ACCOLADE INDUSTRIAL FUND PRESENTATION We invest in smart Industrial Parks for a sustainable future August 2020
CONTENT Why to invest in Industrial Real Estate Our Parks Accolade Industrial Fund Investments with Accolade Upcoming Projects Key Personnel
OUR TENANTS LOGISTICS PRODUCTION RETAIL & E-COMMERCE
WHY TO INVEST IN INDUSTRIAL REAL ESTATE? INDUSTRIAL PROPERTY PRIME YIELDS IN CZ, PL, DE (BY YEAR) PROPERTY YIELDS 9 CZ 8 7 6 5 4 Industrial Shopping Offjces Residental 3 property malls 2 1 PL 0 07 08 09 10 11 12 13 14 15 16 17 18 19 20 year Czech Republic Germany Poland ka o o • industrial properties are one of the most profjtable real estate investment Industrial Shopping Offjces Residental • long-term lease agreements property malls • higher solvency of tenants DE • rents are stable or growing in the long term Source: CBRE Industrial Shopping Offjces Residental property malls 4
INDUSTRIAL PROPERTIES MARKET CZECH REPUBLIC VACANCY Q2 2020 INDUSTRIAL BUILDINGS: • total stock of modern A-class warehouse and industrial properties is 8.82 million sq m. 4.58% • net efgective rent ranges between EUR 3.50–4.50 per sq m per month. • average lease transaction size is 6,900 sq m. NEW PROPERTIES New supply of industrial properties in the Czech Republic (thousands of sq m) OFFICES: 6.10% 430 Source: CBRE 5
INDUSTRIAL PROPERTIES MARKET POLAND VACANCY Q2 2020 INDUSTRIAL BUILDINGS: • total stock of modern A-class warehouse and industrial properties is 19.43 million sq m. 6.70% • net efgective rent ranges between EUR 2.00–4.79 per sq m per month. • average lease transaction size is 8,260 sq m. NEW PROPERTIES New supply of industrial properties in Poland (thousands of sq m) OFFICES: 9.18% Source: CBRE 6
INDUSTRIAL PROPERTIES MARKET GERMANY VACANCY Q2 2020 INDUSTRIAL BUILDINGS: • total stock of modern A-class warehouse and industrial properties is 82.60 million sqm. • net efgective rent ranges between EUR 3.80–7.15 per sq m per month. 2.40% • average lease transaction size is 11,500 sq m. OFFICES: 3.60% INDUSTRIAL PARK ALSDORF, GERMANY Source: CBRE 7
UNIQUENESS OF OUR PARKS SUFFICIENCY AND HIGH QUALITY • strategic location with quality infrastructure LOCATION IS THE KEY OF WORKFORCE • tenants of global brands from e-commerce, logistics and production LOGISTIC ACCESSIBILITY TO EXCELLENT ACCESS FOR TRANSPORT THE TENANTS TARGET MARKET • modern halls with environmentally friendly technologies • support for the economic growth of the region GOOD STRATEGIC POSITION LOCATION THAT MEETS THE NEEDS • rebirth of traditions - revitalization of brownfjelds IN THE REGION OF SUPPLIERS AND CONSUMERS The diversifjcation of our portfolio from the perspective of the tenant industry and the region ensures our fund's stability and excellent results. PRAGUE GERMAN BORDER CHEB (155 km, 120 min) (14.3 km, 10 min) (5.1 km, 11 min) EXIT 164 T.F.S. DHL INTERNATIONAL BWI TCHIBO D6 INDUSTRIAL PARK CHEB, CZECH REPUBLIC 8 8
MODERN INDUSTRIAL PARKS FOR SUSTAINABLE FUTURE Accolade is a socially responsible investment group with commitments to its investors, tenants, business partners, but also to the society, environment, and its employees. Sustainable development is key for Accolade. Our ESG strategy includes our commitments. In addition to creating new locations, the Fund’s long-term goal is to revitalize existing brownfjelds. Brownfjelds accounts for almost 30% of the fund`s portfolio. BREEAM OUTSTANDING EXCELLENT VERY GOOD GOOD TOTAL BREEAM 623,622 SQ M 27,326 sq m 43,062 sq m 149,650 sq m 403,583 sq m E – ENVIRONMENTAL S – SOCIAL G – GOVERNANCE WE INVEST AND DO BUSINESS IN WE SUPPORT BENEFICIAL TRANSPARENCY HARMONY WITH ENVIRONMENTAL PROJECTS FOR THE SOCIETY IN THE AND FAIRNESS PROTECTION REGIONS WHERE WE OPERATE IS PRIORITY TO US 9
