The Gate to the New Madrid
‘JOINING OUR ORIGINS’
UNIENDO NUESTROS ORIGENES
#UNO #UNO
ABOUT US
EAR - Existing Retrofitting Asset
#UNO FINANCIALS Land Acquisition: LTV Acquisition LTV CAPEX Interest Rate Levered IRR Profit Multiple
We are an experienced mixed use real estate investment company with a majority share in the “UNO holding company” in Luxembourg we created for this project. Our mission is to attract foreign capital for the large scale UNO development. In order to achieve this, we grant stakes in the UNO holding company which in turn has a stake in underlying local Spanish S.L.’s and SPV’s. Because of expertise considerations, the development activities will be outsourced on S.L. and SPV level to big Spanish developers with expertise in similar projects. Our goal is to provide likeminded value add investors with an opportunity to regenerate a deprived area and shape Madrid’s landscape for the future decades to come. All of this accompanied by the required IRR for their real estate investment. UNO Holding Company reduces investor’s risks and grants them a valuable opportunity to focus their efforts on their core business.
427.75 M 50% 75% 2.5% 13.53% 2.02x
Avg. Retrofitting cost 916€/sqm Avg. Construction cost 1645€/sqm
#UNO #UNO
Product Type: MIXED PRODUCTS New Built Area: 135,469 sqm
LOCATION
PROJECT OVERVIEW The Hold Co. is an investment capita venture which main purpose is to acquire, promote, and retrofit a Real Estate mixture of products. Such products mentioned are located along the Castellana Axis, North of Madrid, Spain (Castellana 278-280). #UNO Madrid Complex (Existing Asset Retrofit) aims to solve the lack of community sense by reviving the outdated Colonia San Cristóbal, differentiating the area from other points of interest in Madrid; highlighting the change in the character of the area; and associating the Castellana Corner Complex to the Castellana Norte District as the “new beginning”. Rebranding this area will help create greater footfall and, thus, “crossed sell economy” with the 4 Towers area. With a thorough mix of alternate uses, such as Co-Living, Co-Working, Student Apartments, Flexible Spaces for offices, Retail & Services, Smart Parking Hub, etc., the promotion will create its own target demand.
Located in the North of Madrid on the ‘east façade’ of the last ssection in Paseo de la Castellana, just across the Four Towers. The project consists of two main action areas: Colonia San Cristobal and the Office buildings (Castellana 270-280). Prime area with an immerse potential that is going to be unlocked thanks to #UNO.
We are here to unlock the full potential of a site that is currently characterized as a puzzle of Real Estate uses lacking the essential ‘glue’ (binding agent) that connects the pieces
Using sustainable design technologies, such as Proptech implementations; as well as operating with the right partners, this project will succeed against its competitors. The strategy to maximize revenue for this venture is:
Acquire – Refurbish – Enable.
2.6%
MARKET ANALYSIS
Economic Outlook - Spain currently enjoys a favourable macro-economic climate. A healthy GDP with a strong potential to increase, adecreasing unemployment rate, high consumer confidence and all time low interest rates promote cross sector investments including real estate.
DEMAND DRIVERS IE University 6,000 students
500 workers 25% looking for Student Housing
Cuatro Torres 21,000 employees
La Paz Hospital
750 internal residents 550 international 192 residents for specialization.
GDP GROWTH
TOTAL POTENTIAL DEMAND
32,492 people
Investment Outlook - We observe an increase in capital flows towards the north of Madrid, providing us with the opportunity to be pioneers in the Castellana Norte Development and take advantage of benefits other investors have yet to discover. The lack of Class A office space, a thriving residential market and a wall of capital fueling value-add investments favour our UNO development.
