Active Asset Management · 2019-09-03 · FREM results Portfolio Structure & Services Asset...
Transcript of Active Asset Management · 2019-09-03 · FREM results Portfolio Structure & Services Asset...
Active Asset Management
Company Profile
1. FREM results
2. Portfolio
3. Structure and Services
4. Asset dedicated services
5. FREM refurbishment case history
6. Development Strategy
i. Preliminary phase
ii. Development phase
iii. Asset Management
7. FREM development case history
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
AUM
10
667
sqm 295 K
€ 57,5 M
42,3 M
€ 640 M
€ 760,2 M
1,83 %Total Turnover
L12M under
management
Total Gross
Rental Income
Overall Footfall
Total GLA
under
management
Weighted
average (gla)
Vacancy Rate
Assets count
Units under
management
FREM assets performance overview
Our Shopping Centers
Aura, Roma
19.672 sqm GLA
Gran Roma, Roma
30.643 sqm GLA
Gran Sasso, Teramo
30.349 sqm GLA
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord AURA Gran Roma Happio Antegnate Monopolis
Opening year 2008
GLA 35.356
Hypermarket Emisfero
Number of shops 70
Number of floors 1
Number of parking slots 2.200
Catchment area (up to 30') 307.018
Anchor tenants Euronics, H&M, CarpisaScarpe&Scarpe, Calliope
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Opening year 2002GLA 30.236Hypermarket EmisferoNumber of shops 51Number of floors 1Number of parking slots 1.450Catchment area (up to 30') 192.732
Anchor tenants Cisalfa, Scarpe&Scarpe, OVS Unieuro
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Opening year 2007
GLA 30.349
Hypermarket Conad
Number of shops 80
Number of floors 1
Number of parking slots 1.800
Catchment area (up to 30') 190.000
Anchor tenants Conad, Mediaworld, Bricofer, Globo, Terranova, Zara, Cisalfa
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Opening year 2003
GLA 24.273
Hypermarket Esselunga
Number of shops 43
Number of floors 3
Number of parking slots 1.800
Catchment area (up to 30') 708.089
Anchor tenants Unieuro, MedStore, UCI Cinema, Virgin
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Opening year 1993
GLA 44.578
Hypermarket Emisfero
Number of shops 104
Number of floors 2
Number of parking slots 2.050
Catchment area (up to 30') 722.041
Anchor tenants Conbipel, OVS, MediaWorld, H&M, Piazza Italia, Cisalfa, Zara
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Opening year 2008
GLA 32.341
Hypermarket Carrefour
Number of shops 35
Number of floors 1
Number of parking slots 2.100
Catchment area (up to 30') 425.000
Anchor tenants Conbipel, Decathlon, GloboEuronics, Happy Casa, OVS
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
First floor Second floor
Third floor Fourth floor
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Opening year 2018
GLA 19.672
Hypermarket Pam
Number of shops 61
Number of floors 4
Number of parking slots 600
Catchment area (up to 30') 1.230.000
Anchor tenants H&M, Euronics, Terranova, Calliope, Scarpamondo
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
First floor Second floor
Opening year 2019
GLA 30.643
Hypermarket -
Number of shops 98
Number of floors 2
Number of parking slots 1.800
Catchment area (up to 30') 2.500.000
Anchor tenants Cisalfa, Maison du Monde, Zara,Bershka, Pull&Bear, H&M, Zuiki, Mediaworld
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
+2 floor
+1 floor
Mezzanine floorUnderground floor
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Opening year 2015
GLA 11.670
Hypermarket -
Number of shops 34
Number of floors 4
Number of parking slots 400
Catchment area (up to 30') 1.730.000
Anchor tenants H&M, Kasanova, Piazza Italia, KFC, Decathlon
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Opening year 2009
GLA 35.886
Hypermarket Auchan
Number of shops 91
Number of floors 2
Number of parking slots 1.843
Catchment area (up to 30') 689.724
Anchor tenants Zara, H&M, Trony, Bata, OVS
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Gran Fiume Belforte Gran Sasso Meridiana Palladio Terminal Nord Aura Gran Roma Happio Antegnate Monopolis
Opening year 2019
GLA 43.500
Hypermarket Conad
Number of shops 63
Number of floors 1
Number of parking slots 2.034
Catchment area (up to 30') 290.000
Anchor tenants H&M, Leroy Merlin, Globo, Centro Convenienza, Zuiki,Happy Casa
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Top Management
Finance Asset management Technical dept. Digital dept.
FREM Organization Layout
Development dept.
FREM value-add strategy
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
ASSET SERVICES
Shopping centers, outlet and retail
parks management
Hotels management and
development
Reporting and data analysis
Valuation and strategy
Facility management
Strategic Advisory
Third party and professional supervision
Project management
One-to-onerelationship
Technical supervision on
property management
ACCOUNTING
TRANSACTION
TECHNICAL
LEASING & ADVISORY
DEVELOPMENT
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Turnover
•Adopting marketing initiatives so as to maximize turnover for tenants.
