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  • Terreis - Press releases
    end of September Terreïs had already invested 275m in new real estate and an additional 70m of new investment opportunities were acquired during the 4th quarter These acquisitions mainly relate to two assets located in Paris The first asset Ilot Sébastopol has a surface area of 9 693m and is located at 31 39 boulevard de Sébastopol in the 1st arrondissement at the corner of rues Berger Saint Denis and boulevard Sébastopol This property bought for 64 8m is composed of 3 597m of commercial premises Séphora Saint Maclou KFC and Café Rive Droite among others acquired on the basis of a 6 rate of return and 6 093m of offices with a return of 6 6 of which 4 480m rented to Sytcom City of Paris on a fixed term lease until 31 December 2020 The second asset relates to joint ownership units commercial and offices located at 14 rue des Capucines in the 2 nd arrondissement acquired for 3 6m on the basis of a return of 6 The total 2011 acquisitions will generate over a full year a return after development of 6 64 representing an additional rental income of 23m Of this 345m of acquisitions 76 5 are in the Paris central business district or close to the CBD 23 2 are in the Parisian inner suburbs 0 3 are located in the provinces La Rochelle and Toulouse Two assets 16 rue Volney and 51 rue d Anjou were acquired when vacant for 38 1m and renovated at a cost of approximately 3 1m The renovation is due to be completed in March 2012 2011 disposals 33 8m TERREÏS has been continuing to expand its portfolio by gradually disposing of its residential assets Since the beginning of 2011 sales have accounted for 33 8m generating capital

    Original URL path: http://www.terreis.fr/en/?option=com_actusnewswire&view=communiques&Itemid=189&lang=en&act_page1=ok&act_page2=ok&act_page3=ok&LANG=EN&langue=EN&RefACT=ACTUS-0-242&ACT_Type1=2&ID=ACTUS-0-26476&CLIENT=ACTUS-0-242 (2014-03-04)
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  • Terreis - Press releases
    557 561 1 Residential 4 618 1 107 317 1 522 363 319 Other 152 49 ns 71 16 ns Total 29 145 14 850 96 10 882 5 510 97 Continuing to concentrate the portfolio on commercial sector properties in Paris Since the beginning of the year Terreïs has purchased new assets for 275 million including property valued at 194 million in or close to Paris central business district and 80 million in the inner belt These purchases will achieve a yield of 6 77 over a full year Against this backdrop Terreïs has made its largest purchase since it was founded with the addition to its property portfolio of the building located at 14 16 boulevard Poissonnière in Paris in the 9th arrondissement at a price of 112 million and with an area available for rental of 21 222m These assets comprise 4 leased shops and 18 tenanted offices BNP is the main occupant under a secured lease until 2017 and accounts for 70 of the total office rentals Terreïs is also continuing to concentrate its portfolio in commercial sector properties by selling its residential assets as the opportunities arise Accordingly since the beginning of the year promises to sell valued at 35 million have been signed at an average price of 9 200 m Confirmation of the outlook In this context Terreïs has confirmed the targets previously announced namely A property portfolio valued at 1 billion This target should be reached by the end of the year in other words more quickly than was announced initially A gradual change to its property portfolio focusing on high quality commercial sector property in Paris Rental income of over 40 5 million in 2011 with potential income for the full year of 56 million on the basis of our current