PARKS IN ACCOLADE INDUSTRIAL FUND BIAŁYSTOK BYDGOSZCZ SZCZECIN SZCZECIN ZIELONA GÓRA ZIELONA GÓRA LUBLIN LEGNICA KIELCE ALSDORF CHEB PAVLOV TÝNIŠTĚ CHEB SOUTH NAD ORLICÍ HOŘOVICE STŘÍBRO STŘÍBRO PŘEŠTICE PARKS IN THE FUND PARKS IN PROCESS 10
OUR PARKS CZECH REPUBLIC, POLAND , GERMANY CHEB CHEB SOUTH OSTROV U STŘÍBRA PŘEŠTICE HOŘOVICE TÝNIŠTĚ NAD ORLICÍ PAVLOV SZCZECIN LUBLIN BYDGOSZCZ 11
OUR PARKS CZECH REPUBLIC, POLAND , GERMANY ZIELONA GORA KIELCE LEGNICA BIAŁYSTOK ALSDORF CHEB IN PROCESS ZIELONA GORA SZCZECIN OSTROV U STŘÍBRA IN PROCESS IN PROCESS IN PROCESS 12
OUR FUND IN NUMBERS 60 7 % tenants expected return p.a. 15 960 industrial parks investors ACCOLADE INDUSTRIAL FUND INVESTMENTS AS OF JUNE 30, 2020 EUR: 42.791 million: annual revenue from lease agreements EUR: 621.929 million: total value of Accolade Industrial Fund 850,789 sq m: gross leasable area ESTIMATED VALUE OF ACCOLADE INDUSTRIAL FUND INVESTMENTS +7% WITH THE POTENTIAL PROJECTS AS OF JUNE 30, 2022 EUR 66.463 million: annual revenue from lease agreements EXPECTED RETURN p.a. EUR 983.231 million: total value of Accolade Industrial Fund 1,332,882 sq m: gross leasable area 13
ACCOLADE INDUSTRIAL FUND CURRENT PROJECTS LOCATION COUNTRY VALUATION GLA (sq m) LEASE TERM WAULT LTV A - projects in fund Park Hořovice Czech Republic 21,420,000 € 34,780 6-10 years 5.73 Park Cheb Czech Republic 102,070,000 € 147,227 5-15 years 4.94 Park Stříbro Czech Republic 103,860,000 € 123,172 7-17 years 8.61 Park Pavlov Czech Republic 8,670,000 € 11,005 3-5 years 1.90 Park Týniště nad Orlicí Czech Republic 8,370,000 € 9,783 10 years 7.39 Park Přeštice Czech Republic 16,570,000 € 14,015 16 years 14.15 Park Cheb South Czech Republic 19,700,000 € 27,326 10 years 9.78 Park Szczecin Poland 114,960,000 € 169,422 2-11 years 4.51 Park Bydgoszcz Poland 30,670,000 € 50,109 4-6 years 1.73 Park Zielona Gora Poland 56,540,000 € 81,111 3-10 years 4.71 Park Lublin Poland 53,454,000 € 73,470 4-10 years 4.93 Park Kielce Poland 26,690,000 € 36,373 7-10 years 8.54 Park Bialystok Poland 31,020,000 € 42,188 3-10 years 5.19 Park Legnica Poland 19,880,000 € 23,294 10 years 9.06 Park Alsdorf Germany 8,055,000 € 7,512 10 years 9.07 TOTAL 621,929,000 € 850,789 5.98 56.26% LOCATION ASSUMED ACQUISITION COUNTRY VALUATION GLA (sq m) LEASE TERM WAULT LTV B – projects in process Park Stříbro (expansion) 3Q 2020 Czech Republic 25,000,000 € 25,585 30 years 30.00 Park Cheb (expansion) 4Q 2020 Czech Republic 12,700,000 € 12,898 10 years 10.00 Park Szczecin (expansion) 4Q 2020 Poland 10,100,000 € 12,192 5-10 years 6.90 Park Zielona Gora (expansion) 4Q 2020 Poland 12,750,000 € 11,626 5-7 years 6.65 TOTAL 60,550,000 € 62,300 12.70 70.00% 14
ACCOLADE INDUSTRIAL FUND BANK FINANCING 357.039 mil. EUR COUNTRIES SHARE IN PORTFOLIO VALUE 621.929 mil. EUR 43% Aareal Erste Bank 21% Poland 53.6% UniCredit Bank 14% Czech Republic 45.1% ČSOB 7% Germany 1.3% 6% Santander 5% Pekao 4% mBank Sparkasse 1% TOTAL LEASED-UP AREA 850,789 SQ M ANNUAL RENTAL INCOME OF 42.791mil. EUR % share of industries in leased-up area % share of tenants in rental annual income 13.3% DHL 7.3% KION Group 29.9% E-commerce Tchibo 6.1% Logistics 29.6% Raben 4.9% Automotive 12.4% Pierce 4.0% Engineering 11.7% Assa Abloy 4.0% Retail 8.8% 3.7% Expondo 7.1% Eletrical 3.1% ABC Autoparts 0.3% IT recycling Oponeo 3.1% 0.2% Plastic piping real Digital 2.9% Gates 2.8% 44.9% Ostatní 15
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