•Implementing the best merchandise mix so as to complement the offer for our customers.
•Aiming to retain the best tenants and attract new retail trends representative.
Footfall
•Constantly investing on the asset to improve its attractivness for consumers.
•In addition to the ineherent shopping possibilities, we create marketing plans to engage and entertain visitors.
•Digital Media/Marketing approach to raise awarness, create engagement and interaction with the customer base.
€\Mq ( Rental income )
•NOI driven approach.
•Strategy to reach sustainable OCR for all tenants by understanding their potential and identifying creative solutions to grant them stability.
Value-Add Redevelopment
•Changing the shape/size of the mall and the building to welcome new anchor tenants to increase the critical business mass.
€\mq (rental income)
Value-Add
Redevelopment
Footfall
TurnoverFREM Tasks
Key Successful Factors
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Granfiume GransassoBelfortePalladio
Refurbishment 2016The Mall was originally built in the 90’s and expanded in the early 2000’s, to be finally refurbished over the course of 2016 under FREM’s Management.
Complete refurbishment of the main square with new escalators to create a wide new square, new shops and overall mall merchandise mix rebalanced
obtained through the reduction of the hypermarket to allow the transfer of Cisalfa and Mediaworld therein, so as to welcome the Inditex group with all its
brands in the areas previously occupied by them.
FREM refurbishment case history
Development StrategyDevelopment StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Refurbishment plan for 2019Bulding a Multiplex Cinema on the first floor, with the tear down and re-construction of a large part of the building and redrafting the existing food court.
In order to complete the refurbishment, interventions will also impact Palestre Italiane in a wider commercial operation, envisioning its reposistioning in the
mall. Relamping and restyling of the corridor cealings, overall care of every commercial detail to finalize the transformation of the asset into a core level
investment.
Current Status Future Status
FREM refurbishment case history
Granfiume GransassoBelfortePalladio
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Refurbishment 2018An almost 2-year long intervention to stabilize the asset and improve its merchandise mix saw H&M moving into a reduction of the hypermarket,
creating also the necessary space for the opening of an AW-LAB store adjacent to the new H&M location.
The operations in order to introduce Conbipel and Doppio Malto into the former H&M unit have been finalized.
Previous Status Current Status
Granfiume GransassoBelfortePalladio
FREM refurbishment case history
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Refurbishment 2018After a couple of years to stabilize the mix at best, ZEBRA A PUA’ opened a medium size shop into a reduction of the hypermarket.
The foodcourt was further implemented through the introduction of Burger King into a reduction of the GUSTAVO unit.
Development 2018 – 2019Ongoing negotiations for the further implementation of the foodcourt plaza to introduce another national operator
Current StatusPrevious Status
Granfiume GransassoBelfortePalladio
FREM refurbishment case history
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
Refurbishment 2018After years of interventions to stabilized the merchandise mix through turbulent times, ZARA was eventually introduced into the mall, GLOBO was relocated
into a smaller unit to make room for the spanish brand, and OVS had to leave the mall to make room for a more performing tenant.
Refurbishment plan for 2019The decision taken by Bricofer to step out the mall has represented the opportunity to introduce missing merceologies inside the mall.
Ongoing negotiations will finalize in the next months the introduction of Arcaplanet and Happy Casa in the splitted ex Bricofer unit.
Previous Status Current Status
Granfiume GransassoBelfortePalladio
FREM refurbishment case history
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
i. Preliminary Phase
Cost Benefit Analysis
SWOT Analysis
Feasibility Study
Current Situation
Analysis
1
2
3
4
5
Master Plan Verification
Procurement Supervision
Capex Plan Verification
Business and Leasing Plan
Project Approval
Assistance in Financing Process
Project Design Assistance
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
One to one
relationship
ii. Development Phase Yard Supervision
(men on site)
iii. Asset Management Phase
Asset Launch
Asset SaleAsset Management
Monthly/quarterly
Reporting
Pilotage Supervision
Property company research
Supervision on the procurement for the
property management
Digital Marketing Approach
Pre Letting Activity
Supervision on the property management
budgeting
Planning and Control of Costs
Planning and Control of Schedule
Project approval
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio
FREM development case history
Gran Shopping Mongolfiera, Molfetta, Bari (BA)
Start of construction: 2006
End of construction: 2008
Year of sale: 2013
Not managed by FREM anymore
Gran Sasso Gran Shopping, Teramo (TE)
Start of construction: 2006
End of construction: 2007
Year of sale: 2013
Asset still managed by FREM
Development StrategyAsset dedicated ServicesStructure & ServicesFREM results Portfolio