    Original URL path: http://www.terreis.fr/en/?option=com_actusnewswire&view=communiques&Itemid=189&lang=en&act_page1=ok&act_page2=ok&act_page3=ok&LANG=EN&langue=EN&RefACT=ACTUS-0-242&ACT_Type1=2&ID=ACTUS-0-25514&CLIENT=ACTUS-0-242 (2014-03-04)
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  • Terreis - Press releases
    with its development strategy In line with the strategic focusing of its portfolio on commercial sector properties TERREÏS achieved residential assets disposals for an amount of 8 1 million leading to capital gains of 5 1 million Operating income after allowing for capital gains on disposals of residential assets amounted to 13 99 million After deduction of net financial results for an amount of 6 34 million net income stood at 7 46 million Cash flow excluding disposals was 9 4 million for the 1st half of 2011 i e double that for the 1st half of 2010 Including disposals cash flow was 14 35 million Based on the number of shares post merger and the capital increase the cash flow per share was 0 37 share It was set at 0 57 share after including gains from disposals Maintaining a sound balance sheet On 30 June 2011 Terreïs consolidated equity was 208 5 million and net financial debt 246 1 million Based on valuations made by BNP Real Estate s experts on 31 December 2010 and investments made or promised at the end of August and valued at cost the Group s property portfolio is valued at 930 million at the end of August 2011 Interim dividend of 0 27 per share to be paid on 30 September 2011 Terreïs has adopted the practice of paying its dividend in two instalments an interim dividend and the balance in May In light of the results for the 1st half of 2011 and the outlook for the full year Terreïs Board of Directors has decided to set the interim dividend for 2011 at 0 27 per share up 17 4 on that distributed last year This interim dividend will be paid on 30 September 2011 Confirmation of the outlook for 2011

    Original URL path: http://www.terreis.fr/en/?option=com_actusnewswire&view=communiques&Itemid=189&lang=en&act_page1=ok&act_page2=ok&act_page3=ok&LANG=EN&langue=EN&RefACT=ACTUS-0-242&ACT_Type1=2&ID=ACTUS-0-24993&CLIENT=ACTUS-0-242 (2014-03-04)
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  • Terreis - Press releases
    6 77 Since the start of the year Terreïs has acquired commercial assets valued at 274 8 million of which 126 2 million completed and 148 6 million under promises at the end of July 2011 These assets are spread geographically as follows 194 3 million of assets in the Paris QCA central business district or close to the CBD The assets acquired or pending acquisition are located in the central business district or in its immediate vicinity in the 8th 116 rue de la Boétie 11 rue Roquépine and 4 rue Cambacérès 51 rue d Anjou in the 2 nd 14 and 16 rue Volney in the 9th 14 and 16 rue Poissonnière 22 rue Cadet and in the 6th 7 rue de l Ancienne Comédie arrondissement s Two of these assets Volney and Anjou were acquired with vacant possession in order to achieve an attractive price per square metre They will be marketed in Q4 2011 79 5 million of assets in the inner belt at the city gates of Paris These are 4 properties 6 rue Denis Papin at Asnières 17 19 place de la Résistance at Issy les Moulineaux 60 quai Auguste Deshaies at Ivry sur Seine Cité Jardin at Plessis Robinson 1 0 million of assets in the provinces These are 3 shops in La Rochelle and Toulouse with FONCIA as the tenant Made on the basis of an attractive price of 6 770 m in Paris and 3 335 m in the inner belt all these acquisitions completed or pending completion will generate an immediate yield of 6 77 on a full year basis once the two vacant assets are relet Concentration of the portfolio on the commercial assets in line with liberalisation of residential premises 26 million of residential assets have already been

    Original URL path: http://www.terreis.fr/en/?option=com_actusnewswire&view=communiques&Itemid=189&lang=en&act_page1=ok&act_page2=ok&act_page3=ok&LANG=EN&langue=EN&RefACT=ACTUS-0-242&ACT_Type1=2&ID=ACTUS-0-24607&CLIENT=ACTUS-0-242 (2014-03-04)
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  • Terreis - Press releases
    residential assets in order to sell them Rent in thousands Q1 2011 2010 Change Offices 5 290 2 509 111 Retail 1 576 1 265 25 Mixed offices retail 552 557 1 Residential 1 490 378 294 Other 38 14 177 Total 8 947 4 723 89 Rent net of operating maintenance and repair costs including those under Article 606 Stream of transactions conducted in the quarter in line with the target of an asset base worth 1 billion comprised more than 90 by tertiary properties From the beginning of the year TERREÏS has bought new assets for an amount of 83 6 million 34 8 million were completed in the first quarter most of which related to two buildings located in rue Cambacérès and rue Roquépine Paris VIII 48 8 million are under promise In addition to the buildings already announced at the time of the results presentation on 23 March TERREÏS has initiated the purchase of a new offices building in Issy les Moulineaux with total area of 10 200 m These commitments should see additions to the group s asset base during the first half year Taken as a whole these acquisitions whether completed or under way will lead to an instant yield of 6 80 across the full year They will be financed by using available cash and bank loans currently being negotiated In addition as part of a strategy of focusing on commercial properties TERREÏS signed in the first quarter memoranda for the disposal of Parisian residential assets totalling 17 million at a medium price of 9 069 per square meter Based therefore on purchase agreements either concluded or under way today the asset base of TERREÏS is worth 740 million in line with the target asset base of 1 billion set at the time

