REITs and the listed sector providing a boost for CEE markets? - - PowerPoint PPT Presentation

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Mar 29, 2023 116 likes •257 views

REITs and the listed sector providing a boost for CEE markets? Tobias Steinmann, Director Public Affairs W a r s a w, 8 N o v e m b e r 2 0 1 8 1 EPRAs mission = to promote, develop, and represent the European listed real estate

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REITs and the listed sector – providing a boost for CEE markets?

Tobias Steinmann, Director Public Affairs

W a r s a w, 8 N o v e m b e r 2 0 1 8

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EPRA’s mission = to promote, develop, and represent the European listed real estate sector

*Investment Companies, Insurance Companies/Funds, Banks & Stockbrokers

EPRA members No. % Property Companies & REITS 153 57 Investors* 63 24 Academics 24 9 Consultants & others 27 10 Total 267 100

Representing > €450 Billion

f real estate assets

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An investment offering a large diversification

104 companies with over 12,000 assets and portfolios in 20 countries across 9 sectors

Sources: EPRA, SNL Financial

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EPRA Developed Europe Index

Country Companies Market Cap (€ Bln) % of Index Germany 13 70.9 25.0% United Kingdom 40 68.3 24.1% France 6 37.7 13.3% Netherlands 5 29.2 10.3% Sweden 14 28.0 9.9% Switzerland 4 13.2 4.7% Belgium 9 10.8 3.8% Spain 3 10.7 3.8% Finland 3 4.7 1.7% Austria 1 2.9 1.0% Ireland, Italy, Norway 6 7.5 2.6% Total Developed Europe 104 284.0 100.0%

Full market cap data as at August 31, 2018 Unibail-Rodamco-Westfield has been classified under the Netherlands

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Developed Global market cap breakdown REIT/Non-REIT

20.58% 79.42% FTSE EPRA/NAREIT Developed Non-REITs FTSE EPRA/NAREIT Developed REITs

Source: EPRA Monthly Statistical Bulletin Data as of: December 29, 2017

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Developed Europe market cap breakdown REIT/Non-REIT

42.53% 57.47% FTSE EPRA/NAREIT Developed Europe Non-REITs FTSE EPRA NAREIT Developed Europe REITs

Source: EPRA Monthly Statistical Bulletin Data as of: December 29, 2017

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Countries within the EU with a REIT regime

France

2003

Germany

2007

Italy

2007

Belgium

1995

Bulgaria

2004

Finland

2009

Greece

1999

Hungary

2011

Ireland

2013

Lithuania

2008

The Netherlands

1969

Spain

2009 Sources: EPRA Global REIT Survey

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Spanish SOCIMIs: the revival of listed RE in 2014

EUR 400 Mln IPO EUR 550 Mln IPO Inception EPRA Spain Index EUR 1.3 Bln Rights Issue EUR 1.3 Bln IPO & Fast-track inclusion in EPRA Spain Index EUR 360 Mln IPO € 0.0 € 0.5

€ 1.0 € 1.5 € 2.0 € 2.5 € 3.0 € 3.5 € 4.0 € 4.5 € 5.0 February-14 March-14 April-14 May-14 June-14 July-14

Combined Market Cap Spanish SOCIMIs in EUR Billion

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E U R O P E A N L I S T E D R E A L E S T A T E O F F E R S S T R O N G L O N G T E R M P E R F O R M A N C E

15-year annualised total return in local currency

Europe listed real estate Europe government bonds Europe general equities 1 year 9.0% 1.7% 6.4% 3 year 3.5% 1.8% 5.4% 5 year 11.4% 3.8% 8.9% 10 year 5.9% 5.3% 5.0% 15 year 9.2% 4.6% 7.9% 20 year 7.7% 5.1% 4.8%

4.9% 1.7%

Data as of: June 29, 2018 Sources: ECB, FTSE, EPRA, Nareit

1.6% 7.9% 4.6% 9.2%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% Europe Inflation Europe equities Europe bonds Europe listed real estate

Strong Long Term Performance

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E U R O P E A N L I S T E D R E A L E S T A T E O F F E R S A T T R A C T I V E D I V I D E N D Y I E L D

5-year Average Yield

2.1%

Sources: ECB, FTSE, EPRA, Nareit Data as of: June 29, 2018

0.1% 1.9% 2.0% 3.6% 3.4% 3.9%

0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% ECB Refinancing rate FTSE Government Bonds >10 year Europe FTSE Corporate Bonds >10 year Europe FTSE All World Europe FTSE EPRA/NAREIT Developed Europe Index FTSE EPRA/NAREIT Developed Europe REITS Index

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ICB – Real Estate 11th sector

Previous sector structure

Financials Banks Insurance Real Estate Financial services Financials Banks Diversified Financials Insurance Real Estate

New structure effective January 1, 2019

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Key takeaways

European REITs/listed real estate demonstrate strong long-term performance They are a transformative force for countries and cities and contribute to their development They offer access to a large palette of investment strategies and a large number of high- quality assets and sectors while offering higher liquidity There is huge potential to grow the investor base and the sector

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Contact

General enquiries: info@epra.com Switchboard: +32 0 2739 1010 Find more information on www.epra.com HEAD OFFICE

Square de Meeûs 23 1000 Brussels, BE

UK OFFICE

Devonshire House, One Mayfair Place London W1J 8AJ, UK

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ffice is at Square De Meeus23, 1000 Brussels, Belgium. This presentation is intended solely for the addressee and may contain confidential information. Do not use, copy or disclose the information

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