INVESTOR PRESENT ATION September 2020 GREAT THINGS HAPPEN WHEN YOU OWN GREAT REAL ESTATE 1
ABOUT US GAZITGLOBE GLOBAL PRESENCE (1) Gazit globe is a leading global real estate company focused mainly on the ownership, management and development of income-producing properties for mixed use including retail, office and residential located in densely populated urban cities 10 8 2. 5 Germany, 2% PROPERTIES MILLION SQM of GLA (26.9 million Sqf.) Brazil, 15% Nordics, 21% = WITH A TOTAL OF NIS 3 7 B USD11B Israel 2 , 24% ASSETS VALUE CEE, 26% US & Canada, 12% LISTED ON THE TASE Information in the presentation is as of June 30, 2020, unless otherwise stated. NIS/USD exchange rate as of June 30, 2020 1$=NIS 3.47 (1) Based on market value as of June 30, 2020. (2) Including investments in Bulgaria and Macedonia. 2
ABOUT US GAZITGLOBE 15.6 INVESTMENT PORTFOLIO BILLION NIS 15.6 BILLION NIS DIRECT INVESTMENTS EUROPEAN SUBSIDIARIES NIS 8.0 BILLION NIS 7.6 BILLION USD 1.0b USD 1.2b USD 1,0 08 m USD 720 m USD 490m USD 72m (NIS 3.4b) (NIS 4.2b) (NIS 3.5 b) (NIS 2.5 b) (NIS 1.7b) (NIS 0.25b) Investment Investment Investment Investment Investment Investment 48. 9% 6 7 .1 % 100% 100% 100% 60 % Owned Owned Owned Owned Owned Owned 41Assets (1) 31 Assets (1) 5 Assets 11 Assets 7 Assets 11 Assets (1) 11 Assets (2) NORDICS GAZIT ISRAEL GAZIT BRASIL GAZIT TRIPLLLE CENTRAL EASTERN GAZIT HORIZONS EST. 2019 ACQUIRED 2004 ACQUIRED 2008 EST. 2005 EST. 2008 EST. 2017 Figures represented are as of June 30, 2020 unless otherwise specified and include rounding adjustments. (1) Citycon, Atrium and Horizons - including jointly controlled properties. (each one). G CITY | RISHON LETZION 3
Urban Assets Portfolio Providing Daily Needs and Services GAZITGLOBE During COVID-19 55% of the group ’ s GLA were opened to business Tenant Mix Based on Proportionate NOI* Geographic Diversification Based on Proportionate NOI*: DIY, Home Brazil Furniture 3% Canada Germany Israel Entertainment Supermarket, 8% 1% 16% 1% 5% 450 Drugstores 16% Russia Million visitors 7% annually Non Apparel U.S Slovakia Retail 5% 9,375 2% 20% Lease agreements in the Group Banks, Czech Clinics, 6% Norway 108 Offices, 12% # of assets Services As of June 30, 2020 16% Cafe & Poland Resturants 1 44 18% Supermarkets in 10% Sweden the Portfolio 9% Apparel Finland & Estonia 30% 15% ~ 1.7% Contribution of the largest tenant in the Group according to proportionate 79% Of Gazit ’ s Assets Are Quality Assets Portfolio that Incorporates Partially NOI Tel Aviv Boston Located In 15 Metropolitan Areas. Open-Air Assets in Densely Populated Urban Areas, New York Warsaw Not relied On Dominant Tenants. Prague Stockholm Sao Paulo Helsinki *Company share in group NOI As of June 30, 2020. 4
European Countries in which the Group Operates lead in Number of GAZITGLOBE Visitors (Footfall) Consistent Footfall Growth in European Retail and Recreation Centers Last Week of April Last Week of May Last Week of June Last Week of July 20.0% 10.0% 0.0% January 2020 As Base -10.0% -20.0% -30.0% -40.0% -50.0% -60.0% -70.0% -80.0% Source: Google ’ s Community Mobility Reports 09/08/2020 The basic scenario is average footfall for the period 3/1 - 6/2/2020 5
GAZITGLOBE Value Creation Through Acquisition of Premium Properties in Special Locations Produce of high yield over long-term from a property Acquisition of properties Pro-active management with value-add potential Disposition of stabilized assets RISHON LETZION I G CITY I ISRAEL SÃO PAULO I TOP CENTER I BRASIL MANHATTAN I BRIDGE TOWER I NEW YORK Yield-on-cost (commercial part) has increased Additional 60,000 sq.m. of office space on the top of the • • Executed a new lease agreement with international retail • from 6.5% (2014) to 9.0% (2019) existing property, situated on an 80 dunam parcel owned by the credit tenant 70% NOI increase over a five-year period Company (currently only 80,000 sq.m is improved) • Lease term - 20 years • The property is situated next to the planned light rail station and • Annual lease payment of USD 7.2 million as compared • within walking distance to the Moshe Dayan railway station with USD 3.8 million Preparation of planning scheme at regional level to add rights to • Value Increase of USD 15.0 million As of June 30, 2020 • construct 3 additional office blocks with an additional area of 180,000 sq.m. 6
