CG malls europe - Commerz Real

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In the difficult year 2009, we successfully renewed the leases of 48 tenants in Leon, and signed to 2 substitutions, which accounts for 91% of the total renewal options, for 49% of the total rent, and for 43% of the GLA. Due to the economic situation, the level of discounts and rentfree period increased, but must be seen in context with the overall aim to maintain the tenant mix and to stabilize the rental value. In León, discounts were granted to 22 tenants and rent free period to 4 tenants. In Leon there were 16 new contracts. The average remaining lease term was 7.3 years as of 31 December 2009 (on the basis of remaining lease term per unit, weighted by rental income per unit). By the end of December 2009, the mall reported 10 vacant units (15 without rent guarantees), which translates into a vacancy rate in sqm of 5.3% (7.1% without rent guarantee). Generally, the Espacio León is very attractive for its customers because of the high number of renowned international retailers besides the anchor tenants, including The Phone House, Bershka, Bull & Bear, Springfield, Bata, and Poly. León Lease Expiration in % of total rental income The following table and chart show the mall’s lease expiration profile: León Lease Expiration in % of Total Rental Income as at 31 December 2009 30% 27.3% 25% 20% 15% 10% 5% 0% 5.6% 2010 9.9% 2011 14.5% 2012 1.2% 2013 2014 1.1% 2015 2016 2017 2018 2019 2020+ 3.0% 0.5% 0.0% 16.7% 20.2% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019+ With its existing vacancy rate the centre offers the potential to be optimised; this is a major task to be completed in the near future. Property Report Year of Expiration in % 2010 5.6% 2011 9.9% 2012 14.5% 2013 1.2% 2014 27.3% 2015 1.1% 2016 3.0% 2017 0.5% 2018 0.0% 2019 16.7% 2020+ 20.2% 100.0% 47
48 Parking Parking Espacio León floor plans Shops by group of activity - level 1 Source: Commerz Real Group Fashion Supermarket Restaurant Home equipment Personal Accessoires Services Leisure Shops by group of activity - level 2 Fashion Home equipment Personal Accessoires Services Shops by group of activity - level 3 Fashion Restaurant Leisure Source: Commerz Real Group Source: Commerz Real Group
Page 1 and 2: Annual Report 2009 as at 31 Decembe
Page 3 and 4: 2 General Information Fund name: CG
Page 5 and 6: Almada Forum
Page 7 and 8: 6 Financials Balance Sheet by Fund
Page 9 and 10: Almada Forum
Page 11 and 12: 10 Manager‘s Report on the Fund O
Page 13 and 14: 12 For 2010, the Economist Intellig
Page 15 and 16: 14 Larger shopping centres of more
Page 17 and 18: 16 Shopping Centre Prime Initial Yi
Page 19 and 20: 18 As the figure above shows, many
Page 21 and 22: 20 All three Luxembourg companies a
Page 23 and 24: 22 5.2 Forum Montijo The acquisitio
Page 25 and 26: 24 The following list shows the per
Page 27 and 28: 26 6.2.1 Service and Management Cha
Page 29 and 30: 28 Property Report 1. Portfolio Ove
Page 31 and 32: 30 Tenancy information Almada Forum
Page 33 and 34: 32 The following table shows the to
Page 35 and 36: 34 Almada Forum As at 31 December 2
Page 37 and 38: 36 Shops by group of activity - lev
Page 39 and 40: 38 Almada Forum these malls are loc
Page 41 and 42: 40 Located next to the main entranc
Page 43 and 44: 42 Shops by group of activity - Gro
Page 45 and 46: 44 Forum Montijo Forum Montijo Catc
Page 47: 46 4. Espacio León The city of Le
Page 51: 50 Espacio León streets in the inn
Page 54 and 55: the future net tax income to the cl
Page 56 and 57: 2.1 Internal Loan Portfolio The tab
Page 58 and 59: With the purchase of Almada Cda. an
Page 60 and 61: CG Real Estate Luxembourg S.à.r.l.
Page 62: Financial Statements Financial Stat
Page 65 and 66: 64 Commerz Real Estate Master FCP -
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98 Commerz Real Estate Master FCP -
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