grupo lar corporate presentation 2020 · carried out in 2015 and 2016. externally managed by grupo...

Presentación Corporativa. 2020 www.grupolar.com

Corporate Presentation

Corporate Presentation 2020

Presentación Corporativa. 2020

Index1. Company overview

2. Strategy based on competitive advantages

4. Products

Adaptability through diversification

Trusted manager

Solid management structure

Offices

Residential

Shopping centres

Industrial and logistics

5. Appendices

Outstanding projects

Main alliances and joint ventures

3. Grupo Lar by country



1. Company overview


Capital 100% owned by the Pereda family.

278 people in 6 countries / Training programmes in each country and talent selection process for the consolidation of middle management.

Presence in Europe and America (6 countries).

Developers, investors and managers of shopping centres, residential, office and logistics developments.

Co-investor of institutional investors and hedge funds. Manager of Lar España Real Estate, the first REIT to be listed on the Spanish continuous market. .

Equity of EUR 200.3m, and PTP of EUR 11.6m in 2019.

• Grupo Lar is a prestigious Spanish family-owned real estate company with 50 years of experience in development, investment and management of real estate assets at both national and international level.

• Joint ventures with Tier 1 investors / Structural relations with financial institutions.

• Grupo Lar is built on strong foundations such as diversification and financial solidity.

01Ownership stability

Grupo Lar: Competitive advantages

02Solid management team

03Geographic diversification

04Product diversification

05Trusted manager and partner

06Solid financial structure


2. Strategy based on competitive advantages


Management team

Members of the Board of

DirectorsLuis Pereda Chairman and International CEO

Miguel Pereda Board Member CEO Iberia

Jaime Pereda Secretary of the Board of Directors

Maribel Plaza International COO

Solid management structureBoard of Directors and Management Team

Ignacio Bezares Country Manager Mexico

Janusz Kraszewski Country Manager Poland

Miguel Ángel Peña Residential Director Iberia

Ana Cecilia Gálvez Country Manager Peru

Guilherme Carlini Country Manager Brazil

José Manuel Llovet Director of Retail & Logistics Iberia

(*) Residential plots valued at the sale price of the projected homes. Shopping centres, offices and logistics centres are valued according to external assessments (JLL, Cushman & Wakefield).

(**) Equity invested in the current portfolio : Grupo Lar's own resources + third party resources (e.g. Lar España, Centerbridge)


Real estate activity in 2019

HOMES SOLD1,106

PTP IN 201911.6 MM €

HOMES DELIVERED974

+3,800 MM €

TOTAL PORTFOLIO MANAGED (*)

+1,240 MM €

CAPITAL MANAGED (**)

Grupo Lar enjoys a solid financial position due to its geographical and asset diversification.


Diversification by type of assets managed (m2)

▪ 14,844 homes: 1,306,014 m2 ▪ 18 shopping centres: 639,270 m2 of GLA ▪ 3 logistics centres: 102.919 m2 of GLA

Geographical diversification of portfolio (millions of Euros managed)

▪ Europe: 54% ▪ America: 46%%

Colombia 3%

Peru 15% Brazil

8%

Poland 4%

Spain 50%

Mexico 20%

64%

31%

5%

Grupo Lar enjoys a solid financial position due to its geographical and asset diversification.

Note: in Spain, the value of the retail business, which only exists in this country, is taken into account (representing 40% of the total).

▪ Grupo Lar has managed and participated in Real Estate Funds of prestigious international institutions.

▪ E.g. 50% JV with Grosvenor from 2000 to 2008, to develop, invest in and manage offices and shopping centres in Spain. 6 industrial estates, 6 office buildings and 13 shopping centres.

▪ E.g. Grupo Lar and Whitehall (Goldman Sachs) formed an alliance (1998-2002) to invest in shopping centres and offices.

Grupo Lar has a proven track record in Joint Ventures and alliances with top-tier investors and corporate clients, and has used its experience and real estate know-how to help make their investments profitable.

Long and successful joint ventures Alliances and JVs to invest in various assets and geographies

▪ Germany: In 2007, Grupo Lar invested in Offices and Residential for La Caixa's private banking clients.

▪ Spain:

▪ Shopping centres: JVs with Invanhoe Cambridge, Eroski, Vastned Retail, Acciona Inmobiliaria, GreenOak, Sonae Inmobiliaria, GE Capital, Henderson and Rockspring.

