Private fundraising in RE (2014)

Paul ThiersBestuurder-oprichter ION

° 2011

25 sites in pipeline

650 MEUR exit value

80% residential / 20% commercial

250 MEUR gross revenue since 2011

IONKey figures

The Village

Unilin > Mohawk (2005)

Pentacon (holding)

Pentahold (club of five)

Origis (renewable energy)

Altior (executive search)

Deceuninck (chairman) ...

Paul ThiersView from an 'outsider'

- Underestimated asset class

- Much potential

- Profitable (higher return)

- Bricks > Tangible < Timber

- 'Leave a trail in space and history'

Why property ?The fascination of real estate

- Build a real estate company

- Shareholder value on the long term

- Close to the operations (control)

- Coaching

- 'What real estate can learn

from an industrial approach'

EntrepreneurshipThe fascination for real estate

Worldwide : $742 bn (Preqin, 2015)

Expectations ?

Governance ?

Asset allocation for RE ?

Private equityIn real estate

Private equity business model

Kasper DeforcheWereldhave Belgium

Nicolas BearelleRe-Vive

Kasper DeforcheCEO Wereldhave Belgium

° 1975 (1972)

785 + 35 MEUR fair value

85% shopping centers

108 MEUR acquisitions

109 MEUR developments

Wereldhave BelgiumKey figures

Shopping Genk 1

Les Bastions, Tournai

Nicolas BearelleCEO Re-Vive

° 2009

15 sites ongoing

2.500 residential units

650 MEUR exit value

62 MEUR gross revenue (2016)

Re-ViveKey figures

Ekla, Molenbeek

De Dokken, Gent

2010 : Re-Vive Brownfield Fund I = 20 MEUR (until 2018)

2012 : Re-Vive Brownfield Fund II: 50 + 10 MEUR (2020-2022)

2016 : Good Life Fund = 85 MEUR (2024-2026)

Total : 165 MEUR

Re-ViveCapital funding

CVBA (commanditaire vennootschap)

Fixed / Variable capital

Anchor shareholders (> 5 / 10 MEUR) = board seat

A / B Board members

2 independent members

Shareholder agreement

Investments / desinvestments by board only

Fund Profile

Private equity business model ION

Closed end

Fixed exit (~ timing of the developments)

Corner stone engagement (control)

Corporate governance (branding)

Full reporting (private / institutional)

Fund management as a 'separate' business

Topics

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