Castello Corporate Presentation ENG...Castello Corporate Presentation_ENG Created Date 12/11/2017...

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Corporate Presentation

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IndexCastello SGR - Business

Castello SGR – Real Estate Management

Castello SGR - History

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Castello SGR – Company Structure

Castello SGR – Governance

Appendix: Most Relevant Funds at a glance

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Castello SGR - Business

Overview

n Castello SGR S.p.A. (hereinafter ‘Castello’) is an Alternative Investment Management Company mainly focused on establishing and managing

real estate investment vehicles (Italian Closed End Real Estate Funds and SICAF) and on asset management of real estate portfolios.

n Established in 2007, Castello is one of the leading Investment Management Company (‘SGR’) operating on the Italian Real Estate market,

thanks to the 30 closed-end funds managed for a total consideration of Euro 1,85 billion of AUM, Castello ranking stands among the first 10

SGR operating in Italy.

n Funds managed cover a wide range of real estate investment clusters, from core to opportunistic deals, spread over different asset classes

such as offices, retail, logistic, residential, energy, with a strong focus in the hotel industry (more than 1900 rooms owned by X funds) and

development. Castello has also developed relevant capabilities in distressed loans and distressed assets management, NPLs and asset

repositioning.

n Castello represents the ideal local partner for international real estate investors without a stable organization in Italy which need services

which range from origination to disposal of real estate opportunities..

n Since 2013 Castello has implemented a growth path not only raising money on the market but also consolidating the industry thanks to 3 of

the main M&A deals of SGRs (DB Fondimmobiliari, Prisma, Valore Reale which managed more than Euro 1,0 bn on the whole).

n Being a sole provider of investment and asset management services, Castello, differently from some of its main competitor has not conflict

of interest issues arising from provision of real estate services.

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5 6 7

1214

18

24 24

136 250

464 640

862 983

1.361 1.410 1.586

1.9681.846

0

5

10

15

20

25

30

35

40

45

-

500

1.000

1.500

2.000

31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 31.12.2013 31.12.2014 31.12.2015 31.12.2016 30.06.2017

Numero Fondi Gestiti AUM

Castello SGR - History

Key Milestones

Evolution of AUM e dei Funds managed (€/mln)

November 2007 –Clesio’sFund Inception

February 2010 Catella Real Estate becomes shareholder

January 2013 –Acquisition of the entire AUM of RREEF FondimmobiliariSGR

December 2015 -Acquisition of Prisma SGR

March 2016 -Acquisition of Valore RealeSGR

N. Of Funds Under Management

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Castello SGR - Real Estate Management

Geographical distribution and asset allocation

NAV/Debt breakdown

Portfolio breakdown per use*

Investors breakdown per type**

769

1.077

North60,8%

Center30,7%

South & Islands8,5%

Total AUM as of 30.06.2017: €1.846m

* Based on Assets Value** Based on the NAV held by different investors

Corporate; 28,7%

HNWI; 5,4%

Institutional; 58,2%

Retail; 7,7%

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77

14

23

2

18

6

3

76

2

3

5

1

2

1

11Retail19%

Residential19%

Logistic4%Hotel

17%

Directional25%

Others16%

Liabilities

NAV

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n The company capital structure includes main financial operators; their network and expertise in the Real Estate & Financial industry allows

Castello to set up the best tailor made investment opportunities. The management holds 2,5% of the capital:

38,9%

27,7%

15,8%

12,1%

3,1% 2,5%

Castello SGR - Company Structure

Shareholders

CARITRO Foundation

LO.GA-FIN

MAIRE INVESTMENTS S.p.A.

MANAGEMENT

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Castello SGR - Governance

Organizational chart– 36 employee

BoD

Risk Management

Internal Audit

Compliance

Finance & Operations

Legal and Corporate affairs

Executive assistant

Head of Investments

Business Development

Real Estate Evaluation

Funds Committee*

CEO

Executive Committee

Head of Fund Management

Fund Managers

SGR Finance, Control and Administration

Head of AssetManagement

Asset Managers

Analysts

* Composed by CEO, Head of Investments, Head of F&O, Head of FM, Head of AM and Head of FFA.Compliance, Risk Management, Legal and Corporate affairs, and upon request FM and AM, participate asguests

Board of statutoryauditors

RemunerationCommittee

Reception

Fund Finance and Administration

SGR/Fund SharedServices

Analysts

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Appendix: Most relevant funds at a glance

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n Augusto, closed-end RE Fund, invests in stable income real estate assets;

morevover, the fund invested in two real estate developments

n The portfolio consists of 22 assets:

n 2 Directional assets

n 2 Enetrtainment Centre

n 10 stores rented at Unicoop and a 1 further retail asset

n 5 hotels

n 2 Developments: 1 residential and 1 mixed residential / hotel use

Description and investors Closed-end Real Estate fund aimed at institutional investors

Inception March 2010

Duration 11 (+3) years

Industry Offices/Retail/Entertainment Centre/Developments

Investment Type Core + / Value Added

Total Assets € 216,6 Mln

NAV € 111,9 Mln

LTV 52,5%

Key Data* Overview

Asset Allocation (% OMV)*

Geographical Distribution

Asset Allocation by use destination

South

Center

North

* Figures as of 30/06/2017

Retail

Logistic

Directional

Hotel

Development

Entertainment Center

Gli Immobili

Cerro Maggiore

Trezzano sul Naviglio

Coop

Sviluppo Courmayeur

Sviluppo Capecelatro

62%35%

3%

15%

23%

39%

8%15%

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December2015

n Requalification & Development of an ex Michelin industrial area in Trento.