▪ Residential sector: More than 3,850 homes in partnership with Banco Sabadell, Bankia, AXA Re, Catalunya Caixa and real estate developers.

▪ Latin America: Strategic alliances and JVs with Grupo Acción in Mexico and Cosapi in Peru.

Trusted managerAlliances and Joint Ventures

Shareholder structure

Solid corporate structure

Grupo Lar is exclusive Manager of Lar España Real Estate, whose objective is to generate a high return for its shareholders, through a management and investment strategy in Spain, with investments focused mainly on Retail.

General overview

Structure of the Board

At 31st December 2019

▪ Independent Board of Directors (5 of the 7 members are independent).

▪ Highly regarded Board members: all members of the Board of Directors hold or have held senior management positions in listed companies in the financial and real estate sectors.

▪ First Spanish REIT to be listed on the Spanish stock exchange (March 2014).

▪ Aiming for a sustainable cash flow and a high return on capital, to achieve a total return for shareholders of more than 12% per year.

▪ Lar España was listed on the stock exchange in March 2014 (EUR 400 million collected) and opted for the REIT tax regime.

▪ Capital increases totalling EUR 276 million were carried out in 2015 and 2016.

▪ Externally managed by Grupo Lar.

▪ The company's strategy is to create a consistent portfolio focused on commercial real estate in the retail sector.

▪ Portfolio valued at EUR 1,552 million at 31 December 2019 with a total surface area of 579,286 m2.

Trusted managerLar España Real Estate

Name PositionJosé Luis Del Valle President and Independent Board MemberAlec Emmott Independent Board MemberRoger Maxwell Cooke Independent Board MemberLeticia Iglesias Independent Board MemberIsabel Aguilera Independent Board MemberMiguel Pereda Independent Board MemberLaurent Luccioni Proprietary director (PIMCO)Juan Gómez-Acebo Secretary (Non member)Susana Guerrero Vicesecretary (Non member)

▪ Acquisition and management of a portfolio of 1,700 homes from the Spanish "bad bank" for EUR 232 million EUR

▪ In partnership with Fortress and Sareb.

▪ 1,100 homes finished, 205 homes under construction and 3 plots for the development of 400 homes.

Grupo Lar manages a residential portfolio with an initial value of EUR 232 million* from Sareb and a shopping centre portfolio with an initial value of EUR 160 million from Vastned. Grupo Lar holds a minority interest in both portfolios.

Accredited Investment and portfolio management capacity Hispania Retail Properties

▪ Acquisition of a shopping centre portfolio worth EUR 160 million from Vastned.

▪ In partnership with Baupost and GreenOak.

▪ Anchor tenants: Carrefour (5 assets), Leclerc, Leroy Merlin and Media Markt.

▪ Successful divestment with revaluations of up to 70% in the five centres sold.

(*) Figure expressed in sales value.

Trusted managerAcquisition of portfolios from Sareb and Vastned in partnership with leading investors.

▪ LAGASCA 99, “Ex Aequo Award for the best Real Estate Performance in Housing 2019", granted by ASPRIMA.

▪ NEXIA, “Ex Aequo Award for the best Communication or Marketing Strategy 2015" granted by ASPRIMA.

▪ PANORAMA, “Architecture, Urban Planning and Public Service Award 2007" in the category of new residential developments, awarded by Madrid City Council.

▪ PANORAMA, “National Architecture Prize 2007" awarded by the Ministry of Housing.

▪ CRISALIS, “Innovation Prize", awarded by the Region of Madrid (2004).

▪ SARRIÁ FORUM, “Most innovative building", Quatrium Real Estate Awards, granted by Grupo Via (2003).

▪ PARQUE PRINCIPADO, “Best Large Shopping Centre", awarded by the Spanish Association of Shopping Centres (2002).

▪ SERRANO 55, “Prize for the Best Non-Residential Development", awarded by Madrid City Council (2001).

▪ ISLAZUL, “Best Shopping Centre Award 2007", awarded by “La Gaceta de los Negocios”, and finalist for the ISCS Award for the Best Shopping Centre in Europe.

Trusted managerAwards


3. Grupo Lar by country


• Managing Director of Grupo Lar for Europe since 2007.

• Member of the Board of Lar España.

• CEO of Grupo Lar Grosvenor for six years.

