AEW Global Focused Real Estate Fund Class C · NASDAQ:NRCFX
AEW Global Focused Real Estate Fund Class C — AEW — Investor Presentation (February 2021)
45 slides from AEW Global Focused Real Estate Fund Class C's investor presentation, Feb 11, 2021
Slide 1: 7th New Data in Real Estate Lab
7th NEW DATA IN REAL ESTATE LAB 11th February 2021
Slide 2: AEW Global
AEW GLOBAL Over 30 years’ real estate investment management experience One of the largest real estate investment managers in the world with €80.9bn in assets $38.5bn €32.8bn under management $38.1bn AUM €32.5bn Over 700 staff located in 16 AUM offices across North America, Europe and Asia Paci
Slide 3: AEW Research & Strategy
AEW RESEARCH & STRATEGY Experienced global research team of 14 analysts focused on forward looking market views Interpret economic and capital market trends to formulate actionable advice for our clients and fund managers Integrated at every level of decision-making process In-house forecast
Slide 4: New Data in Real Estate Lab
NEW DATA IN REAL ESTATE LAB Experts sharing ideas on innovative new data sources, methods and systems hosted by AEW since 2018. Attended by investors, academics, leading brokers, data services, starts-ups and consultants. Interactive forum and welcoming questions from attendees after each pres
Slide 5: Presenters
PRESENTERS 10:00 – 10:30 CET 10:30 – 11:00 CET 11:00 – 11:30 CET French & German senior Supply and demand in the European logistics European valuation analytics housing market trends space dashboard Julia Momotiuk Huib Vaessen Kevin van der Wees Phil Tily Senior Research Manager Head of Research & A
Slide 6: Q&A
Q&A Please feel free to ask our presenters questions, they will answer these at the end of their sessions To ask a question, find the Q&A button the right hand side on your screen and type your question We will share these with the presenter after each session AEW NEW DATA IN REAL ESTATE LAB /
Slide 7: French & German Senior Housing Market Trends
New Data in Real Estate Lab FRENCH & GERMAN SENIOR HOUSING MARKET TRENDS AEW European Research Webinar Presented by: Julia Momotiuk Senior Research Manager, BONARD
Slide 8: French & German Market Reports
FRENCH & GERMAN MARKET REPORTS 2 • Comprehensive study into the French & German senior living market • Analyses and confirms growing demand and a lack of supply. • Up-to-date insight into senior living in France & Germany, at the national level with a closer look at the top 20 locations across count
Slide 9: Key Findings | France
KEY FINDINGS | FRANCE 3 The senior population in France is growing: Private residences are mainly located the 60+ group will increase by more than in suburbs, due to the land scarcity and rise in 7% over the next five years value caused by competition 8,000 establishments for dependent people As reg
Slide 10: Key Findings | Germany
KEY FINDINGS | GERMANY 4 The share of seniors aged 60+ in Germany Increased development of residences outside will increase from 28% in 2019 to 31% in the largest cities due to the availability of 2025 cheaper land and a completely unmet demand There are more than 370 senior living There are almost
Slide 11: Demographic Overview
DEMOGRAPHIC OVERVIEW 5 SHARE OF PEOPLE AGED 65+ WITHIN THE TOTAL POPULATION EU POPULATION FORECAST 23% 22% 22% 22% 21% 21% 2016 2070 20% 20% 20% 20% 20% 20% 19% 19% 19% 19% 19% 19% 19% 19% 18% 18% 18% 17% 520,300,000 16% 16% 510,900,000 14% 14% 332,922,000 292,235,000 Total population Working age po
Slide 12: Typology of Senior Living Establishments in France
