 1,40 1,30 1,20 1,10 1,00 0,90 0,80 0,70 0,60 0,50 TSGYO ISE REIT Index ISE-100 Index 30 30
31 TSGYO Stock Performance TSGYO - Relative Performance to ISE REIT Index ,9% TSGYO ISE REIT Index 31 31
32 Net Asset Value TSGYO Net Asset Value (NAV) ( TL ) Land Adana Land Office Buildings Fındıklı Buildings Tahirhan Building Shopping Center Pendorya Shopping Center Total Real Estate Value Participations - Marketable Securities Total Portfolio Value Cash and Banks - Receivables Other Assets Payables NAV* Market Cap** Discount to NAV 56% * as of December 31, ** as of February 10,
33 Section I The Company Section II Real Estate Portfolio Section III Financial Data Section IV TSGYO Stock Performance Section V Appendix 33 33
34 Regulation Highlights Capital markets institution, under the supervision of the CMB Corporate tax exemption Allowed to invest in real estate, real estate projects, rights and capital market instruments backed by real estate, and money and capital market instruments >50% of the the portfolio to be invested in real estate Not allowed to carry out construction Properties to be valued by independent and CMB licensed appraisal companies Obligation to go public in 3 months after the establishment of the company 1/3 of the board of directors must be independent 34 34
35 REITs in Turkey Public REITS 1. Akfen 2. Akmerkez 3. Alarko 4. Atakule 5. Avrasya 6. Doğuş 7. EGS 8. Emlak 9. İdealist 10. İş 11. Kiler 12. Martı 13. Nurol 14. Özderici 15. Pera 16. Reysaş 17. Saf 18. Sinpaş 19. Torunlar 20. TSKB 21. Vakıf 22. Yeşil 23. Yapı Kredi Koray Non-public REITs 1. Albayrak 2. Bayraktar 3. Büyükhanlı 4. Halk 5. Kuyaş 6. Özak 7. Tuna 8. Servet 35 35
36 Disclaimer This presentation does contain forward-looking statements that reflect the Company management s current views with respect to certain future events based on the base-case assumptions. Although it is believed that the expectations reflected in these statements are reasonable, they may be affected by a variety of variables and changes in underlying assumptions that could cause actual results to differ materially. Neither TSKB REIT nor any of its directors, managers or employees nor any other person shall have any liability whatsoever for any loss arising from the use of this presentation
37 37 37
: TSKB REAL ESTATE INVESTMENT TRUST. : Meclisi Mebusan Cad. Mollabayırı Sk. No: Fındıklı İstanbul
1 1 Company Name : TSKB REAL ESTATE INVESTMENT TRUST Date of Establishment : 03.02.2006 Share Capital Listing Ticker Symbol Address : 150.000.000 TL : Borsa Istanbul : TSGYO : Meclisi Mebusan Cad. Mollabayırı
More informationINTERIM FINANCIAL STATEMENTS. for the period ended on March,
INTERIM FINANCIAL STATEMENTS for the period ended on March, 31 2015 INDEX 1. Key aspects 5 2. Consolidated profit & loss account 9 3. Consolidated balance sheet 11 4. EPRA metrics 14 5. Significant events
More informationGreat Elm Capital Group, Inc. An Introduction to the Fort Myers Transaction & GEC s Real Estate Strategy
Great Elm Capital Group, Inc. An Introduction to the Fort Myers Transaction & GEC s Real Estate Strategy March 6, 2018 2018 Great Elm Capital Group, Inc. Disclaimer Statements in this presentation that
More informationSponda Financial Results Q4 and FY February 2017
Sponda Financial Results Q4 and FY 2016 3 February 2017 1. 2. 3. 4. Highlights for the Period Kari Inkinen Portfolio Development Pia Arrhenius Financials Niklas Nylander Business Environment and Business
More information26 February 2013 FIRST HALF RESULTS PRESENTATION
26 February 2013 FIRST HALF RESULTS PRESENTATION Investment highlights Proven track record of consistent earnings growth and meeting targets Strategically located and diverse residential portfolio Urban
More informationTransit-Oriented Development Specialized Real Estate Services
COLLIERS INTERNATIONAL Transit-Oriented Development Specialized Real Estate Services Accelerating success. Colliers International transit-oriented development GROUP P. 1 2 transit-oriented development
More informationInvestor Presentation December 2017
Investor Presentation December 2017 Cautionary Statement This presentation includes statements concerning our expectations, beliefs, plans, objectives, goals, strategies, future events or performance and
More informationDefinitions. CPI is a lease in which base rent is adjusted based on changes in a consumer price index.