• Over 25 years in real estate.

• Degree in Economics and Business Administration from the Complutense University of Madrid, MBA from IE and Masters degree from IMD.

Miguel Pereda

Miguel Amo

• Director General of Grupo Lar.

• Previously he was Finance Director, Residential Director and Regional Director for Portugal, Mexico and France.

• Degree in Business Administration from Universidad Complutense de Madrid and MBA from IESE.

• Director with a legal-financial background and 20 years of experience in the real estate and financial sectors carrying out general management functions in top-tier companies.

• Currently Senior Business Advisor in Real Estate at PwC.

• Previously Director of the Equity Area and Director of Strategy and Finance of Metrovacesa.

• Degree in Law from the University of Deusto, MBA from IE Business School and MRICS.

Itziar Mendizabal

Julio Sáenz de Buruaga

• Director involved with the BBVA Group with over 30 years' experience in the real estate and financial sector.

• Previously a director of Anida España, General Manager of Anida Mexico, Director of Real Estate Development of BBVA Inmobiliaria, and Director of BBV in Venezuela.

• Degree in Economics and Business Studies from the University of Valladolid.

Members of the Board of Directors Activity indicators at 31 December 2019

Grupo Lar by countrySPAIN

UNITS SOLD147 UNITS DELIVERED104

60,911 m2

68,310 m2

2,857 m2

366 units

471 units

6 units

14 MM€

143 MM€

6 MM€

13 MM€

67 MM€

0.3 MM€

158,615 m2 1,159 units 226 MM€ 144 MM€TOTAL

639,270 m2 1,594 MM€ 180 MM€

102,919 m2 73 MM€ 7 MM€

742,189 m2 1,667 MM€ 187 MM€TOTAL

26,537 m2 316 units 63 MM€ 63 MM€

Residential

Shopping Centres

Offices

Logistics

Land for sale

Completed buildings

Promoted Stock Square metres/GLA

Nº of homes

Managed Assets (Millions of Euros)

Owned Assets (Millions of Euros)

Rental housing

Members of the Board of Directors

• Executive Member of Grupo Lar.

• Degree from the Complutense University of Madrid, specialising in Law and Econometrics.

• Postgraduate studies at IESE, MIT and Harvard.

• Lecturer in Management at the Instituto de Empresa in Madrid.

• Advisor to the Board of Grupo Barceló.

• Member of the Board of GED Fund Management.

Luis Pereda

Ignacio Bezares

• Regional Director for Mexico and Peru since 2016.

• Country Manager of Grupo Lar Mexico since 2008.

• Previously worked for Santander, Sacyr and Grupo Lar.

• Extensive experience in residential development projects and in management of real estate investment funds.

• Degree in Business Administration from Universidad San Pablo Ceu in Madrid and PDD from IESE.

Activity indicators at 31 December 2019

Grupo Lar by countryMEXICO


84,672 m2

336,570 m2

31,282 m2

636 units

2,857 units

213 units

34 MM€

707 MM€

34 MM€

34 MM€

707 MM€

34 MM€


Maribel Plaza

• International COO of Grupo Lar

• Corporate Director of Grupo Lar for over 13 years.

• Previously Senior Auditor at Deloitte.

• Degree in Economics and Business Studies from the Complutense University of Madrid.

Residential

Shopping Centres

Offices

Logistics

Land for sale

Completed buildings


Nº of homes



Rental housing

Juan Añon

• Senior Adviser for Mexico and Peru since 2018.

• Founding Partner and Director of AIC EQUIP, a company dedicated to the development of architectural, engineering and urban planning projects in the field of housing, education, offices, etc.

• PADE from ESADE. • Degree in Architecture

from the Polytechnic University of Valencia.

LUIS PEREDA • Executive Member

of Grupo Lar. • Degree from the

Complutense University of Madrid, specialising in Law and Econometrics.





FABIO DE ARAUJO NOGUEIRA • Independent member

of the Board of Directors of BR Properties.

• Previously he was Managing Director for Latin America at CPP-IB (Canada Pension Plan Investment Board)

• Until 2012 he was a Board member and Co-Chairman of BFRE - Brazilian Finance and Real Estate and Vice-Chairman of Brazilian Securities, Brazilian Mortgages and Brazilian Capital.