The site is close to the city centre and covers an area of 116.000 sqm

n Renzo Piano (Renzo Piano Building Workshop Srl) was instructed to realize

the project

n Using special materials, following innovative solutions regarding the use of

alternative energy sources and embellishing the area with the green colour

characterizes the investment to be particularly eco-friendly

n The development of the area has been completed and it is currently being

sold.

May2008


Inception November 2007

Duration 5 (+3) years – extended to 31/12/2020

Industry Residential/Services/Retail/Public Infrastructure

Investment Type Development


NAV € 48,9 Mln

LTV 71,3%

Key Data*

The Development Project

Overview


Asset Allocation (% OMV)

North-East

44%

7%

27%17%

5%

Residential

Services

Retail

PublicInfrastructure

Hotel



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n Cosimo I is the main financial product for indirect investments in the Hotel

& Resort industry

n The fund qualifies as partner of touristic operators willing to operate the

business, therefore handing over the hotel management activity to players

focused on realizing stable growth

n The primary target of Cosimo I is to aggregate Hotel & Resorts able to

communicate the typical Italian Hospitality concept

n Cosimo I holds the majority of IHC, company in charge of managing Chia

Laguna, Fonteverde, Grotta Giusti and Bagni di Pisa


Inception March 2008


Industry Hotel & Resorts

Investment Type Core / Core +


NAV € 57,9 Mln

LTV 67,2%

Key Data*

Assets

Overview

Chia Laguna Resortn 3 Hotels

n 4/5 stars;

n 458 rooms.

Grotta Giustin Biggest thermal cave

in the world;

n 4 stars superior;

n 64 rooms.

Fonteverden Exclusive 5 stars

Luxury Resort;

n 78 rooms.


Resort - Sea DestinationLeisure & Spa

South & IslandsCenter




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n Energheia is a closed-end fund focused on the acquisition/contribution in

kind of photovoltaic installations

n Castello SGR is in charge of the management/promotion and P4E operates

as an advisor

n The Fund received an equity commitment of Euro 41 Mln. The portfolio

consists of 14 photovoltaic installations with an annual production capacity

of 18 million KwH




Industry Energy

Investment Type Core / Core +


NAV € 34,5 Mln

LTV 69,4%

Key Data*

Photovoltaic Installations

Overview


South

North

Center

Vellezzo Bellini Pessina Cremonese

Sant’Angelo

Frosinone Avezzano

Sant’Omero

CampomarinoSiniscola

PhotovoltaicInstallations




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94,0%

5,8%0,3%

n Picasso invests in value added Real Estate properties

n The portfolio consists of four business centre:

n Metrocomplex (MI): area of 21.124sqm, composed of 5 Buildings (mainlyoffices) + 190 parking slots

n Lamaro (RM): Asset of 11.871sqm entirely leased to a primary TLCcompany

n Cavour 6 (RM): Asset of 14.000sqm entirely leased to Italian Ministry ofHome Affairs

n Cavour 5 (RM): retail & directional asset for a gross area of 23.000sqm.The property is wholly located

n In December 2016, the Fund purchased a retail portfolio composed by 9asset, located throughout the Italian peninsula

Description and investors

Closed-end speculative Real Estate fund aimed at institutional investors


Duration 7 (+3) years – extended to 31/12/2026

Industry Offices

Investment Type Value Added


NAV € 93,9 Mln

LTV 56,8%

Key Data*

Assets

Overview


Center

North

Offices

Metrocomplex (MI)Lamaro (RM)

Cavour 6 (RM)

Cavour 5 (RM)



Retail Logistic

61,7%

38,3%


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n Priula, formed through the contribution of the RE assets, is currently

invested in a portfolio composed by 26 assets with different focus and use

destinations

n The Fund’s portfolio is composed by several kinds of investments, such as

Real Estate development, repositioning and rented properties


Inception December 2012


Industry Offices/Residential/Retail/RSA



NAV € 78,9 Mln

LTV 43,8%

Key Data*

Assets

Overview


Offices

Hotel

Residential

Land

RSA

Other

Como, Via Paoli

Bergamo, Palazzo Rezzara

Bergamo, Buon Pastore

Lecco, Via Costituzione

North




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Description and investors Listed Real Estate Fund

Inception February 1999


Industry

Investment Type Core /Core +


NAV € 36,5 Mln

LTV -

Key Data*

Assets

Overview


n Valore Immobiliare Globale (“VIG”) was the first Italian real estate fund promoted

in 1998

n It’s listed since November 1999

n The portfolio consists of one directional asset

Roma – Via Bombay

Offices

Center




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Duration 9 years +2

Industry Office/Retai/Cash&carry/Parkin Lots



NAV € 154,5 Mln

LTV 0%

Key Data*

Assets

Overview


n Tarvos consists of 13 assets previously part of two portfolios, BPI and EGD,

managed by BNP Paribas SGR.

n BPI Portfolio is composed by of eight retail assets located in northern and central

Italy, with a total GLA equal to 59.067 sqm and consists of six offices located in

Milan, Bologna and Rome, an entertainment center located in Gallarate (near

Milan), and a Parking Lot located in Genoa;

n EGD Portfolio is composed byfive retail assets with a total GLA equal to 35.838 sqm

and consists of two Cash&Carry located in Pozzuoli (NA) and Ravenna, a shopping

gallery and an MSUs both located in Ortona (CH) and an hypermarket located in

Rivoli (TO).

North

Fondo Tarvos

Via Bernina - Milan

South

Parking Lots

Cash & Carry

L&G Building - MilanofioriPalazzo Pegaso – Agrate

Brianza

Ortona Center – Ortona (CH)

56%28%

2%14%

Retail/Supermarket

65%

24%

11%

Center

Offices




Castello Corporate Presentation ENG...Castello Corporate Presentation_ENG Created Date 12/11/2017...

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