Annualized Rental Income is rental revenue under our leases on Operating Properties on a straight-line basis, which includes the effect of rent escalations and any tenant concessions, such as free rent,
More informationOpportunities and Hurdles for Investors in Light Industrial Properties
Opportunities and Hurdles for Investors in Light Industrial Properties Experiences from the German Market Tom de Witte CFRO Geneba Properties NV Sommerconferenz Darmstadt, 7 July 2016 15.07.16 Contents
More informationFY2012 RESULTS PRESENTATION
FY2012 RESULTS PRESENTATION 21 August 2012 INVESTMENT HIGHLIGHTS Proven track record of consistent earnings growth and meeting targets Strategically located and diverse residential portfolio Urban and
More informationSenior Housing Properties Trust Announces Fourth Quarter and Year End 2017 Results
Senior Housing Properties Trust NEWS RELEASE Senior Housing Properties Trust Announces Fourth Quarter and Year End 2017 Results 2/27/2018 NEWTON, Mass.--(BUSINESS WIRE)-- Senior Housing Properties Trust
More informationINVESTOR PRESENTATION. September 2011
INVESTOR PRESENTATION September 2011 Disclaimer This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire
More informationNEWS RELEASE For immediate release
NEWS RELEASE For immediate release Laura Clark 904 598 7831 LauraClark@RegencyCenters.com Regency Centers Reports Second Quarter 2018 Results JACKSONVILLE, FL. (August 2, 2018) Regency Centers Corporation
More informationFront Yard Residential Corporation Announces Transformative Acquisition and Reports Second Quarter 2018 Results
Front Yard Residential Corporation Announces Transformative Acquisition and Reports Second Quarter 2018 Results August 9, 2018 CHRISTIANSTED, U.S. Virgin Islands, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Front
More informationInterim Report, H1 2016/17. Illustration: Amerika Have, residential property Copenhagen, Denmark
Interim Report, H1 2016/17 Illustration: Amerika Have, residential property Copenhagen, Denmark Contents 1. The Group s results in H1 2016/17 Financial highlights and key ratios Segment results Handed-over
More informationStrong management team
Strong management team Stable & transparent REIT framework Solid operational performance Top quality shareholder base High quality property portfolio 1 A strong management team Unprecedented learning curve
More informationIAS Revenue. By:
IAS - 18 Revenue International Accounting Standard No 18 (IAS 18) Revenue In 1998, IAS 39, Financial Instruments: Recognition and Measurement, amended paragraph 11 of IAS 18, adding a cross-reference to
More informationAcquisition of Metropolitan Plaza 8 Huangsha Road Guangzhou April 2017
Acquisition of Metropolitan Plaza 8 Huangsha Road Guangzhou April 2017 Metropolitan Plaza 8 Huangsha Road Property Particulars Location 8 Huangsha Road, Liwan District, Guangzhou Opening 2012 No. of Floors
More informationFront Yard Residential Corporation Reports Third Quarter 2018 Results
Front Yard Residential Corporation Reports Third Quarter 2018 Results November 7, 2018 CHRISTIANSTED, U.S. Virgin Islands, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Front Yard Residential Corporation ( Front Yard
More informationCorporate Presentation 4 th Quarter 2018 Financial Results