TYPOLOGY OF SENIOR LIVING ESTABLISHMENTS IN FRANCE 6 1. Senior living establishments for dependent people: • Retirement homes; EHPA (Etablissement d’Hébergement pour Personnes Âgées) • Nursing homes for dependent people aged 60+; EHPAD • Hospital structures for very dependent people aged 60+ whose c
Slide 13: Typology of Senior Living Establishments in Germany
TYPOLOGY OF SENIOR LIVING ESTABLISHMENTS IN GERMANY 7 1. Senior living establishments for dependent people: • Ambulant betreute Wohngemeinschaften (assisted living communities); • Pflegeheim (nursing homes). • Regulated by authorities 2. Assisted senior living establishments: • Service-Wohnen oder B
Slide 14: Market Supply | France
MARKET SUPPLY | FRANCE 8 NUMBER OF PRIVATE COMMERCIAL SERVICE RESIDENCES BY MAIN PROVIDER Domitys 113 • In France, there are nearly 8,000 establishments for dependent people with Seniorales 75 an overall capacity of over 640,000 beds. Les Girandières (Réside Etudes Seniors 53 SAS) Les Villages d’Or
Slide 15: Market Supply | Germany
MARKET SUPPLY | GERMANY 9 NUMBER OF PRIVATE COMMERCIAL SERVICE RESIDENCES BY MAIN PROVIDER Korian Gruppe 135 • Approx. 65% of assisted living residences are operated by non-profit companies Alloheim Senioren-Residenzen 95 • 30% are under the management of private companies Johanniter Seniorenhäuser
Slide 16: Case Study | Germany
CASE STUDY | GERMANY 10 GEOGRAPHICAL DISTRIBUTION OF ASSISTED LIVING ESTABLISHMENTS SOURCE: BONARD, 2020 French & German Senior Living 2021
Slide 17: Product Concept
PRODUCT CONCEPT 11 SHARE OF PRIVATE COMMERCIAL SERVICE RESIDENCES OFFERING THE FOLLOWING FACILITIES GERMANY 94% 90% 89% FRANCE 87% 85% 81% 78% 71% 70% 71% 69% 69% 65% 57% 57% 54% 54% 51% 48% 47% 45% 37% 36% 31% 28% 27% 21% 22% 15% 15% 13% 11% 10% 9% 9% 12% 7% 7% 6% 4% 1% 7% 6% 6% SOURCE: BONARD, 202
Slide 18: Product Concept
PRODUCT CONCEPT 12 IMAGES ARE THE COURTESY OF: Kursana, 2020; Korian, 2020; CBT, 2020; Alloheim, 2020, Domitys, 2020; Les Girandières 2020; Senioriales, 2020; Les Jardins d'Arcadie, 2020; Heurus, 2020 French & German Senior Living 2021
Slide 19: Benchmarking | Germany vs France
BENCHMARKING | GERMANY VS FRANCE 13 TOP 20 CITIES: NUMBER OF APARTMENTS TOP 20 CITIES: PROVISION RATE (ASSISTED LIVING ESTABLISHMENTS) (ASSISTED LIVING ESTABLISHMENTS) France Germany France Germany 64,844 4.0% 3.9% 26,231 21,700 1.3% 1.1% 7,343 Total Private commercial Total Private commercial SOURC
Slide 20: Benchmarking | Avg Monthly Rent and Pipeline
BENCHMARKING | AVG MONTHLY RENT AND PIPELINE 14 TOP 20 CITIES: AVERAGE MONTHLY RENT NUMBER OF APARTMENTS IN THE PIPELINE France Germany France Germany 16,370 € 1,917 14,633 € 1,580 € 1,442 € 1,286 € 1,283 € 1,090 3,798 3,142 Studio 1-bed room apartment 2-bed room apartment Total Top 20 cities SOURCE
Slide 21: Conclusions
CONCLUSIONS 15 • The senior living market in France & Germany has experienced • The research has identified 433 assisted living establishments considerable growth over the last years due to a rapidly and in the top 20 cities, with a total capacity of over 26,231 continuously aging population and a s
Slide 22: Coming Soon: UK
COMING SOON 16 UK 2021 French & German Senior Living 2021
Slide 23: About BONARD
ABOUT BONARD 17 BONARD is a market intelligence and strategic development firm specialising in alternative asset classes. We leverage our global knowledge and local connections to help our clients grow in this vibrant market. OUR OUR TEAM CLIENTS 4 40 367 Offices Specialists Projects French & German
Slide 24: Contact
CONTACT For questions or comments, please contact: [email protected] DISCLAIMER: Please note that this presentation is covered by copyright and their redistribution, publicity and commercial use is not allowed without a prior written consent.
