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Commercial Real Estate Dividend Fund


G d a ń s k I n o w r o c ł a w K i e l c e

REAL ESTATE INCOME ASSETS FIZ ANCOMMERCIAL REAL ESTATE DIVIDEND FUND

REAL ESTATE INCOME ASSETS closed-end investment fund for non-public assets is a dividend fund operating in the commercial real

estate market. Set up by the Capital Park Group and Open TFI, the Fund is a unique investment product that generates stable income through

investing in a portfolio of 39 high street properties throughout the country.

Portfolio value: 196.9 million PLN ( TFI net asset value as at 10.06.2013 ).

Due to low capital entry requirements, the fund provides an opportunity to invest in properties that were previously available solely to

investors affording to buy the entire property. Additionally, by investing in REAL ESTATE INCOME ASSETS FIZ AN investors obtain a diversified

portfolio without incurring costs associated with property management.

I N V E S T M E N T S


M rą g o wo O l s z t y n O p o l e

STABLE INCOME FOR YEARS

• Stable 7-8% dividend per annum

• Real rate of return on capital employed standing at 12-13%

• Share in potential value growth driven by so-called yield compression

• Completed portfolio, meaning profits from day one

• Inflation indexed rental income

• Well-balanced investment strategy


Pierwszy w Polsce Dywidendowy Fundusz Nieruchomosci Komercyjnych


Wi e l i c z k a L u b l i n Wr o c ł a w

Warszawa

Gdańsk

WrocławBolesławiec

Głogów

Poznań

Łódź

Szczecin

BiałogardTczew

Słupsk

Tuchola

MrągowoSuwałki

Łomża

Żyrardów

Lublin

ChełmKielce

Wieliczka

Radom

Gliwice

Kędzierzyn-Koźle

Opole

Inowrocław

Olsztyn

ATTRACTIVE INVESTMENT PORTFOLIO

• Diversification. The portfolio consists of 39 retail properties in 26 cities throughout Poland

• Downtown location. The portfolio assets are prime properties situated in attractive, high street locations

• Scale. Portfolio properties with a total area of approx. 14 956 sq. m.

• Safe income. Inflation indexed lease agreements signed with reputable tenants including: Rossmann, CCC,

Żabka, BZ WBK, Raiffeisen POLBANK, Bank Millennium, Alior Bank, MultiBank

• No extra costs. The agreements are chiefly triple net leases, with all property-related costs being paid by the

tenant (e.g. property tax, insurance, common area maintenance charges)

• Experience. Properties are managed by Capital Park – leader of high street retail property market in Poland,

with many years of experience in the commercial property market

• Active management. The portfolio will be developed on an ongoing basis through sale of the least profitable

properties and purchase of new, more attractive projects financed with surpluses



S z c z e c i n Wa r s z a w a Ł ó d ź

• No developer risk; only completed and commercialised properties

generating a stable income and ensuring regular dividend payment

• Only top quality commercial properties in high street locations

• Only properties with clarified legal status

• All cash surpluses safely invested – only in Polish Treasury bonds or

domestic bank deposits

WELL-BALANCED STRATEGY

Assets

Property portfolio

(100%)

Capital employed

(ca. 40%)

External financing

Leasing

(ca. 60%)

Rental income Rate of return on capital employed ca. 12-13%, including ca. 7-8 % in the form of cash surpluses

allows to increase return on capital employed

using financial leverage

The above estimates are solely for illustrative purposes and have been made based on factorsassumed to approximately reflect the current situation, that is, conditions and commercialisation of the property portfolio and macroeconomic

variables (EUR/PLN rate, inflation/interest rates)



B o l e s ł a w i e c Ł o m ż a Wa r s z a w a

• Lower capital entry requirements; investment amount adjustable and divisible in the event of certificate sale/purchase

• No need to spend time on administering the property – portfolio managed by Capital Park

• Portfolio financed on beneficial terms that individual investors find difficult to obtain

• No burden on personal credit rating, unlike in the case of privately financed investments

• Potential possibility to use the Fund’s units as security for a loan

• An alternative to the purchase of shares in companies operating in the commercial property sector; the Fund’s ability

to pay dividends is better and more stable

BEST ALTERNATIVE TO DIRECT PROPERTY INVESTMENT


GLA (GROSS LEASABLE AREA):

613 sq. m.

TENANTS :

Alior Bank

Credit Agricole

Millennium Bank

Lublin, 10 Zamkowy Square

Selected properties


B i a ł o g a rd C h e ł mTc z e w


315 sq. m.

TENANTS :

Open Finance

Wrocław, 8/9 Ruska Street

Selected properties



421 sq. m.

TENANTS :

Getin Bank

Qiosque clothing store

Inmedio newsagent’s shop

UTIS pharmacy

„Jędruś” pastry shop

COMPLETION DATE:

July 2006

Tczew, 11 Dabrowskiego Street

Selected properties


Tu c h o l a Ra d o m O p o l e


1744 sq. m.

TENANTS :

Nordea Bank

Casino Poland

Insurance company

COMPLETION DATE:

August 2011

Gdańsk, 105 Grunwaldzka Street - Cristal

Selected properties



S ł u p s k G l i w i c e Wr o c ł a w

The Capital Park Group, established in 2003, is one of the leading and fastest growing companies investing in the

Polish real estate market. The group is one of the largest office property developers and market leader in high

street properties in Poland. At 31.12.2012 the total value of the Group’s assets stood at 1.3 billion PLN.

The property portfolio held by Real Estate Income Assets FIZ AN has been developed and managed by the Capital

Park Group since 2006. The team managing the portfolio has more than twenty years of experience in the property

market and a vast knowledge of finance, property management, commercialisation and legal services.

www.capitalpark.pl


This Presentation contains information derived from sources deemed by the Seller as reliable and accurate; however, the Seller does not warrant that it is complete and fully reflects the facts. This Presentation may contain forward looking statements that may be subject to various risks and may differ materially from the actual results, which constitutes investment risk. Information contained in this Presentation was not subject to independent verification and may always be subject to changes or be out of date or erroneous. There is no obligation to make public any updates or changesto information, data or statements contained in this Presentation in the event of changes to strategy or the occurrence of unexpected facts or circumstances that may affect strategy unless such obligation ensues from mandatory law. In particular, this Presentation may not be treated as: an offer to buy Certificates, an offer, invitation to negotiations, an invitation or encouragement to make an offer to buy, invest or carry out transactions involving Certificates, nor as a recommendation to conclude any transactions, involving, in particular, the Seller’s securities. Nor does this Presentation constitute an offer within the meaning of Article 66 of the Act of 23 April 1964 – the Civil Code (Journal of Laws No. 16, item 93, as amended).

Neither this Presentation nor any provision thereof constitute a recommendation within the meaning of the Regulation of the Minister of Finance of 19 October 2005 on information constituting recommendations regarding financial instruments, their issuers or drawers (Journal of Laws No. 206, item 1715), investment advice, legal advice or tax advice, nor does it indicate that any investment or strategy is relevant and adequate to the level of the investor’s knowledge of investing in financial instruments or the investor’s experience in investment.

LEGAL DISCLAIMER


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Grupa Cap i ta l Park11 Marynarska S t ree t , 02-674 Warsaw

Tel . : 22 318 88 88 , b iuro@cap i ta lpark .p lwww.cap i ta lpark .p l

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