Corporate Presentation 4 th Quarter 2018 Financial Results 17 January 2019 Important Notice This presentation is for information only and does not constitute an invitation or offer to acquire, purchase
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended
More informationNBG PANGAEA REIC April 2017
NBG PANGAEA REIC April 2017 Disclaimer This presentation has been prepared by NBG PANGAEA Real Estate Investment Company (former MIG Real Estate REIC or the Company) solely for information purposes and
More informationClipper Realty Inc. Announces Third Quarter 2018 Results Reports Record Revenues, Income From Operations and Adjusted Funds From Operations
Clipper Realty Inc. Announces Third Quarter 2018 Results Reports Record Revenues, Income From Operations and Adjusted Funds From Operations NEW YORK, November 1, 2018 /Business Wire/ -- Clipper Realty
More informationTrust Management (Suntec) Limited ACQUISITION OF AN INTEREST IN SOUTHGATE COMPLEX, MELBOURNE
Trust Management (Suntec) Limited Suntec Real Estate Investment Trust ( Suntec REIT ) Manager of ACQUISITION OF AN INTEREST IN SOUTHGATE COMPLEX, MELBOURNE 1. INTRODUCTION ARA Trust Management (Suntec)
More informationSECURITIES AND EXCHANGE COMMISSION. Washington, D.C FORM 8-K CURRENT REPORT
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported):
More informationEN Official Journal of the European Union L 320/373
29.11.2008 EN Official Journal of the European Union L 320/373 INTERNATIONAL FINANCIAL REPORTING STANDARD 3 Business combinations OBJECTIVE 1 The objective of this IFRS is to specify the financial reporting
More informationFY18 Financial Results 11 October 2018
FY18 Financial Results 11 October 2018 Disclaimer This presentation is for information only and does not constitute an invitation or offer to a c q u i r e, p u r c h a s e or s u b s c r i b e f o r u
More informationExhibition sectors. 1. Real estate investment 1.1 Investment management companies (open and closed-end funds)
Exhibition sectors Save the date EXPO REAL 2018 Date: Oct 8-10, 2018 EXPO REAL opens up to you the entire spectrum of the real estate industry in one place. Gather information about the entire life cycle
More informationNational Real Estate Company. Earnings Presentation Q1 FY2014
National Real Estate Company (Kuwait KSE: NRE) Earnings Presentation Q1 FY2014 May 28, 2014 1 Agenda 1. NREC Overview 3 2. Q1 FY2014 Summary 4 3. Financial Performance 5 4. Key Financial Ratios 7 5. Quarterly
More informationAchieved record annual revenues of $110.0 million for 2018, representing an increase of 5.8%
Clipper Realty Inc. Announces Fourth Quarter and Full-Year 2018 Results Reports Record Annual Revenues, Record Annual Income from Operations and Record Quarterly and Annual Adjusted Funds from Operations
More informationAIMS AMP CAPITAL INDUSTRIAL REIT MANAGEMENT LIMITED
AIMS AMP CAPITAL INDUSTRIAL REIT MANAGEMENT LIMITED As Manager of AIMS AMP Capital Industrial REIT One George Street, #23-03 Singapore 049145 (Constituted in the Republic of Singapore pursuant to a Trust
More informationAnalyst Presentation 12 February 2018
Analyst Presentation 12 February 2018 Disclaimer This presentation is not an offer or an invitation to sell or exchange securities, or a recommendation to subscribe, buy or sell ANF Immobilier securities.