Slide 25: Data-driven Rental Growth Projections for Logistics
Data-driven Rental Growth Projections for Logistics AEW New Data in Real Estate lab Kevin van der Wees & Huib Vaessen 11 / 02 / 2021 | Start
Slide 26: Introduction APG
Introduction APG One of the largest Real Estate investors in the world | 2
Slide 27: Pan European Data Set Independent Real Estate Advisory Services
Pan European Data Set Independent Real Estate Advisory Services AEW – Real Estate Data Lab Phil Tily – Altus Group, Head Data Analytics
Slide 28: Agenda
Agenda Altus overview Objectives of the valuation database Unpack the change in values based on US data Comparative analysis Demonstration of European valuation data Interface 2 altusgroup.com
Slide 29: Altus Group – Global Footprint
Altus Group – Global Footprint 3 altusgroup.com
Slide 30: Objectives of a Pan European Valuation Dataset
Objectives of a Pan European Valuation Dataset WHAT WHY Creating a Pan-European Transparency, Global Valuation Data Set Consistency, Speed of Online Reporting Interface 1 2 Reporting, Best Practices, Valuation Quality & Accuracy Core Idea 4 3 WHEN HOW Provisional timing 2021 Participation of Leading
Slide 31: Pan-European Valuation Data Set
Pan-European Valuation Data Set Pan-European Valuation Data Set Potential Participants AEW Fidelity Investments AXA Hines Barings INVESCO Blackrock Lasalle Investment Management Blackstone M&G Brookfield Morgan Stanley CBRE GI Nuveen Clarion Partners Patrizia DWS Standard Aberdeen 5 altusgroup.com
Slide 32: Valuation Separated From Performance
Valuation Separated From Performance No ambitions in producing a performance index… Altus Managed Services Valuation data collection, review & validation through 1 valuation management services Altus Group Altus Group Quantify valuation components 2 Unpack which metrics have impacted on change in va
Slide 33: Unpack the Change in Valuations
Unpack the Change in Valuations
Slide 34: Income and appreciation – US ODCE
Income and appreciation – US ODCE altusgroup.com
Slide 35: Income and appreciation – US ODCE
Income and appreciation – US ODCE altusgroup.com
Slide 36: Income and appreciation – US ODCE
Income and appreciation – US ODCE Apartment Industrial 4.0% 4.0% 3.0% 3.0% 2.0% 2.0% 1.0% 1.0% 0.0% 0.0% -1.0% -1.0% -2.0% -2.0% -3.0% -3.0% -4.0% -4.0% -5.0% -5.0% -6.0% -6.0% Office Retail 4.0% 4.0% 3.0% 3.0% 2.0% 2.0% 1.0% 1.0% 0.0% 0.0% -1.0% -1.0% -2.0% -2.0% -3.0% -3.0% -4.0% -4.0% -5.0% -5.0%
Slide 37: Income and appreciation – US ODCE
Income and appreciation – US ODCE Cash Flow Effect Occupancy Contract Rent Market Rent Market Rent Growth Operating Expense Ratio Credit Loss Capital Expense Ratio Industrial Other Total Apartment Office Retail -8.00%-6.00%-4.00%-2.00% 0.00% 2.00% 4.00% 6.00% 8.00% -6.00% -4.00% -2.00% 0.00% 2.00% 4
Slide 38: Online Appraisal Scorecard – Boston Retails
Online Appraisal Scorecard – Boston Retails 12 altusgroup.com
Slide 39: Pan European Valuation Dashboard
Pan European Valuation Dashboard Interactive Online Portfolio Interface
Slide 40: Valuation Dashboard – Demo All Property
Valuation Dashboard – Demo All Property altusgroup.com
Slide 41: Valuation Dashboard – Demo Logistics
Valuation Dashboard – Demo Logistics altusgroup.com
Slide 42: Valuation Dashboard – Demo German Logistics
Valuation Dashboard – Demo German Logistics altusgroup.com
Slide 43: Valuation Dashboard – Demo Single Asset
Valuation Dashboard – Demo Single Asset altusgroup.com
Slide 44: Next Steps
rN AltusGroup Next Steps
Slide 45: Provisional Timing & Next Steps – Proof of concept
Provisional Timing & Next Steps – Proof of concept Engagement Onboarding Reporting Consultation Historical Collection & Validation Q3-Q4 2020 Q1 2021 Valuation update Data Aggregation Analytics & Reporting 2020 Dec 31 Mar 1 July 31 Oct 30 Dec 31 2021 19 altusgroup.com