    Original URL path: http://www.terreis.fr/en/?option=com_actusnewswire&view=communiques&Itemid=189&lang=en&act_page1=ok&act_page2=ok&act_page3=ok&LANG=EN&langue=EN&RefACT=ACTUS-0-242&ACT_Type1=2&ID=ACTUS-0-23340&CLIENT=ACTUS-0-242 (2014-03-04)
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  • Terreis - Press releases
    because funds were borrowed for the acquisitions made An asset base which increased from 293 million to 673 million 130 driven by acquisitions revaluations and the integration of Avenir Investissement At 31 December 2010 an expert opinion set the value of the asset base at 458 million up by 56 compared with end 2009 The total spend on investments in 2010 was 142 million with an expected total yield of 6 5 Once the 214 million of assets contributed by Avenir Investissement at the beginning of 2011 was taken into account TERREÏS portfolio was valued at 673 million at the end of 2010 by the experts from BNP Real Estate Therefore in two years the value of TERREÏS assets has been multiplied by 4 5 It should also be noted that the experts revalued the group s property upwards by 9 in 2010 These expert reports take a figure of 6 180 square meter for residential assets located fundamentally in the west of Paris and a yield of 6 60 for all the offices and retail assets owned The net asset value on a liquidation basis was 18 28 per share up by 23 compared with 2009 On a replacement value basis it was 21 83 per share up by 29 compared with 2009 On a post merger basis the NAV was 18 81 per share liquidation and 21 28 per share replacement Margins for financial manoeuvre appreciably rebuilt At the end of December 2010 the consolidated equity was 72 3 million After the merger with Avenir Investissement and the inclusion of the 96 3 million capital increase made on 18 February last TERREÏS equity was 174 million Knowing that the investments made in 2010 were fundamentally funded from money borrowed from the banks TERREÏS net indebtedness after the merger with Avenir Investissement and after the capital increase was 203 million All these loans were at fixed or swapped variable rates for an average weighted cost of 4 29 Their weighted average term to maturity is 12 years More than 80 of the loans are repayable with the annual repayments scheduled over a long period The Loan to Value ratio ratio of the net financial debt to asset value was therefore 30 post transactions TERREÏS therefore now has appreciably reconstituted margins for manoeuvre which will enable it to pursue its strategy of opportunistic and controlled growth Outlook for 2011 maintenance of a opportunistic and controlled growth dynamic in a commercial market which remains favourably positioned At the beginning of this year the investment market in offices and retail premises was still weighted in favour of buyers The differential between the asset yields and the cost of loans has been held at a level that is still attractive On the other hand the residential property market in Paris is still highlighted by a scarcity of property available for sale in particular high quality apartment blocks in sought after districts This is why selling prices should remain structurally at a high level