More informationAGREE REALTY CORPORATION REPORTS OPERATING RESULTS FOR THE SECOND QUARTER 2015
FOR IMMEDIATE RELEASE CONTACT: Joey Agree Chief Executive Officer (248) 737-4190 AGREE REALTY CORPORATION REPORTS OPERATING RESULTS FOR THE SECOND QUARTER 2015 BLOOMFIELD HILLS, MI (July 27, 2015) - Agree
More informationMacquarie Mexican REIT
Macquarie Mexican REIT Fourth Quarter 2012 Results Presentation February 26, 2013 4Q12 Results Agenda 1. Overview Nick O Neil 2. Highlights & Portfolio Performance Jaime Lara 3. Financials Jaime Lara 2
More informationREIDIN REAL ESTATE INDICES: JUNE 2014 RESULTS JULY 16, 2014
REIDIN REAL ESTATE INDICES: JUNE 2014 RESULTS JULY 16, 2014 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDICES: JUNE 2014 RESULTS Issue: 67 INDEX SUMMARY The residential sales prices for existing homes increased
More informationViva Industrial Trust 1Q2018 Results Presentation. 15 May 2018
Viva Industrial Trust 1Q2018 Results Presentation 15 May 2018 1 Important Notice This presentation is for information purposes only and does not constitute or form part of an offer, invitation or solicitation
More informationREIDIN REAL ESTATE INDICES: JANUARY 2015 RESULTS FEBRUARY 16, 2015
REIDIN REAL ESTATE INDICES: JANUARY 2015 RESULTS FEBRUARY 16, 2015 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDICES: JANUARY 2015 RESULTS Issue: 74 INDEX SUMMARY The residential sales prices for existing
More informationREIDIN REAL ESTATE INDICES: DECEMBER 2014 RESULTS JANUARY 16, 2015
REIDIN REAL ESTATE INDICES: DECEMBER 2014 RESULTS JANUARY 16, 2015 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDICES: DECEMBER 2014 RESULTS Issue: 73 INDEX SUMMARY The residential sales prices for existing
More informationJanuary - September 2011 results
January - September 2011 results 14 November 2011 Highlights 9M 2011 RESULTS Commercial Property business continues showing a recurrent income giving the company stability and solidity, representing 95%
More informationResults of Operations
JINUSHI REIT JINUSHI Business Results of Operations for the Fiscal Year Ended March 31, 2017 June 6, 2017 Securities code: 3252 (TSE/NSE, First Sections) 1. FY3/17 Financial Highlights 2. JINUSHI REIT
More informationFAR EAST H-TRUST PROPOSES TO ACQUIRE OASIA HOTEL DOWNTOWN FOR S$210.0 MILLION
FAR EAST H-TRUST PROPOSES TO ACQUIRE OASIA HOTEL DOWNTOWN FOR S$210.0 MILLION Highlights: 314-room upscale hotel in the Tanjong Pagar area to be acquired pursuant to the right of first refusal from the
More informationSunway Berhad TP: RM3.27 (+10.6%) Acquires Industrial Land Parcels in Selangor
A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 C O M P A N Y U P D A T E Monday, 22 February 2016 FBMKLCI: 1,674.88 Sector:
More informationNSW Affordable Housing Guidelines. August 2012
August 2012 NSW AFFORDABLE HOUSING GUIDELINES TABLE OF CONTENTS 1.0 INTRODUCTION... 1 2.0 DEFINITION OF KEY TERMS... 1 3.0 APPLICATION OF GUIDELINES... 2 4.0 PRINCIPLES... 2 4.1 Relationships and partnerships...
More informationInvestors and Analyst
KITE HEADQUARTERS Indianapolis, IN PRESENTED TO: Investors and Analyst 11.2011 DISCLAIMER This presentation contains certain statements that are not historical fact and may constitute forwardlooking statements
More informationBroadstone Asset Management, LLC
Broadstone Asset Management, LLC 800 Clinton Square Rochester, NY 14604 Phone: 585-287-6500 www.broadstone.com Firm CRD#: 281847 Date: March 29, 2018 This brochure provides information about the qualifications
More informationCPN Retail Growth Leasehold REIT
CPN Retail Growth Leasehold REIT Investor Presentation Opportunity Day 28 February 2018 Importance Notice The information contained in this presentation is for information purposes only and does not constitute
