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MARKET ENVIRONMENT
Investment Volumes per Sector (Million €).
Investment
9,218
Million €
Investment increase vs 2014
27%
Record real estate investment in 2015: € 9,218 million,
up 27% year-on-year.
BUSINESS MODEL
Investment in established commercial property in Spain - assets in excellent locations presenting management upside - with a view to boosting cash flows and generating value:
Retail
Offices
Logistics
Residential
GOVERNANCE
CORPORATE GOVERNANCE
Updated Articles of Association and Board Regulations
Corporate Governance Policy
Remuneration Policy
Director Selection Policy
Board Performance Evaluation
Officer Evaluation
ETHICS AND COMPLIANCE
Code of Conduct and Whistle-blowing Channel
Crime Prevention Model
Anti-Money Laundering Manual
Corporate Social Responsibility Policy
Corporate Social Responsibility Master Plan
CORPORATE SOCIAL RESPONSIBILITY
RISKS & OPPORTUNITIES
Risk Control and Management Policy
Enterprise Risk Management (ERM) System
Risk map and risk files
Monitoring strategy shaped by risk categories and Action Plan
PORTFOLIO RISK MANAGEMENT
Portfolio diversification by asset class and investment volume
STRATEGY
2015 results
- 100% delivery of investment strategy
- Average Yield on Cost above that of the competition
- 12 assets acquired for a total of € 454 million
Mid-cap REIT specialised in medium-sized commercial property
Generation of compelling shareholder returns via portfolio yield: Annualised net rental income: € 50.9 million
Portfolio diversification
Innovative financing
Competitive profit-sharing policy. DPS: €0.201
Property acquisitions: carefully selected; proprietary dealflow
Active and diversified management - annual asset revaluation: 6.1%
Managed exclusively by Grupo Lar
OUTLOOK
€135 million equity raise to position the platform for the long term: continued active and innovative property management with the aim of creating sustainable value and becoming a sector benchmark
PORTFOLIO LEVERAGE
Target LTV: round to 50%