Nº4
investment city
Other universities: 3,500 potential students
#UNO #UNO
52,82%
MASTER PLAN
135,469.30
CO-LIVING CO-WORKING
OPERATING STRATEGY
SQM
STUDENT HOUSING RETAIL & SERVICES
create identity creating an identity for
OF MIXED USES
RELOCATED HOUSING OFFICES CULTURAL FLAGSHIP BUILDING GREEN AREAS PARKING
our community is fundamental to achieve a successful Real Estate development in the Nuevo Norte
WELL community create social coherence
creating an identity for
through an environmental strategy by branding the community as the first
our community is fundamental to achieve a successful Real Estate development in the Nuevo Norte
creating an identity for
create social coherence through an environmental strategy by branding the community as the first
our community is fundamental to achieve a successful Real Estate development in the Nuevo Norte
(UNO) WELL Certified Community
(UNO) WELL Certified Community
construct iconic Real Estate that unlocks the present but concealed value:
#INCEPTO
itself and bring
a positive impact
to the local community
#INCEPTO
our community is fundamental to achieve a successful Real Estate development in the Nuevo Norte
NEW LANDMARK in Madrid
Real Estate that unlocks the present but concealed value:
through an environmental strategy by branding the community as the first
(UNO) WELL Certified Community
strategy by branding the community as the first
that unlocks the present but concealed value:
#INCEPTO
to the local community
#INCEPTO
great balance Co-Working: blurring the physical and Nomad Spaces/WeWork perception limits between residents, Co-Living: workers and visiting tourists Quarters maximizeApartments/Housing: returns for the Attract new investment Student Real Estate development and achieve a new Resa, Nido, MiCasa Inn itself and bring great balance a positive impact blurring the physical and Retail &local Services to the community perception limits between residents, Impulza, Carrefour, WorkCenter workers and visiting tourists
create a new Economical and Living environment 6,85% 8,51%
RETAIL
11,96%
11,99%
#UNO
The Gate to the
+++ EXPERIENCES
‘New Madrid’
3,29% 4,57%
RE-ACTIVATING THE AREA Unlocking its value
52,82%
CO-LIVING CO-WORKING STUDENT HOUSING RETAIL & SERVICES RELOCATED HOUSING OFFICES
San Cristobal Neighborhood
Comunidad de Madrid
La Paz Hospital CULTURAL FLAGSHIP BUILDING GREEN AREAS PARKING
Chamartín
IE University 4 Tower’s Companies
ICEX
#UNO #UNO
m
#INCEPTO ICEX Building (UNO) WELL Certified AssetCommunity Management Department #UNO Tower & #INCEPTO Economical and Living en JV = #UNOcreate A.M. a&new Private Event Co) maximize returns for the A construct iconic #UNOReal Parking Hub Real Estate development Estate itself and bring that unlocks the present but a positive impact Thirdconcealed Parties value:
Colonia San Cristobal maximize maximize returns for the Attract new investment returns create a new Economical and Living environment Real Estate development and achieve a new
create a newcreate Economical and Living environment creation social coherence construct iconic
creating an identity for
create social coherence Complex: construct iconic #UNO Madrid through an environmental Real Estate
w
FINANCIAL DATA Returns & Profitability IRR Consolidated Colonia San Cristobal #UNO Complex
Exit Strategy
MOIC Consolidated Colonia San Cristobal Castellana Office Complex
Period(Year)
Price (€/sqm)
Co-working
8
8,383.5
Co-living
10
8,756.96
Student Housing
10
4,907.61
Retail & Leisure
7
7,263.46
Office Complex
10
8,353.69
Use
13.53% 15.32% 12.89% 2.02x 1.52x 2.28x
Investment & Financing Colonia San Cristobal 201M Total Investment 114M Debt 87M Equity
2.02x
€ 600,00
MoIC
€ 400,00
Cash Flow Through Investment Term
€679 M Y10 Sales proceeds
Cash Flow Through Investment €48. M Term €42.1 M
€679 M Y10 Sales proceeds
€-280 M Acquisition € 400,00 € 0,00 3 buildings
€ 200,00 €-280 M -€ 200,00 Acquisition 2019 2020 € 0,00 3 buildings
2022
2023
2024
TIMELINE/ACQUISITION STRATEGY -€ 200,00 2020
-600 units fully refurbished2023 by years end. 2024 2021 2022 -Final relocation process. -Stabilization of occupancy over every use. -Start repaying debt with 1st balloon payment.
- Acquisition of 600 units in Colonia San Cristóbal - Concession deal with Municipality for Market Refurb. and operation.
YEAR 0
Acquisition of Castellana Corner Complex:
€270 M.
14,235
YEAR 1
• Smart CAPEX to C280. • ICEX moving. (C278 → C280). • Permits for #UNO Tower.
new JOBS created
Colonia SC Consolidated
#UNO Complex
2025
2026
2027
2028
2029
2025
2026
2027
2028
2029
-Full optimization of Market, The Plaza and Co-working buildings. -Exit for Retail (Y7) and Co-working (Y8).
YEAR 2-4
-Exit period for Residential uses (Co-living & SH)
YEAR 9
#UNO Parking.
COMMUNITY
4,296 sqm
PUBLIC SPACES
• #UNO Complex starts
10,756 sqm build-up maintenance for infrastructure and
GREEN SPACES
#UNO #UNO
YEAR 10
Stabilization of the #UNO Complex Preparation process for exit at y10. operations. (Tower/Parking) • #INCEPTO Big opening.
creating identity
YEAR 10
YEAR 6-9
YEAR 5
• ICEX Building Demolition. • #UNO Complex Construction. • SEAT Building Retrofit into
Colonia SC
-Reach maximum levels of occupancy for Student Apartments and Co-living. -Preparation process for exit at y10.
YEAR 6-9
YEAR 5
YEAR 0-4
YEAR 0
Acq Cost:
LEVERED Consolidated #UNOIRR Complex
€48. M €42.1 M Y7 Y8 Retail Sale CoWorking 2021
593M 338M 255M
13.53%
Y7 Y8 Retail Sale CoWorking
€ 600,00 € 200,00
2019
Consolidated Total Investment Debt Equity
Castellana Office Complex 391M Total Investment 223M Debt 168M Equity
Exit period for #UNO Complex. Payment of Outstanding debt.
STARTING POINT for DCN with
€ 593 M
of INVESTMENT