More informationProject Economics: The Value of Leasing. Russell Banham, Savills
ICSC European Retail Property School Project Economics: The Value of Leasing Russell Banham, Savills (Investment, Development & Asset Management) Introduction Who I am Russell Banham Over 30 years of experience
More informationREIDIN REAL ESTATE INDICES: APRIL 2014 RESULTS MAY 16, 2014
REIDIN REAL ESTATE INDICES: APRIL 2014 RESULTS MAY 16, 2014 REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDICES: APRIL 2014 RESULTS Issue: 65 INDEX SUMMARY The residential sales prices for existing homes
More informationWelcome to Opportunity Day Financial Performance Result for the 6 months period ended Jun 30, 2018
Welcome to Opportunity Day Financial Performance Result for the 6 months period ended Jun 30, 2018 Creating Perfect Cities where Possibilities Happen Disclaimer This document was prepared by Amata Corporation
More informationNEWS RELEASE For immediate release
NEWS RELEASE For immediate release Laura Clark 904 598 7831 LauraClark@RegencyCenters.com Regency Centers Reports Third Quarter 2018 Results Company Increases 2018 Guidance JACKSONVILLE, FL. (October 25,
More informationQuarterly Review The Australian Residential Property Market and Economy
Quarterly Review The Australian Residential Property Released January 2018 Contents Introduction 3 Housing Market 4 Mortgage Lending 11 Housing Supply 17 Demographic Overview 20 Household Finances 22 National
More informationIFRS 16 Leases supplement
IFRS 16 Leases supplement Guide to annual financial statements IFRS December 2017 kpmg.com/ifrs Contents About this supplement 1 About IFRS 16 3 The Group s lease portfolio 6 Part I Modified retrospective
More informationTABLE OF CONTENTS 100. INTRODUCTION
TABLE OF CONTENTS 100. INTRODUCTION 101. REAL PROPERTY ASSOCIATION OF CANADA 102. THE ORIGINAL ACCOUNTING PRACTICES HANDBOOK 103. THE REALPAC IFRS HANDBOOK 103.1. PREPARATION 103.2. APPLICATION 103.3.
More informationCONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED FINANCIAL STATEMENTS Dundee Real Estate Investment Trust Consolidated Balance Sheets (unaudited) June 30, December 31, (in thousands of dollars) Note 2004 2003 Assets Rental properties 3,4
More informationAkiş REIT 2Q18 Performance Presentation August 2018
Akiş REIT 2Q18 Performance Presentation August 2018 1 Breaking News New Investment Project The project is located in the uprising Aldgate region (London) which is 20-25 min away from central London The
More informationEHLANZENI DISTRICT MUNICIPALITY ACCOUNTING POLICIES TO THE ANNUAL FINANCIAL STATEMENTS
EHLANZENI DISTRICT MUNICIPALITY ACCOUNTING POLICIES TO THE ANNUAL FINANCIAL STATEMENTS 1. OBJECT TO THE POLICY The aim of the policy is to set accounting standards in line with good international financial
More informationDAR AL ARKAN REAL ESTATE DEVELOPMENT COMPANY SAUDI JOINT STOCK COMPANY
DAR AL ARKAN REAL ESTATE DEVELOPMENT COMPANY INTERIM CONSOLIDATED FINANCIAL STATEMENTS AND AUDITORS LIMITED REVIEW REPORT FOR THE NINE-MONTH PERIOD ENDED 30 SEPTEMBER INTERIM CONSOLIDATED FINANCIAL STATEMENTS
More informationA-REIT ACQUIRES ASCENDAS Z-LINK FOR ATTRIBUTED VALUE OF RMB300 MILLION
(Constituted in the Republic of Singapore pursuant to trust deed dated 9 October 2002 (as amended)) A-REIT ACQUIRES ASCENDAS Z-LINK FOR ATTRIBUTED VALUE OF RMB300 MILLION 1. INTRODUCTION 1.1 The Acquisition
More informationReal Estate Accounting
Real Estate Accounting Course Instructions and Final Examination The CPE Store 819 Village Square Drive Tomball, TX 77375 1-800-910-2755 Real Estate Accounting Table of Contents Page Course Objectives...
