Cibanco Sa Ctf Bursatiles Fiduciarios Inmobiliario · OTC:CBAOF
Cibanco Sa Ctf Bursatiles Fiduciarios Inmobiliario — Terrafina — Merger or Acquisition (January 2017)
20 slides from Cibanco Sa Ctf Bursatiles Fiduciarios Inmobiliario's merger presentation, Jan 18, 2017
Slide 1: Portfolio Acquisition – Webcast Presentation
Portfolio Acquisition – Webcast Presentation January 18, 2017
Slide 2: Disclaimer
Disclaimer Terrafina (BMV:TERRA13) is a Mexican real estate investment trust formed primarily to acquire, develop, lease and manage industrial real estate properties in Mexico. Terrafina’s portfolio consists of attractive, strategically located warehouses and other light manufacturing properties thr
Slide 3: Transaction Rationale Portfolio A
Transaction Rationale Portfolio A Size Financial Improvements • Portfolio comprised of 45 industrial • Next 12 months cap rate of 7.6% properties • Annual NOI to increase in an estimated • 5.6 million square feet of Gross Leasable range of 20% to 22% Area (“GLA”) • AFFO will increase by approximatel
Slide 4: Portfolio Characteristics
Portfolio Characteristics Main Portfolio Features Portfolio Diversification by Market North 83% o 45 properties adding 5.6 million square feet of GLA located in Ciudad Juarez Bajio 17% Mexico’s most important industrial markets Hermosillo o Occupancy rate of 99.9%1 o US$5.112 per square foot average
Slide 5: Geographic Diversification by State
Geographic Diversification by State Geographic diversification as a percentage of GLA State Terrafina 3Q16 Portfolio Acquired Terrafina Proforma Aguascalientes 2.5% 0.0% 2.1% Baja California 3.7% 0.0% 3.2% Chihuahua 31.9% 70.8% 37.9% Coahuila 11.6% 0.0% 9.8% Mexico City 0.1% 0.0% 0.1% Durango 1.5% 5
Slide 6: Industry Diversification
Industry Diversification Industry diversification as a percentage of GLA Industry Terrafina 3Q16 Portfolio Acquired Terrafina Proforma Automotive 30.5% 18.9% 29.5% Industrial Goods 19.3% 19.2% 19.0% Consumer Goods 18.6% 8.8% 17.1% Logistics & Trade 9.9% 3.9% 8.6% Aerospace 9.6% 15.9% 10.5% Electroni
Slide 7: Terrafina Acquired Portfolio: Lease Expiration Schedule
Lease Expiration Schedule 12.0 msf GLA (million square feet ) 35% 40% 10.0 msf As a percentage of Annualized Base Rent (“ABR”) 30% 8.0 msf 21% 19% Terrafina 6.0 msf 15% 20% 10% 4.0 msf 10% 2.0 msf 3.2 4.1 5.6 5.9 9.5 0.0 msf 0% 2017 2018 2019 2020 2021 and thereafter 2.5 msf 40% 50% 2.0 msf 40% 1.5
Slide 8: Terrafina Acquired Portfolio: Top Tenants
Top 10 Tenants Diversified portfolio across industries with stable and resilient multinational tenants Terrafina Consumer Consumer Non Durable Non Durable Industrial Industrial Consumer Logistics Aerospace Automotive Goods Goods Goods Goods Goods Goods Goods Acquired Portfolio Productos Eléctricos D
Slide 9: Acquired Properties
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Slide 10: Acquired Properties
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Slide 11: Transaction Rationale Portfolio B
Transaction Rationale Portfolio B Size Financial Improvements • Portfolio comprised of 6 industrial properties • Next 12 months cap rate of 7.8% • 725 thousand square feet of Gross Leasable • Annual NOI to increase in an estimated Area (“GLA”) range of 2% to 4% • Transaction price US$41mm excluding
Slide 12: Portfolio Characteristics
Portfolio Characteristics Main Portfolio Features 3Q16 Proforma Diversification by Market o 6 properties adding 725,000 square feet of GLA located in San Luis Potosi and Guanajuato o Occupancy rate of 96.3%1 Terrafina o US$4.622 per square foot average rental rate o Diversified portfolio in the auto
Slide 13: Terrafina Acquired Portfolio: Lease Expiration Schedule
Lease Expiration Schedule 12.0 msf GLA (million square feet ) 35% 40% 10.0 msf As a percentage of Annualized Base Rent (“ABR”) 30% 8.0 msf 21% 19% Terrafina 6.0 msf 15% 20% 10% 4.0 msf 10% 2.0 msf 3.2 4.1 5.6 5.9 9.5 0.0 msf 0% 2017 2018 2019 2020 2021 and thereafter 0.4 msf 41% 50% 0.3 msf 30% 40%
Slide 14: Acquired Properties
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Slide 15: Main Financial Metrics of Portfolio A
Main Financial Metrics of Portolio A Key Proforma Financial Indicators Due to the operational and administrative efficiencies of Terrafina’s consolidated portfolio, a 21% NOI increase will translate into a 24% AFFO increase. Past performance is not a guarantee or a reliable indicator of future resul
Slide 16: Main Financial Metrics of Portfolio B
Main Financial Metrics of Portfolio B Key Proforma Financial Indicators Due to the operational and administrative efficiencies of Terrafina’s consolidated portfolio, a 2.4% NOI increase will translate into a 3.5% AFFO increase. Past performance is not a guarantee or a reliable indicator of future re
Slide 17: Consolidated Main Financial Metrics
Consolidated Main Financial Metrics Key Proforma Financial Indicators A 21% increase in the company’s GLA is expected to translate into an annualized proforma AFFO increase of around 28%. Past performance is not a guarantee or a reliable indicator of future results. 17
Slide 18: Appendix - Terrafina Proforma Highlights
Appendix - Terrafina Proforma Highlights Industry Diversification Key Performance Indicators Sector Terrafina Proforma Indicator Terrafina Proforma Automotive 29.7% Gross Leasable Area (msf) 36.4mm Industrial Goods 18.7% Leased Area (msf) 34.8mm Consumer Goods 16.8% Occupancy Rate 95.6% Logistics &
Slide 19: Appendix - Terrafina Proforma Highlights
Appendix - Terrafina Proforma Highlights Geographic Diversification by State State % de GLA Occupancy by State Aguascalientes 2.1% 100% Baja California 3.1% 100% Chihuahua 37.2% 98% Coahuila 9.6% 96% Distrito Federal 0.1% 100% Durango 2.1% 100% Estado de Mexico 14.4% 94% Guanajuato 3.9% 96% Jalisco
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