ODAIR SENRA • Chairman of the

Board of Directors of Gafisa S.A.

• 40 years of experience in the Real Estate sector.

• Degree in Civil Engineering from the MAUA School of Engineering (Sao Paulo) and MBA from the University of Sao Paulo.

BRAZIL



210,379 m2

318 m2

3,070 units

4 units

311 MM€

0.3 MM€

311 MM€

0.3MM€


Grupo Lar by country

MARIBEL PLAZA • International COO

of Grupo Lar. • Corporate

Director of Grupo Lar for over 13 years.



GUILHERME CARLINI • Degree in Civil

Engineering from FAAP, MBA in Real Estate from USP and Business Administration degree from USF.

• He began his career at Diâmetro Empreendimentos, a company belonging to the KON Engenharia Group.

• After a few years in other projects he joined Gafisa, where he worked for 9 years until 2018, leaving the company as Executive Director of Incorporation.

Residential

Shopping Centres

Offices

Logistics

Land for sale

Completed buildings


Nº of homes



Rental housing

• Country Manager of Grupo Lar in Peru.

• Previously 15 years at Interbank and 3 years at TM Gestión Inmobiliaria.

• Degree in Economics and Master in Finance.

Ana Cecilia Gálvez

Luis Pereda








PERU


292,195 m2

47,560 m2

4,923 units

17 units

574 MM€

3 MM€

550 MM€

1 MM€


433


Maribel Plaza

• International COO of Grupo Lar.




Residential

Shopping centres

Offices

Logístics

Land for sale

Completed buildings


Nº of Homes



Renatal housing

Juan Añon

• Senior Adviser for Mexico and Peru since 2018.

• Founding Partner and Director of AIC EQUIP, a company dedicated to the development of architectural, engineering and urban planning projects in the field of housing, education, offices, etc.

• PADE from ESADE. • Degree in Architecture

from the Polytechnic University of Valencia.

Janusz Kraszewski

• Country Manager of Grupo Lar in Poland.

• Previously General Manager of Boygues Inmobiliere in Poland.

• Degree from Warsaw University of Technology and Master's degree from Warsaw University.







Luis Pereda


POLAND


62,228 m2 977 units 157 MM€ 157 MM€

62,228 m2 977 units 157 MM€ 157 MM€TOTAL


Maribel Plaza

• International COO of Grupo Lar.




Residential

Shopping centres

Offices

Logistics

Land for sale

Completed buildings


Nº of Homes



Rental housing

Maribel Plaza

• International COO of Grupo Lar. • Corporate Director of Grupo Lar

for over 13 years. • Previously Senior Auditor at

Deloitte. • Degree in Economics and

Business Studies from the Complutense University of Madrid.

Nicolás Barón Gomez

• Law degree from the Pontificia Javeriana University of Bogotá, specialising in Financial Legislation at the Universidad de los Andes. Over 15 years of experience in corporate, commercial, real estate and M&A matters. He served as National Legal Director of French Group Carrefour and before that as Legal Manager of IBM in Colombia.


COLOMBIA


80,594 m2

1,060 m2

974 units

15 units

116 MM€

1 MM€

116 MM€

1 MM€

81,654 m2 989 units 117 MM€ 117 MM€TOTAL


Residential

Shopping centres

Offices

Logistics

Land for sale

Completed buildings


Nº of Homes



Rental housing


4. Products


España ; 100%

Europa del Este; 2%

Francia ; 24%

Mexico; 16%

España; 48%

Diversification in Latin America

Portfolio managed in 2003: 8,211 units Portfolio managed in 2007: 22,739 units Portfolio managed at 31/12/2019: 14,844 units

2003

All product located in national territory

20072004

First investments in Mexico

Investment in France

2005 2006

Investment in Romania, Hungary, Germany and

Poland

2008-2013

• Divestment in France • Investment in Brazil • Start of operations in

Colombia and Peru

2019

RESIDENTIALThe evolution of the residential segment shows Grupo Lar's ability to adapt to changing market conditions

Spain:

Spain: 48%

Eastern Europe: 2%

France: 24%

Mexico: 16%

Peru: 33%

Spain: 100%

Spain: 8%

Brazil: 21%

Poland: 7%

Mexico: 25%

Colombia: 7%

RESIDENTIALExperience and know-how: Grupo Lar has sold almost 10,000 homes since the end of the crisis, with excellent annual sales figures of over 1,000 homes.

