MERLIN Properties Annual Report 2019 / English

32 | Annual Report | 2019 OFFICES Acquisition of Art and Torre Fernando Magalhães (TFM) In January, MERLIN completed the acquisition of Art and TFM. • Art is an “U” shaped building overlooking the river Tagus, located in Parque das Naçoes – EXPO (Lisbon). With an occupancy rate of 100%, the main tenants are BNP Paribas, Huawei, Sage or DHL. • TFM is also located in Parque das Naçoes – EXPO (Lisbon), adjacent to Zen Tower and Central Office buildings. With an occupancy rate of 97%, the main tenants are Webhelp and Bold International. The acquisition price amounts to € 112.2 million representing a 5.4% gross yield. Art and TFM Acquisition Price (1) (€ thousand) 112,205 ERV (€ thousand) 6,936 ERV Yield 6.2% Annualized gross rent 2019 (€ thousand) 6,114 Gross yield 5.4% Total G.L.A. (sqm) 29,987 (1) Excluding transaction costs ACQUISITIONS