MERLIN Properties Annual Report 2018 / English

ı 36 ı LOGISTICS Acquisition of Guadalajara-Cabanillas III Land plot located in Guadalajara-Cabanillas for the construction of a ready-to-build 21,544 sqm logistics facility. The warehouse will feature 2 modules and will be suitable for 3PL operators, including 23 loading docks and 10m clear height. Cabanillas is located in the third logistics ring of Madrid (50 kms. From city center), which covers cross-national activity. The plot is located close to MERLIN Cabanillas I asset (let to Logista) and enjoys excellent access to the N-320 road connecting the A-2 to the R-2. CABANILLAS III G.L.A. (sqm) 21,544 Acquisition price (1) (€ thousand) 4,240 Estimated Capex (€ thousand) 7,524 Total cost (€ thousand) 11,764 ERV (€ thousand) 869 ERV yield (2) 7.4% Delivery date 4Q 2019 (1) Excluding transaction costs (2) Calculated as ERV divided by acquisition price plus estimated Capex Acquisition of Vitoria-Jundiz II & Guadalajara-Cabanillas II Portfolio of 3 assets totaling 41,852 sqm of GLA, including: • 2 warehouses totalling 26,774 sqm located in Júndiz (Vitoria), the main logistics hub in the region. The warehouses are fully let to DHL, under a procurement contract with Mercedes-Benz. • 1 warehouse with 15,078 sqm located in Cabanillas (Guadalajara), one of the fastest growing area within the Corredor de Henares logistics axis. The asset is fully let to Jaguar Land Rover. VITORIA-JUNDIZ II GUADALAJARA-CABANILLAS II Acquisition Price of the asset (1) (€ thousand) 20,900 Asset debt outstanding as of the date of purchase (€ thousand) - Equity disbursement (€ thousand) 20,900 Estimated Capex (€ thousand) 0% Annualized gross rent 2018 (€ thousand) 1,400 Gross yield 6.9% Total G.L.A. (sqm) 41,852 (1) Excluding transaction costs