1.413

405 372503 553

783

1.323 1.289

1.5561.667 1.659

1.380

1.106

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Over 20 years of experience in investment, development and management of shopping centres. Internal model of shopping centre management: Over 20 years of

experience.

Proven track record in development, investment and management of shopping centres.

Providing management services to leading investment funds.

Development GentaliaInvestment and management

Grupo Lar has carried out joint investments with leading investors such as Goldman Sachs, Grosvenor, Sonae Sierra, Ivanhoe Cambridge, Henderson Global Investors and Grupo Eroski.

7 shopping centres:

• Developed and managed until completion: 4 shopping centres, 182,000 m2 of GLA and EUR 374 million investment.

• Divestment during development: 3 shopping centres, 151,000 m2 of GLA and 335 thousand EUR.

Volume of assets managed by Gentalia:

• 34 centres, 1,136,969 m2 of GLA, with rents of over EUR 108 million.

Current volume of managed portfolio:

• 18 shopping centres, 639,270 m2 of GLA worth EUR 1,594 million.

Historic investment volume:

• EUR 1,509 million and more than 976,626 m2 of GLA.

SHOPPING CENTRESExperts in Retail

http://www2.goldmansachs.com/

SHOPPING CENTRESHistoric portfolio

Grupo Lar has in the past acquired or developed and subsequently divested a portfolio of 22 shopping centres.

:developed by Grupo Lar

2002

• Garbera (Guipúzcoa) • Vallsur (Valladolid) • Albacenter (Albacete)

2004

• Urbil (Guipúzcoa)

2007

• Lorca (Murcia) • Cornellá (Barcelona)

2008

• Parque Principado (Asturias)

2009

• Ribera del Xuquer (Valencia)

2011

• Caudalia (Asturias) • El Mirador (Madrid) • Alzamora (Alicante)

2012

• Factory (Huelva)

2013

• Parque Ceuta (Ceuta) • Arcos de la Frontera (Cádiz) • L’Aljub (Alicante) • Navalmoral (Cáceres) • Puerto Llano (Ciudad Real) • Puente Genil (Córdoba) • Los Alcores (Sevilla) • Los Palacios (Sevilla)

2014

• Islazul (Madrid) • Management Contract

with LAR España Real Estate

2015

• Airesur (Sevilla)

At December 31st 2019, Grupo Lar had 18 shopping centres under its management, with a total investment value of EUR 1,594 million and 639,270 m2 of GLA

5

1015

12

3

4

567

8

9

10

11

12

13

14

15

(*) Portfolio distributed throughout the peninsula and the Balearic Islands

SHOPPING CENTRESPortfolio currently managed

Activo SBA (m2)Valor de mercado

(Millones €)1 Albacenter 26.352 642 Vistahermosa 33.763 512 Puerta Marítima Ondara 40.334 1263 MegaPark 82.341 2174 Anec Blau 28.905 1026 Txingudi 10.712 377 El Rosal 51.152 1118 As Termas (SC+ Gasolinera) 35.127 889 Madrid Sur 24.301 139 Getafe Sector 3 20.340 29 Rivas Futura 36.447 6810 La Rosaleda 15.528 2811 Las Huertas 6.267 1212 Lagoh 69.663 31213 Parque Abadia 43.109 8814 Vidanova Parc 45.568 5515 Gran Vía de Vigo 41.453 167(*) Portfolio Eroski 27.909 54

Total 639.270 1.594

Asset GLA (m2)Market value (millions €)

• Grupo Lar has carried out various office development projects and has managed and controlled the entire process from purchase to delivery, including the design, planning, commercialization and partial or total remodeling of the assets, and their subsequent repositioning in the market.

• To date, Grupo Lar has developed and managed 10 office buildings, with an area of over 140,000 m2. Among them are some of the most unique office buildings in Madrid and Barcelona.

OFFICESHistoric portfolio

• Some outstanding examples:

• Serrano 55 (Morgan Stanley headquarters). • Serrano 49 (RBS headquarters). • Edificio Crisalis (Amex headquarters). • Sarriá Forum (E&Y headquarters). • Castellana 280 (Repsol headquarters)

• Arturo Soria 336 • Cardenal Marcelo Spínola 42 • Edificio Egeo (Ineco headquarters) • Eloy Gonzalo 27 (Wework offices) • Joan Miró 21

Evolution of the portfolio

2006 2012 2017 2019

• Development of 10 logistics parks since 2003.

