MERLIN Properties Annual Report 2018 / English

ı 34 ı ACQUISITIONS Acquisition of Zen Tower On 17 April, MERLIN completed the acquisition of ZEN Tower. The asset, located in Dom Joao II, the main avenue in Parque das Nações in Lisbon, comprises 10,207 sqm of lettable area in 13 floors plus 5 floors for parking (331 spaces). With a unique glass curtain wall design, the property features raised floors, two terraces and excellent views over the river Tagus. The asset is 100% let to best-in-class companies such as Danone, Avigilon (Motorola Solutions) and the global engineering company Subsea7. The acquisition price amounts to € 33.2 million representing a 6.4% gross yield over € 2.1 million of gross rents. OFFICE ZEN TOWER Acquisition Price (€ thousand) 33,206 Asset debt outstanding as of the date of purchase (€ thousand) - Equity disbursement (€ thousand) 33,206 % Debt to acquisition Price of the asset 0% Annualized gross rent 2018 (€ thousand) 2,119 Gross yield (1) 6.4% Total G.L.A. (sqm) 10,207 (1) Calculated as Annualized gross rent divided by acquisition price