Villa Mia, Benoni - Indluplace buffet... · Current portfolio will increase by over 40% to 9 633...

Buffet transaction -September 2017

Villa Mia, Benoni

Upper East Side, Boksburg

INTRODUCTION

INTRODUCTION

The “Buffet transaction” is the biggest acquisition for Indluplace to date.

Three transactions will together add 2 803 residential units and 2 970sqm of retail - worth R1,4bn.

Current portfolio will increase by over 40% to 9 633 residential units and 17 800 sqm of retail - worth over R4,3bn.

Diverse portfolio:• Spread around Gauteng with small exposure in Kwazulu-Natal• Different building types but mostly townhouse complexes and

suburban blocks• Range of rentals• Mostly newly converted / developed, some still under development

Pipeline – additional R500m pre-emptive right to purchase from various development partners

GROWTH IN UNITS

3690

5446 6830

9633

0

2 000

4 000

6 000

8 000

10 000

12 000

Listing June 2015 FY2016 Now Incl Buffet

Uni

ts

Growth last two years - 260%

Portfolio valued at about R4,3bn after Buffet acquisition

TIMELINE

• Announced Buffet transaction on 20 June 2017

• Circular posted on 29 August 2017

• General meeting of shareholders to be held on 27 September 2017

• Competition Commission approval expected during September 2017

• Effective date beginning of October 2017

DIVERSE

Rothchild Manor, Roodepoort

DIVERSE LOCATIONS

Jhb cbd22%

Jhb west17%

Jhb east38%

Jhb north2%

Vanderbijl8%

Jhb south9%

Durban4%

Buffet only

DIVERSE LOCATIONS

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

Indlu Buffet

5%

47%

10%

5%1% 1%

Total portfolio 9 633 units in four provinces32%

DIVERSE UNIT TYPES

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

Room Bachelor One bed Two bed Three bed Other

Uni

ts

Indlu Buffet

DIVERSE RENTALS (BUFFET)

Post transaction Indluplace will house over 35 000 people catering for families with household income roughly between R4000 and R25 000 pm.

We provide accommodation for over 2 700 students @ average R2128/bed

R 0

R 1 000

R 2 000

R 3 000

R 4 000

R 5 000

R 6 000

R 7 000

R 8 000

R 9 000

Room Bachelor 1 bed 2 bed 3 bed 4 bed Average

Rental/unit/month

Cranborough Mews, Randburg

PROPERTY MANAGEMENT

• Indluplace outsources the entire property management function to specialists with strong brands in our areas of operation.

• We use experienced property management companies.

• Currently almost 70% of the units are managed by our existing managers (Amorispan, Mafadi and Prime). We are in the process of allocating properties to suitable managers with capacity.

• Most of the properties are currently being managed on the MDA property management system, similar to Indluplace.

Jackson’s Cove, Jhb South

FINANCIALS

BALANCE SHEET

Pre-Buffet Buffet Post BuffetInvestment Property 2 900 229 155 1 400 000 000 4 300 229 155

Equity 2 700 229 155 145 000 000 2 845 229 155 Loan facility 200 000 000 1 255 000 000 1 455 000 000

Portfolio LTV 6.9% 89.6% 33.8%

^ - Vendor placement

Equity yield 10.75% 10%3 Year fixed 9.10% 45%5 Year fixed 9.60% 45%Blended 9.49%

^

THANK YOUCarel de Wit (CEO) : 082 808 5794 / carel@indluplaceproperties.co.zaTerry Kaplan (FD): 079 529 2935 / terry@indluplaceproperties.co.zawww.Indluplace.co.za

Eloff Str, Johannesburg

CBD