More informationWest Bay - Dafna. Market Beats
West Bay - Dafna Market Beats March - 2018 Overview West Bay is the most affluent areas also known as the prime commercial business hub of Doha in the state of Qatar. Majority of the city s corporate activities
More informationFOR IMMEDIATE RELEASE
FOR IMMEDIATE RELEASE American Finance Trust Announces Second Quarter Operating Results New York, August 9, - American Finance Trust, Inc. (Nasdaq: AFIN) ( AFIN or the Company ), a real estate investment
More informationDREAM GLOBAL ANNOUNCES FOURTH QUARTER RESULTS, 24% ANNUAL NET ASSET VALUE GROWTH AND OVER 6% FOURTH QUARTER COMPARATIVE NOI GROWTH
DREAM GLOBAL ANNOUNCES FOURTH QUARTER RESULTS, 24% ANNUAL NET ASSET VALUE GROWTH AND OVER 6% FOURTH QUARTER COMPARATIVE NOI GROWTH TORONTO, FEBRUARY 20, 2019 DREAM GLOBAL REIT (TSX:DRG.UN, FRA:DRG) (or
More informationMC/18/78. Redevelopment of Oxford Place, Leeds. MC/18/78 Oxford Place, Leeds. Contact Name and Details
Redevelopment of Oxford Place, Leeds MC/18/78 Contact Name and Details Resolutions Background Context Mrs Louise C Wilkins, Conference Officer for Legal and Constitutional Practice wilkinsl@methodistchurch.org.uk
More informationOffice Market Snapshot Podgorica H1 2017
Economy The main macroeconomic indicators of Montenegro, having highlighted only four of them, show a diversified picture of the current trends of the Montenegrin economy. The consumer prices increased
More informationDream Global REIT 2018 Fourth Quarter 1
EPRA Metrics The annual EPRA BPR Awards aim to recognize and commend upon the efforts of property companies that have successfully adopted the EPRA BPR Guidelines. Based on the assessment performed by
More informationEDGEFRONT REALTY CORP. MANAGEMENT S DISCUSSION AND ANALYSIS For the three-month period ended March 31, 2013
EDGEFRONT REALTY CORP. MANAGEMENT S DISCUSSION AND ANALYSIS For the three-month period ended March 31, 2013 May 30, 2013 MANAGEMENT S DISCUSSION AND ANALYSIS The following management s discussion and analysis
More informationALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST. Financial Statements. For the Period Ended March 31, 2004
Financial Statements For the Period Ended March 31, 2004 BALANCE SHEET At March 31, 2004 INDEX Page Balance Sheet 1 Statement of Unitholders' Equity 2 Statement of Earnings 3 Statement of Cash Flows 4
More informationHousing as an Investment Greater Toronto Area
Housing as an Investment Greater Toronto Area Completed by: Will Dunning Inc. For: Trinity Diversified North America Limited February 2009 Housing as an Investment Greater Toronto Area Overview We are
More informationChapter 8 VALUATION OF AND INFORMATION ON PROPERTIES. Definitions
Chapter 8 VALUATION OF AND INFORMATION ON PROPERTIES Definitions 8.01 In this Chapter:- (1) carrying amount means, for an applicant, the amount at which an asset is recognised in the most recent audited
More informationCourse Number Course Title Course Description
Johns Hopkins Carey Business School Edward St. John Real Estate Program Master of Science in Real Estate and Course Descriptions AY 2015-2016 Course Number Course Title Course Description BU.120.601 (Carey
More informationIFRS - 3. Business Combinations. By:
IFRS - 3 Business Combinations Objective 1. The purpose of this IFRS is to specify to disclose financial information by an entity when carrying out a business combination. In particular, specifies that
More information.01 The objective of this Standard is to prescribe the accounting treatment for investment property and related disclosure requirements.
COMPARISON OF GRAP 16 WITH IAS 40 GRAP 16 IAS 40 DIFFERENCES Objective.01 The objective of this Standard is to prescribe the accounting treatment for investment property and related disclosure requirements.
More informationALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST. Financial Statements. Year Ended December 31, 2004
ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST Financial Statements Year Ended December 31, 2004 Auditors' Report To the Unitholders of Allied Properties Real Estate Investment Trust We have audited the
More informationExtra Space Storage Inc. Reports 2017 Fourth Quarter and Year-End Results
Extra Space Storage Inc. Reports 2017 Fourth Quarter and Year-End Results February 20, 2018 SALT LAKE CITY, Feb. 20, 2018 /PRNewswire/ -- Extra Space Storage Inc. (NYSE: EXR) (the "Company"), a leading
More informationARA-CWT Trust Management (Cache) Limited
ARA-CWT Trust Management (Cache) Limited Cache Logistics Trust Manager of PROPOSED ACQUISITION OF JINSHAN CHEMICAL WAREHOUSE 1. Introduction 1.1 The Acquisition The board of directors of ARA-CWT Trust
More informationQ Investor Presentation
Q1 2018 Investor Presentation 0 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking information and other forward-looking statements. Words such as continue, expected, forecast, grow,
More informationOUE Commercial REIT s Portfolio To Exceed S$3.0 Billion With Proposed Acquisition Of Indirect Interest In One Raffles Place
PRESS RELEASE For Immediate Release OUE Commercial REIT s Portfolio To Exceed S$3.0 Billion With Proposed Acquisition Of Indirect Interest In One Raffles Place 10 June 2015 OUE Commercial REIT Management
More informationH RESULTS 10 AUGUST 2018 TLG IMMOBILIEN AG H RESULTS
TLG IMMOBILIEN AG H1 2018 RESULTS DISCLAIMER This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG IMMOBILIEN ("Forward-Looking
More informationSuburb Profile Report. Paddington, 2021 NSW
Suburb Profile Report Paddington, 2021 NSW October 2018 About Sound Property Group Sound Property Group is a property investment and education company specialised in sourcing strategic real estate opportunities,
More informationINVESTMENT BROKERAGE ADVISORY DEVELOPMENT. Property News. Q Turkish Property Market Overview
Property News Q4 2017 Turkish Property Market Overview Property News Q4 2017 Turkish Property Market Overview Research Hüma Kartal Research Analyst +90 (212) 231 55 30 ext.120 kartalh@pamirsoyuer.com.tr
More informationReal estate development significant growth driver Company profile and business model High-quality Investment Portfolio
STRATEGY Over three decades of continual development, CA Immo has become distinctly competitive and secured an excellent market position in Central Europe. By letting, managing and developing high quality
More information(CONVENIENCE TRANSLATION OF THE REVIEW REPORT AND THE FINANCIAL STATEMENT ORIGINALLY ISSUED IN TURKISH) HALK GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş.
(CONVENIENCE TRANSLATION OF THE REVIEW REPORT AND THE FINANCIAL STATEMENT ORIGINALLY ISSUED IN TURKISH) HALK GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S LIMITED REVIEW
More informationOman Real Estate Conference th May 2015
Oman Real Estate Conference 2015 11 th May 2015 1 Contents 1. Global Real Estate Overview 2. MENA Real Estate Overview 3. Oman s Market Overview 4. Market 5. Market 6. Hospitality Market 7. Market Global
More information3Q FY18 Financial Results 10 July 2018
3Q FY18 Financial Results 10 July 2018 Disclaimer This presentation is for information only and does not constitute an invitation or offer to a c q u i r e, p u r c h a s e or s u b s c r i b e f o r u
More informationBAHRAIN DOMICILED REAL ESTATE INVESTMENT TRUSTS (B-REITs) MODULE
: BAHRAIN DOMICILED REAL ESTATE INVESTMENT TRUSTS (B-REITs) MODULE MODULE: BRT (Bahrain Domiciled Real Estate Investment Trusts) Table of Contents BRT-A BRT-B BRT-1 BRT-2 BRT-3 BRT-4 Date Last Changed
More informationCHOICE PROPERTIES REAL ESTATE INVESTMENT TRUST. Management s Discussion and Analysis of Financial Condition and Results of Operations
CHOICE PROPERTIES REAL ESTATE INVESTMENT TRUST Management s Discussion and Analysis of Financial Condition and Results of Operations (in thousands of Canadian dollars except where otherwise indicated)
More informationQ EPRA KEY METRICS
Q1 EPRA KEY METRICS EPRA KEY METRICS The European Public Real Estate Association (EPRA) is a not-for-profit association based in Brussels that represents the interests of both listed real estate companies
More informationBLUE VISION A/S COMPANY PRESENTATION. November 2017
BLUE VISION A/S COMPANY PRESENTATION November 2017 1 Introduction to Blue Vision A/S Blue Vision A/S is listed on Nasdaq Copenhagen. The only activity in Blue Vision A/S is ownership of 79.3 % of the Portuguese
More informationHighwoods Reports Second Quarter 2018 Results
FOR IMMEDIATE RELEASE Ref: 18-14 Contact: Brendan Maiorana Senior Vice President, Finance and Investor Relations 919-431-1529 Highwoods Reports Second Quarter 2018 Results $0.49 Net Income per Share $0.87
More informationQ Results presentation 23 Oct,
Q3 2012 Results presentation 23 Oct, 2012 http://www.alarkan.com 1 Market Leading Presence in the Middle Income Real Estate Domain Dar Al Arkan Overview Largest land & property developer in KSA, with about
More informationSummary of IFRS Exposure Draft Leases
The International Accounting Standards Board (IASB) recently issued a revised exposure draft (ED) relating to leases. Once these proposals are finalized the new guidance will replace the IAS 17 Leases.