    Original URL path: http://www.terreis.fr/en/?option=com_actusnewswire&view=communiques&Itemid=189&lang=en&act_page1=ok&act_page2=ok&act_page3=ok&LANG=EN&langue=EN&RefACT=ACTUS-0-242&ACT_Type1=2&ID=ACTUS-0-23037&CLIENT=ACTUS-0-242 (2014-03-04)
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  • Terreis - Press releases
    2 6 It is in clear improvement compared to the same period last year This performance is mainly driven by the improvement of the financial occupancy rate which stands at 98 7 on the whole year versus 98 2 at the end of September 2010 II A total of 224 million committed in investments in 2010 While at the end of September TERREÏS had already committed 147 million for the acquisition of new real estate assets the 4 th quarter allowed to seize further new opportunities of premium investment for 77 million These acquisitions are mainly Two buildings of 4 000 square meters located rue Cambacérès and rue Roquépine VIII th Arr of Paris and rented to several high quality tenants This acquisition has been acted on 13 January 2011 One building under offer of 13 155 square meters situated in Ivry sur Seine close to Paris city and rented to the Jussieu University for a 5 year contract These assets will generate an overall immediate yield of 7 6 on a full year basis All in all TERREÏS will have bought 140 million out of the 224 million commitments at the end of 2010 All these acquisitions will generate an immediate yield of 7 04 on a full year basis III Merger of DAB Expansion and Avenir Investissement completed on 10 January 2011 In order to gather within TERREÏS all the real estate assets held by Ovalto Investissement and to make it its privileged vehicle of real estate investment Jacky Lorenzetti has decided to merge the DAB Expansion Group and its subsidiary Avenir et Investissement within TERREÏS cf December 6th press release The Shareholders General Meetings of the different companies approved this transaction on 10 January 2011 with the following implications 209 7 million of real estate assets integrated into the portfolio of TERREÏS consisting of 16 Haussmann buildings located in the best districts of Western Paris and three office buildings A capital increase against contribution in king resulting into the issue of 8 87 million new TERREÏS shares and increasing the outstanding share capital to 16 7 million shares The combined stake of Jacky Lorenzetti and Ovalto Investissement in the new Group at the level of 72 5 IV Capital increase of approximately 100 million considered in the near term Subject to the approval of the Autorité des Marchés Financiers TERREÏS is considering a capital increase of approximately 100 million in the near term in order to Finance the current and the future investments of TERREÏS Reaffirm the stock market status through a significant increase of the free float and the stock liquidity V Outlook Considering the last acquisitions and the merger transaction TERREÏS begins the 2011 year with a portfolio estimated at 737 million 1 Thanks to the next equity raising transaction TERREÏS expects to reach rapidly a portfolio of 1 billion mainly consisting of commercial buildings Achieving this target implies a more active period assets rotation in particular regarding residential buildings as well as identifying commercial

    Original URL path: http://www.terreis.fr/en/?option=com_actusnewswire&view=communiques&Itemid=189&lang=en&act_page1=ok&act_page2=ok&act_page3=ok&LANG=EN&langue=EN&RefACT=ACTUS-0-242&ACT_Type1=2&ID=ACTUS-0-22439&CLIENT=ACTUS-0-242 (2014-03-04)
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  • Terreis - Press releases
    273 ns 363 160 ns Other 49 25 ns 16 10 ns Total 14 850 9 136 62 5 5 510 3 380 63 0 Rent excluding operating maintenance and repair costs including major repairs covered by Art 606 of the French civil Code Q3 2010 had a similar dynamic to Q3 2009 with growth in rental income restated to exclude the impact of acquisitions over the past twelve months of 0 4 This performance is also due to the financial occupancy rate which at the end of September 2010 remained high at 98 2 II New investment opportunities seized during this quarter TERREÏS took advantage this quarter of new investment opportunities for an amount of 92m taking total spending commitments since January to 147 million The main opportunities this quarter were two office buildings in Avenue George V 8th arrondissement and Rue de la Paix 1st arrondissement in central Paris by acquiring the holding company which owns these multi tenant buildings with beneficial ownership commencing on 30 November an office building in Antony leased to an public administration for six years fixed and integrated in TERREÏS portfolio on 29 September a portfolio of seven Paris multi tenant shops acquired by TERREÏS on 20 October Overall total commitments signed in the first nine months will generate an immediate return of 6 74 on a full year basis III Outlook The recent acquisitions particularly the properties on Avenue George V and Rue de la Paix in Paris are only expected to make a marginal contribution to rental income and TERREÏS group results in 2010 taking into account their acquisition date Therefore TERREÏS has confirmed the 2010 full year targets announced when it published its H1 2010 results rental income of over 21m an acceleration in cash flow growth in H2 TERREÏS

    Original URL path: http://www.terreis.fr/en/?option=com_actusnewswire&view=communiques&Itemid=189&lang=en&act_page1=ok&act_page2=ok&act_page3=ok&LANG=EN&langue=EN&RefACT=ACTUS-0-242&ACT_Type1=2&ID=ACTUS-0-21586&CLIENT=ACTUS-0-242 (2014-03-04)
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