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


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


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


Opening year 2007

GLA 30.349

Hypermarket Conad

Number of shops 80

Number of floors 1



Anchor tenants Conad, Mediaworld, Bricofer, Globo, Terranova, Zara, Cisalfa



Opening year 2003

GLA 24.273

Hypermarket Esselunga

Number of shops 43

Number of floors 3



Anchor tenants Unieuro, MedStore, UCI Cinema, Virgin



Opening year 1993

GLA 44.578

Hypermarket Emisfero

Number of shops 104

Number of floors 2



Anchor tenants Conbipel, OVS, MediaWorld, H&M, Piazza Italia, Cisalfa, Zara



Opening year 2008

GLA 32.341

Hypermarket Carrefour

Number of shops 35

Number of floors 1



Anchor tenants Conbipel, Decathlon, GloboEuronics, Happy Casa, OVS



First floor Second floor

Third floor Fourth floor


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


First floor Second floor

Opening year 2019

GLA 30.643

Hypermarket -

Number of shops 98

Number of floors 2



Anchor tenants Cisalfa, Maison du Monde, Zara,Bershka, Pull&Bear, H&M, Zuiki, Mediaworld



+2 floor

+1 floor

Mezzanine floorUnderground floor


Opening year 2015

GLA 11.670

Hypermarket -

Number of shops 34

Number of floors 4

Number of parking slots 400


Anchor tenants H&M, Kasanova, Piazza Italia, KFC, Decathlon



Opening year 2009

GLA 35.886

Hypermarket Auchan

Number of shops 91

Number of floors 2



Anchor tenants Zara, H&M, Trony, Bata, OVS



Opening year 2019

GLA 43.500

Hypermarket Conad

Number of shops 63

Number of floors 1



Anchor tenants H&M, Leroy Merlin, Globo, Centro Convenienza, Zuiki,Happy Casa


Top Management

Finance Asset management Technical dept. Digital dept.

FREM Organization Layout

Development dept.

FREM value-add strategy


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


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


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




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




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




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




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


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


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


active asset management · 2019-09-03 · frem results portfolio structure & services asset...

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