• Specialization in the industrial park concept.

• Small and medium-sized warehouses.

Experience in Logistics Parks

Experience in Logistics warehouses

• For strategic reasons, in 2018 Grupo Lar divested of the 5 logistics warehouses and land for logistics development that were all under its management (over 160,000 m2).

• In 2019, it once again invested in 3 l o g i s t i c s p r o j e c t s w i t h a t o t a l management volume of over 100,000 m2:

+274.654 m2

+68.000 m2

+205.000 m2

LOGISTICS

Over 250,000 m2 of logistics parks developed since 2003. The evolution of the portfolio shows Grupo Lar’s capacity to adapt to market changes.

Portfolio currently managed

• Since 2006, when industrial park activity peaked, exposure in the Spanish industrial segment has decreased in line with the market.

+100.000 m2

• Quart de Poblet, Valencia – 23,258 m2 • Masquefa, Barcelona – 20,000 m2 • Alcalá de Henares, Madrid – 59,661 m2


5. Appendices


• Grupo Lar is manager of the “Lagasca 99” development project, acquired in January 2015 through a joint venture between Lar España and PIMCO.

• This development is considered the most exclusive residential project in Madrid. Designed by Rafael de la Hoz.

• High demand due to lack of supply of luxury residential product in Madrid.

Centrally located in Madrid’s most exclusive neighbourhood (Barrio Salamanca).

Designed by one of Spain’s most prestigious architects.

Development of 44 luxury homes.

• The plan includes a total area of 26,203 m2, 19,453 m2 of which are dedicated to construction.

• The development involves some of the highest volume operations in the high-end residential market.

OUTSTANDING PROJECTSResidential Development: LAGASCA 99 - MADRID

• Panorama is a residential development consisting of a 22-storey 75-metre high building with 116 one, two and three-bedroom apartments, duplexes and lofts, including parking spaces and storage rooms.

• Panorama also includes 24 three and four-bedroom duplex and triplex homes, all with gardens and pool. The development has green areas, a gymnasium and swimming pools.

Residential development consisting of 116 homes.

Part of the residential area "Isla Chamartín".

Near the new financial centre of Madrid and the new urban development project "Operation Chamartin”.• Located in the new urban development

project "Isla Chamartín", an area in the north of Madrid adjacent to the four new towers and the new financial centre of Madrid.

OUTSTANDING PROJECTSResidential Development: PANORAMA - MADRID

• The "Polárea" development was acquired by Grupo Lar in December 2006 as an industrial site in the centre of one of the most desirable areas in Mexico City (Polanco).

• Since then, the aim has been to convert the industrial use into housing + offices + commercial premises, by means of a highly complex General Plan which was finally approved in the last quarter of 2008.

Acquired in 2006 as an industrial plot.

Development of over 4,400 residential units.

• The General Plan included 550,000 m2 of buildable area for 4,400 residential units and a commercial zone, plus 165,000 m2 of GLA for offices.

• 75% of the land was sold between 2009 and 2012.

• 1,010 units delivered before December 2019.

OUTSTANDING PROJECTSResidential Development: POLÁREA - MEXICO

• The "Nesta" development was acquired by Grupo Lar in conjunction with Cosapi Inmobiliaria in 2015 and is located opposite one of the central areas of Metropolitan Lima, the Campo de Marte.

• The project has become a reference point for its size and design due to its location in an area considered of monumental heritage by the Ministry of Culture.

Acquired in 2015.

Development with 43,063 m2 of buildable area.

This project is developed in conjunction with COSAPI INMOBLIARIA, the second largest construction company in Peru.

The project is financed by Banco de Crédito del Perú.

• The area of the site is 4,692m2 on which 488 residential units are planned, adding up to a total of 37,609 m2 for sale.

• 193 units had been delivered and 278 units sold by December 2019.

OUTSTANDING PROJECTSResidential Development: NESTA - PERU

• Project located in Jundiaí, a prosperous and expanding city, 50 km from São Paulo, with a population of 370,000.

• The development consists of 555 2, 3 and 4-bedroom multi-family homes, with spacious common areas and more than 15,000 m2 of exclusive "woodland".