GAZITGLOBE Strategy 79% of Gazit ’ s Assets* are Concentrated in 15 Metropolitan Areas Focus on Major Cities in Densely Populated Areas 79% STOCKHOLM 10 HELSINKI 14% OSLO METRO TEL AVIV** TALLIN COPENHAGEN ASSETS TORONTO WARSAW WROCLAW PRAGUE NEW YORK BOSTON BOSTON NEW YORK 13 PHILADELPHIA TORONTO 9% PHILADELPHIA MIAMI ASSETS TEL AVIV MIAMI 7 11% SAO PAULO ASSETS STOCKHOLM HELSKINI 24 27% OSLO COPENHAGEN ASSETS TALLIN GOTHENBURG SÃO PAULO 8 WARSAW 18% PRAGUE WROCLAW ASSETS * The Company's relative share of the total value of the assets of the subsidiaries. ** Including G. Kfar Saba, G. Rishon Lezion, Savyon and two land parcels. 7
GAZITISRAEL ISRAEL Super Urban Assets Average Socioeconomic Score* 12 #Assets 3.4 B Portfolio NIS Value GLA 168K SQM (Company ’ s share) Source: CBS, * Socio-Economic Index SES (Urban Interior Cluster). 8
Development Projects GAZITISRAEL G CITY OFFICE TOWER – 65,000 SQM G KFAR SABA DECATHLON STORE AND HEADQUARTERS ADDITION Excavation and TO G CITY deepening ~ 65 K work is completed SQM * Company ’ s share – 25.5% Addition to G City (existing property) in Rishon Letzion, on a land of approximately 80 dunams Additional GLA – 13,600 SQM* • • privately held, adjacent to the under-construction light rail train station (Green Line and Brown Decathlon store and office headquarters: excavation and reinforcement • Line), and 500 square meters from the Moshe Dayan train station (Israel Railways). work have been completed, and the decision has been made to advance Estimate for receipt of permit for excavation and reinforcement in the third quarter of 2020. Stage A of the project – Decathlon retail and offices. • Stage B – Two additional retail levels will be considered at a later time. • 9
Development Projects (cont.) GAZITISRAEL G SAVION POPULATION 24 WITHIN 1 KILOMETER AREA (THOUSANDS) 10 socioeconomic score Addition to G SAVION (existing property) on a land of approximately 30 dunams privately held. • Today, 3,210 sqm of commercial center and office space. • Additional 4,500 sqm of commercial center and office space. • 10
Future Development Projects GAZITISRAEL G CITY OFFICE TOWER – FUTURE POTENTIAL G KFAR SABA 21 STORIES OFFICE TOWER AND RETAIL EXPANSION Additional building rights - 40,000 SQM* * Company ’ s share – 51% Future development – Additional three office tower approx. 180,000 sqm. • The Company has started to prepare an urban zoning plan, with district authority, for the addition The company is in the process of using its additional building rights to add prime commercial & • • of rights in order to build three more office towers with a total area of 200,000 sqm. (2,150,000 office space to the existing shopping center. sqf). The Company submitted for building permit of 10,000 sqm (108,000 sqf) expansion of • commercial space and a plan for 21 floors office tower on top of the commercial area in the size of 31,700 sqm (341,000 sqf). Zoning for the office tower has been approved subject to conditions. • 11
NOI NORTH AMERICA GAZITHORIZONS USD MILLION 11 #Assets * 14.5 Portfolio 480 M 7.5 5.9 6.1 USD Value 54 K GLA SQM (Company ’ s share) Major upside and value creation in the existing portfolio: Main results in the period Executed a new lease agreement with • international retail credit tenant, lease term 89.3% is 20 years, In Annual lease payment of USD Occupancy 7.2 million as compared with USD 3.8 million. Focusing on gateway cities Future upside and potential for value with superior demographics creation in the existing portfolio: Value add opportunities Parking conversion to office in 341 • in mixed use properties Newbury, Boston. Renovation and leasing of office space in • 1618-22 Chestnut, Philadelphia Development Pipeline, Brickell, Miami: • Company is examining several scenarios for usage of the 48 stories building rights for mixed use of commercial, office, Illustration lodging and residential. BRICKELL I MIAMI * Including jointly controlled property (Ceaser ’ s Bay in Brooklyn) 12
MARKETPLACE CENTER GAZITHORIZONS ACQUISITION FOR USD 81.8M DEMOGRAPHICS 15M ANNUAL PEDESTRIANS FOOTFALL 389 POPULATION WITHIN 3 MILES AREA (THOUSAND) $106 3- MILE AVG. HOUSEHOLD INCOME (THOUSAND) LEGEND UNDERGROUND STATION MARKETPLACE CENTER I BOSTON I MA 13
BRICKELL | MIAMI DEVELOPMENT OF 48 STORIES BUILDING FOR MIXED USE OF GAZIT HORIZONS COMMERCIAL , OFFICE , LODGING AND RESIDENTIAL BRICKELL GATEWAY OFFICE RESIDENTIAL RETAIL 560,000 SQF RESIDENTIAL RESIDENTIAL 760 UNITS LIGHT RAIL 286,000 SQF 450 UNITS OFFICE 260,000 SQF 438 UNITS HOTEL 352 KEYS STATION BRICKELL | MIAMI | ILLUSTRATION 14
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