Investor Presentaiton
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Overview of the 10-year Strategic Partnership with German Based Fund
Deka Immobilien
The Deka portfolio transaction in Q4 2018 was amongst the largest real estate transactions in the Czech Republic, underpinning the
attractiveness of CTP's A-Class asset portfolio
Logistics yield in the Czech Republic is expected to compresses by 50bps from 2017 to Q4 2020 with potential for further yield compression
compared to the Western Europe logistics market
Transaction Summary
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On 25 October 2018, CTP entered into a 10-year strategic partnership with Deka Immobilien involving the disposal of three prime industrial parks
in the Czech Republic - CTPark Plzeň, CTPark Prague North and CTPark Teplice
― Consisting of 32 A-Class buildings representing 390k sqm of premium industrial properties at a sale price of €410 MM
Deka acquired the ownership stakes in the parks with CTP continuing to manage and operate the portfolio under the CTPark network brand
As the properties remained under management of CTP, the sale did not result in decrease of the Group's service charge income
The sale to Deka was in relation to the ownership consolidation of the Group and part of proceeds from the sale was used to finance the purchase price of
the shares
Impact of Deka Disposal on Rental Income (€ MM)
+15%
ctp
€242
-
€(18) = €224
€258
€210
Evolution of Market Yield in Czech Republic
The Deka portfolio was sold at a double
digit premium to the prevailing market
valuation in Q4 2018
Potential for further
yield compression
compared to WE
+9%
50bps
176
173
158
5.75%
136
5.50%
5.50%
5.50%
5.25%
18
-4.00%
25bps
125bps
Source: Company information, JLL
2018
Rental Imapct
From Sale
2018
(Deka Adj.)
2019
9M 2020
2017
2018
2019
Q3 2020
Q4 2020 Western
Europe
Avg
Yield Compression
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