More informationAPPENDIX A BABERGH AND MID SUFFOLK JOINT AFFORDABLE HOMES 3-YEAR ROLLING DEVELOPMENT STRATEGY COMMENCING 2017
APPENDIX A BABERGH AND MID SUFFOLK JOINT AFFORDABLE HOMES 3-YEAR ROLLING DEVELOPMENT STRATEGY COMMENCING 2017 BABERGH AND MID SUFFOLK JOINT AFFORDABLE HOMES 3 YEAR ROLLING DEVELOPMENT STRATEGY COMMENCING
More informationM A N N E S M A N N A.S / REAL ESTATE AND PROJECT APPRAISAL REPORT Bodrum/MUĞLA
M A N N E S M A N N A.S. 2018 / 2019 REAL ESTATE AND PROJECT APPRAISAL REPORT Bodrum/MUĞLA EXECUTIVE SUMMARY The property subject to appraisal and its use: The real estate of land type without any building
More informationNational Rental Affordability Scheme. Economic and Taxation Impact Study
National Rental Affordability Scheme Economic and Taxation Impact Study December 2013 This study was commissioned by NRAS Providers Ltd, a not-for-profit organisation representing NRAS Approved Participants
More informationIFRS 16 LEASES. Page 1 of 21
IFRS 16 LEASES OBJECTIVE The objective is to ensure that lessees and lessors provide relevant information in a manner that faithfully represents those transactions. This information gives a basis for users
More informationFOR IMMEDIATE RELEASE AUGUST 2, 2018 ARTIS REAL ESTATE INVESTMENT TRUST RELEASES SECOND QUARTER RESULTS
FOR IMMEDIATE RELEASE AUGUST 2, 2018 ARTIS REAL ESTATE INVESTMENT TRUST RELEASES SECOND QUARTER RESULTS Today Artis Real Estate Investment Trust ( Artis or the "REIT") issued its financial results and
More informationATRIUM Q RESULTS ANALYST AND INVESTOR CALL. 18 May 2016
ATRIUM Q1 2016 RESULTS ANALYST AND INVESTOR CALL 18 May 2016 KEY EVENTS IN 2016 YTD OPERATIONAL PERFORMANCE Core Markets¹: NRI increased 1.2% to 36.3m; LFL NRI remained stable at 31.4m Russia continues
More informationEstancia Logistik AB (publ) Quarterly Report. July - September 2015
Estancia Logistik AB (publ) Quarterly Report July - September 2015 QUARTERLY REPORT Q3 2015 Focus on Vacancies July - September 2015 Quarter Rental income amounted to MSEK 40 (40). Operating profit totaled
More informationSales Associate Course
Sales Associate Course Chapter Seventeen Real Estate Investments and Business Opportunity Brokerage 1 Investment Analysis Most important consideration: Economic soundness Land use controls Zoning Deed
More informationQ RESULTS 15 MAY 2018 TLG IMMOBILIEN AG Q RESULTS
TLG IMMOBILIEN AG Q 208 RESULTS DISCLAIMER This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG IMMOBILIEN ("Forward-Looking
More information