Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Presentation – joint venture with CHL and Goldfarb


Published on

Published in: Economy & Finance, Business
  • Be the first to comment

  • Be the first to like this

Presentation – joint venture with CHL and Goldfarb

  1. 1. PDG Realty announces Joint Venture between Goldfarb and CHL for the Rio de Janeiro State Investors Relations: Michel Wurman Investors Relations Director João Mallet Investors Relations Manager Gustavo Janer IR Analyst Telephone: +55 (21) 3504-3800 E-mail: 1 Website:
  2. 2. Agenda Joint Venture Rationale Pipeline PDG Realty Business Model 2
  3. 3. Joint Venture Rationale Joint Venture to consolidate PDG Realty as the leader in launches in the low income segment within the state of Rio de Janeiro. CHL enters the low income segment with a partner with proven execution capacity in the segment. Synergy creation between two companies who are leaders in their markets . All CHL launches in the super low income segment (units under R$ 140 thousand) will be developed through the Goldfarb joint venture. Reaffirm and reiterate the strategic alignment between the current shareholders of both companies and PDG Realty. 3
  4. 4. Pipeline The CHL and Goldfarb Joint Venture for the Rio de Janeiro state has already a significant pipeline: – 5 projects totaling R$ 326 million of PSV, with the pro rata PSV for PDG Realty of R$ 225 million – Approximately 3 thousand units distributed in 150 thousand m2 A i l h d i di ib di h d2 – 3 projects are already expected to be launched in the 1st half of 2008. The Th companies expect to launch approximately 2-4 th i tt l h i t l 2 4 thousand low income units yearly dl i it l starting in 2008. CHL will be responsible for the research of new business and landbank acquisition, while Goldfarb will be responsible for the construction and management of the developments. Each company will hold a 50% stake in all new developments. 4
  5. 5. Corporate Structure At capital markets, operational and corporate finance levels p ,p p arkets / Inv. Credit Suisse Deutsche Bank Real Estate road trip Conference (NY) One on one UBS Non Deal Road UBS Conference Conference Follow-On Show (NY) São Paulo London R$ 575 mm Relation IPO Debentures Santander Initiating Coverage Real Estate road trip Banco Brascan p R$ 432 mm $ R$ 250 mm $ Capital Ma Non Deal NY and Toronto Boston IPO UBS CEO R$ 304 mm Conference Initiating coverage Initiating Coverage Initiating Coverage (debenture) Operational 2Q07 4Q06 1Q07 Launches: 21 projects Launches: 16 projects Launches: 14 projects Sales pro rata: R$224 mm Sales pro rata: R$82 mm Sales pro rata: R$78 mm GSV pro rata : R$ 231mm GSV pro rata: R$ 159mm GSV pro rata: : R$ 144mm t: Acquisitio Pipeline Goldfarb and CHL JV Acq. of 21% Joint Venture Acq. of 14.5%2 on Joint Venture JV Acq. of 20% f% Joint Venture Acq. of 5% (+20% option) Acq. of 5% JV 36.9%1 Acq. of 40% Acq. of 10% Acq. of 30% Sale of 20% (+5% option) Nov -07 07 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct -07 Notes: 1 25% directly and 11.9% indirectly through Lindencorp 2 Subject to further changes after new acquisitions 4
  6. 6. Corporate Strucuture PDG R lt h Realty has b been managing t create new b i i to t businesses b based on th private equity model and d the it it dl d establish new successful partnerships with companies with proven track record. 6
  7. 7. Business Model Exposure to the Low Income Flexibilidade pararata PSV in the Landbank amounts to R$ 3,5 billion Low Income Pro atuar em todos os segmentos do mercado Segment imobiliário42 k units with over Brasileiro Expertise and capacity to invest in: – Geographic regions Diversification – Market – Income class segments Abilidade “hire”agregar os melhores profissionais do mercado e on Ability to para the best management in the industry and leverage Leverage on Partnership their specific and local knowledge Philosophy alavancar suas abilidades em suas especificas áreas de atuação Potenciais ganhos de capital através dos seus investimentos de Additional capital gain Potential capital gains through its portfolio investments portfolio potential Management with strong real estate expertise, financial background g g p , g Gestão com grande culture to implement PDG Realty´s business expertise no setor imobiliário e financeiro com and return oriented Management expertise forte cultura de maximização de retornos strategy The right platform to accomplish a sustainable long term growth Unique business model in the Brazilian real estate market 7