Grupo Lar's first operation in Brazil: February 2011.

Development consisting of 555 homes distributed in 6 towers.

• Located in the district of Moisés, one of the most desirable areas in the city, near the main avenue and the highway connecting the city with São Paulo.

• Development aimed at a medium-high market segment with an average unit price of R$400,000 (approx. 115,000 EUR).

• All phases delivered.

OUTSTANDING PROJECTSResidential Development: FOREST - BRAZIL

• Project located in the Bielany district of Warsaw.

• The development consists of 580 multi-family 2, 3 and 4-bedroom homes distributed in 4 buildings. The project includes some commercial premises on the ground floor.

• All phases delivered.

Development of 580 homes distributed in 4 buildings.

All phases delivered.

• Strategically located in front of the metro entrance and close to the bus station.

• Targeted at the middle-class market segment.

OUTSTANDING PROJECTSResidential Development: BIELANY - POLAND

• In 2019, GRUPO LAR developed the Lagoh shopping centre in Seville, owned by Lar España. The shopping and leisure centre, which opened its doors on 27th September, has become the city’s flagship shopping space, with 200 retail outlets, almost full occupancy and 17 million of annual revenue.

• A unique shopping centre in Andalusia comprising over 100,000 metres of leisure and entertainment with an exclusive variety of shops and famous brands, as well as exciting leisure activities such as a climbing wall, a zip line and a surfing pool.

A benchmark in sustainability.

100,000 m2 of leisure and entertainment.

200 establishments.

Market value of 312 million euros at 31.12.2019.

6,000 m3 central lake.• Due to its excellent location 4 kilometers from the centre of

Seville, and its proximity to the surrounding towns, its main area of influence includes over 2.5 million inhabitants.

• In addition to investing in the development of the asset, Lar España invested 9.4 million euros to ensure seamless communications with the surrounding area and access to all its facilities, with walkways and footbridges for pedestrians and cyclists.

OUTSTANDING PROJECTSShopping centre: LAGOH - SEVILLA The new generation of retail. A unique leisure and entertainment offer.

• The asset is a benchmark in sustainability, with extensive plant coverage, a system for sourcing reliable and clean energy, a rainwater collection system, photovoltaic panels to supply electricity and geothermal energy. Furthermore, it is committed to boosting growth in the region and its economy.

• Islazul was developed by Grupo Lar in the south of Madrid. It was inaugurated in April 2008 and has become an emblematic retail space in the city. The shopping centre was designed to meet demand from middle-class customers.

• Previously owned by Grupo Lar and Ivanhoe Cambridge, the shopping centre was sold in October 2014 for EUR 232 million.

The second largest shopping centre in Madrid.

90,000 m2 of GLA and 4,200 parking spaces.

175 establishments.

Sold in October 2014 for EUR 232 million.• With Islazul, Grupo Lar has demonstrated its

capacity to develop new ideas and new concepts in a market with strong competition. Islazul was the first of a new generation of shopping centres in Madrid with a revolutionary ETFE* roof that provides natural light and a significant reduction in energy consumption.

• Islazul was one of the finalists of the ICSC awards in the category of newly developed "Large Shopping Centre", competing with four other shopping centres in Europe.

* Durable transparent Teflon® -like fluorocarbon material.

OUTSTANDING PROJECTSShopping centre: ISLAZUL - MADRID

• Current headquarters of Morgan Stanley in Madrid, with an area of 5,382 m2 and 100 parking spaces.

• Designed by the renowned architect Gabriel Allende, it has a sophisticated "Hi-Tech" design.

5,382 m2 and 100 parking spaces.

Hi-Tech Architecture.

“The best non-residential project in Madrid” (2001).

• In 2001, this building was awarded the prize for the "Best non-residential project in Madrid". It also won the "Premio a los Oficios" awarded by the municipality of Madrid.

OUTSTANDING PROJECTSOffices: SERRANO 55 - MADRID

• PAE Coslada I was Grupo Lar's first investment in the industrial segment.

• 13,000 m2 of buildable area, located in the industrial zone of Coslada, in the Corredor del Henares, near the capital. The plot is 5 minutes from the airport and has direct access to the A-2, M-30, M-40 and M-45 motorways.

Grupo Lar's first industrial project.

EUR 15 million in sales.

13,000 m2 of buildable area.

39 warehouses.

