MERLIN Properties Annual Report 2017 / English

ı 33 ı Annual Report 2017 Acquisition of Central Office On 17 April, MERLIN Properties completed the acquisition of Central Office Building leading to an expansion of its footprint in the Lisbon office market and, more specifically, in the Expo area. The asset, located in Dom Joao II 45, the main avenue in Parque das Nações in Lisbon, was originally designed by prestigious architect Federico Valsassina and opened in 2005. The 13 storey building comprises 10,310 sqm of lettable area and is 100% let to best-in-class companies. The acquisition price amounts to € 29 million representing € 2,850 per sqm and a 6.8% gross yield. Central Office Acquisition price of the asset (1) (€ thousand) 29,385 Asset debt outstanding as of the date of purchase (€ thousand) - Equity disbursement (€ thousand) 29,385 % Debt to acquisition Price of the asset - Annualized gross rent 2017 (€ thousand) 1,996 Annualized net rent 2017 (€ thousand) 1,883 Gross yield 6.8% EPRA Topped-up Yield (2) 6.4% Total G.L.A. (sqm) 10,310 (1) Excluding transaction costs (2) Calculated as the gross annualized rent minus annualized property expenses not rechargeable to tenants, divided by the acquisition price of the asset