PRELIOS SGR: APPROVED HALF-YEAR REPORTS AT 30 JUNE 2013 FOR LISTED FUNDS

Jul 30 2013

TECLA FONDO UFFICI

  • 10.4% AVERAGE ANNUAL YIELD FROM PLACEMENT, VS 5.5% TARGET
  • NAV 337 EURO PER UNIT; TOTAL NAV EURO 217.9 MLN (+12.84% VS. RESIDUAL INVESTED EQUITY AMOUNTING TO EURO 193.1 MLN)



OLINDA FONDO SHOPS

  • 5.2% AVERAGE ANNUAL YIELD FROM PLACEMENT, VS. 5.5% TARGET
  • NAV EURO 437.24 PER UNIT; TOTAL NAV EURO 228.3 MLN (+6.68% VS. RESIDUAL INVESTED EQUITY AMOUNTING TO EURO 214 MLN)



Milan, 30 July 2013 – The Board of Directors of Prelios SGR, held on today’s date, approved the reports at 30 June 2013 of its listed seeded real estate funds.

Tecla Fondo Uffici Report

From placement date in March 2004, the Fund has achieved an average annual yield of 10.4%, equal to about twice as much versus the 5.5% target.

It should be noted that during the semester the Fund disposed one property in Palermo and one real estate portion at Ivrea, for a total value of 9.9 million euro, with a total gross plus of 0.4 million euro on book value.

The Fund’s operating result is equal to -2.7 million euro, net of unrealized capital losses.

The Board resolved for the time being not to reimburse any equity or to pay out proceeds, also in view of the forthcoming repayment covenants envisaged under the loan contract.

NAV is 337 euro per unit. On 28 June 2013 the Stock price per unit is equal to 159.8 euro. The total NAV of Tecla Fondo Uffici, with reference to 21 assets still in the portfolio at 30 June 2013, is equal to 217.9 million euro.

Olinda Fondo Shops Report

From placement date in March 2004, the Fund has achieved an average annual yield of 5.2%, close to the target of 5.5%.

It should be noted that the Fund sold one property in Bergamo in the semester for a total value of 7.9 million euro, with a gross loss of about 0.9 million euro on book value.

During the semester, following to an important project for the improvement and renovation of the complex, the Fund successfully opened the Shopping Center Centro Commerciale Grotte Center of Camerano, in the province of Ancona.

The result of the ordinary management is positive for about 2 million euro, however as a result of the capital loss primarily caused by the update of the properties valuation and in the light of the current market situation, it is not possible to pay out any proceeds.

The Fund’s operating result, including unrealized capital losses, is equal to -12.1 million euro.

The Board resolved for the time being not to reimburse any equity, also in view of the forthcoming repayment covenants envisaged under the loan contract.

NAV is equal to 437.24 euro per unit. The Stock price per unit at 28 June 2013 is equal to 105,6 euro. The total NAV of Olinda Fondo Shops, with reference to 26 assets still in the portfolio at 30 June 2013, is equal to 228,3 million euro.