Delivered in May 2005.• This industrial project is an enclosed estate with wide streets, security entry, 4 parking spaces per warehouse, plus car parking for visitors and green areas. It consists of 39 industrial buildings with surface areas starting at 300 m2 (200 m2 of ground floor and 100 m2 of mezzanine).

• It was a commercial success and was delivered in May 2005.

OUTSTANDING PROJECTSIndustrial Estate: COSALADA I - MADRID

• Of all the strategic alliances undertaken by Grupo Lar, the joint venture with Grosvenor is one of the most relevant. Between 2000 and 2008, the JV was 50%, with a strategy focused on development, investment and project management of offices, shopping centres and business centres in Spain.

Alliance 2000–2008.

EUR 52 million profit after tax between 2002-2005.

Consolidation of relationships with leading multinational companies.

• Between 2002 and 2005, Lar Grosvenor achieved revenues of EUR 109 million and profits after tax of EUR 55 million.

• By virtue of this JV, Grupo Lar developed and managed 6 industrial estates, 6 office buildings (48,000 2 built) and 13 shopping centres (546,701 m2 of GLA) and consolidated relationships with leading multinational corporations.

ALLIANCES & JOINT VENTURES (JV)Lar Grosvenor

• Ivanhoe Cambridge: Development of Islazul shopping centre (90,000 m2 of GLA and EUR 192 million full cost attributed).

• Eroski: Development of 4 shopping centres with a total GLA of 145,000 m2.

• Vastned Retail: Purchase and management of Madrid Sur shopping centre (24,000 m2 of GLA).

• Acciona Inmobiliaria: Development of 2 shopping centres in Lorca and Cornellá (44,000 m2 and 54,500 m2 of GLA respectively).

• GreenOak: Agreement to set up an investment fund aimed mainly at shopping centres and offices in Spain.

ALLIANCES & JOINT VENTURES (JV)Shopping centres

• Sonae Inmobiliaria: Purchase and management of Parque Principado shopping centre in Oviedo, with a GLA of 75,500 m2.

• Whitehall: Investment funds managed by Goldman Sachs. Investment in 4 shopping centres, with a GLA of 109,193 m2 and 2 office buildings with a total area of 27,000 m2. The alliance lasted from 1998 to 2002.

• GE Capital: Carcaixent shopping centre with a GLA of 33,000 m2.

• Henderson: Investment and management of L'Aljub shopping centre in Alicante, with a total GLA of 46,000 m2.

• Rockspring: Option signed for the future development of a shopping centre in Sagunto (Valencia), 46,000 m2.

ALLIANCES & JOINT VENTURES (JV)Shopping centres

http://www2.goldmansachs.com/

• Over 3,850 homes developed under partnerships with developers and financial institutions in Spain.

• The business unit in Spain has formed alliances with various financial institutions and insurance companies.

• Some examples:

• Banco Sabadell: 14 projects and 1,560 homes.

• Bankia: 2 projects and 520 homes.

• AXA RE: 6 projects and 215 homes.

• Catalunya Caixa: 9 projects and 1,560 homes.

• Grupo Lar has also undertaken projects with other Spanish developers to create over 1,000 homes.

ALLIANCES & JOINT VENTURES (JV)Residential Spain

SpainMadrid C/ Rosario Pino 14-16 8ª Planta 28020 Madrid, Spain Tel.: +34 91 436 04 37 Fax: +34 91 564 8080

PolandWarsaw Pl. Ireneusza Gugulskiego 1, 02-661 Warsaw, Poland Tel: +48 22 523 6300 Fax: +48 22 629 2488

MexicoMexico City Montes Urales Nº 470 piso 1. Lomas de Chapultepec. Delegación Miguel Hidalgo, Mexico City C.P. 11000 Tel: +52 52 027871 Fax: +52 55 402294

BrazilSao Paulo Rua Iguatemi, nº 448. 1o. andar - Conj. 101 Itaim Bibi - São Paulo SP CEP - 01451-010 Tel: +55 11 51717900 Fax: +55 11 51717908

PeruLima Calle German Schreiber N° 205 Piso 3 Urbanización Santa Ana Distrito San Isidro, Lima, PeruTel +51 (1) 422 1845

CONTACT INFORMATION

grupo lar corporate presentation 2020 · carried out in 2015 and 2016. externally managed by grupo...

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