MERLIN Properties Annual Report 2018 / English

ı 57 ı Annual Report 20 18 Post-closing • On January 17, MERLIN completed the acquisition of the Art and TFM buildings in Lisbon. The assets, located in Dom Joao II, the main avenue in Parque das Nações, comprise 29,985 sqm of gross lettable area, featuring grade A specifications and 3 meters floor-to-ceiling height. The acquisition price amounts to € 112.2 million representing a 5.4% gross yield over the passing € 6.1 million gross rents, with strong reversionary potential delivering an ERV yield of 6.2%. • In February, MERLIN has signed the renewal of Tecnicas Reunidas in Adequa, totalling 43,515 sqm. The contract has been renewed until 2022, at the same rent.