GRI Summit - Global Real Estate Institute

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Partner Mission Aedes S.p.A.’ mission is to strengthen its role as a property company and to broaden the range of activities performed in the property services industry. The group implements its strategy for growth by focusing on increasing investment in areas of high profi tability and high cash fl ow, as well as on innovative property and fi nancial management services, with the objective of optimising value for the company’s shareholders, its employees, and its business partners. Luca Castelli Luca Castelli CEO +39 02 869 69201 Giovanni Paviera Managing Director +39 02 869 69201 Aedes S.p.A. Via Monte di Pieta, 1 20121 Milan Italy Tel: +39 02 869 691 Giovanni Paviera The strategic approach • Focus on high quality retail and offi ce properties with good growth potential and long-term lease contracts with highly solvent tenants; • Increase in the rate of return on the properties under management (through effective structures of acquisition fi nance, trading, services to external customers, and joint ventures in the development and investment segments); • Expansion of strategic alliances with key players in the domestic and foreign markets; • Creation of value through dynamic asset management; • Sale of properties once they have reached their optimal value; • Selection of instruments that help to optimise acquisitions and management activities from a legal, fi nancial, and fi scal point of view; • Broadening the real estate services segment. Real Estate Portfolio In 2003, Aedes Group once again increased its portfolio of owned real estate, including Aedes’s share in properties held by non-controlling interests, going from a market value of €1,548 million to €1,752 million for an increase of 13%. Including all equity investments in their entirety, both controlling and non-controlling interests, the total property portfolio under management totals €2,139 million. In terms of product, portfolio distribution has changed, with the investment portion – which continues to be the core of the property portfolio – going from €1,339 million to €1,454 million for a percentage of the total value of 83%. Trading and development properties, which are now of strategic importance to the portfolio under management, have also undergone signifi cant changes. Trading properties fell as a result of sales in 2003 from the €111 million of 2002 to a market value as of December 31, 2003, of €78 million, whereas development properties increased leading to a portfolio allocation of roughly €220 million from the previous €100 million. History Aedes is founded in Genoa in 1905 with the objective of completing property building projects of great importance. In 1924 Aedes S.p.A. is traded on the stock market while in 1944 transfers its headquarters to Milan. From 1944 to 1997 the company develops its real estate activities achieving estate holdings of 200,000 sq. mts. As of 1984 the main shareholders of Aedes S.p.A. are “Accademia dei Lincei”, “Banca d’Italia” and “Fondo Pensioni Cariplo”. In 1999 the De Benedetti group acquires Aedes and then involves an international insurance group so that in 2000 the company reorganizes its own strategy in the Real Estate activity and begins a phase of development of its portfolio.
Partner Ashurst is a leading international law fi rm advising corporates and fi nancial institutions, with core businesses in real estate, mergers and acquisitions, corporate and structured fi nance. Our strong and growing presence in Europe and elsewhere is built on extensive experience in working with our clients on the complex international legal and regulatory issues relating to cross-border transactions. With a team of over 160 partners in 10 countries, we provide advice of the highest quality to organisations worldwide. Gary Watson Gary Watson Tel: +44 20 7859 2426 Email: gary.watson@ashurst.com Eva Maschietto Tel: +39 02 85 42 31 Email: eva.maschietto@ashurst.com Ashurst Broadwalk House 5 Appold Street London EC2A 2HA Tel: +44 20 7638 1111 Eva Maschietto Over the years, we have designed and built our business to meet our clients’ needs around the world, where the changing corporate and regulatory environment is increasing the complexity of the business landscape and the need for timely and well-judged responses. Organic growth has preserved continuity between all our European offi ces through a period of rapid expansion, offering cost-effective advice within a single network. We thrive on the diversity of our expertise and the range of jurisdictions in which we operate, while maintaining a strong culture of enterprise and client focus. With a leading European real estate practice of over 20 partners and more than 80 lawyers operating across borders from our offi ces in London, Brussels, Frankfurt, Madrid, Milan, Munich and Paris, we have built a real estate business to help our clients benefi t from the real estate opportunities in Europe today, particularly as it moves towards privatisation, outsourcing and public private partnerships, often requiring sophisticated structured fi nance techniques. We have acted on numerous international portfolios and outsourcing transactions (including the groundbreaking £2.36 billion portfolio of 6,700 properties for British Telecom). We have pioneered Islamic funding structures in this sector, and with clients have launched the fi rst ever Shari’ah compliant European real estate fund. We continue to act for numerous pan-European real estate funds, drawing on a wealth of experience from both our investment funds and our European real estate practices. We are proud to be at the forefront of real estate technology.
Page 1 and 2: A Greater Europe: Renaissance ...or
Page 3 and 4: Welcome Bienvenue The mission of sp
Page 5 and 6: Keynotes A GREATER EUROPE Renaissan
Page 7 and 8: Monday September 13 Pre-Summit FIRS
Page 9 and 10: Summit Tuesday September 14 ...wher
Page 11 and 12: 13h00 - 14h15 monday september 13 T
Page 13 and 14: 14h30 - 15h45 monday september 13 1
Page 19 and 20: Summit Sessions Tuesday September 1
Page 21 and 22: Summit Sessions Tuesday September 1
Page 23 and 24: Global Real Estate Institute The GR
Page 25 and 26: Senior Partner Corporate Summary Fr
Page 27 and 28: Senior Partner Jean-Jacques Dayries
Page 29: Senior Partner Corporate Summary Pe
Page 33 and 34: Partner Crown NorthCorp Limited’s
Page 35 and 36: Partner The Whitehall Funds The Whi
Page 37 and 38: Partner Lindsay Morgan Rajindh Mang
Page 39 and 40: Partner Terra Firma Capital Partner
Page 41 and 42: Creators of the Summit SÉBASTIEN B
Page 43 and 44: Creators of the Summit DR HORST CLE
Page 45 and 46: Creators of the Summit BENOÎT DU P
Page 47 and 48: Creators of the Summit SHIRISH GODB
Page 49 and 50: Creators of the Summit JEAN-PAUL JE
Page 51 and 52: Creators of the Summit AREF LAHHAM
Page 53 and 54: Creators of the Summit EVA MASCHIET
Page 55 and 56: Creators of the Summit JULIAN NEWIS
Page 57 and 58: Creators of the Summit RICHARD PRIC
Page 59 and 60: Creators of the Summit JOHN SIMS ch
Page 61 and 62: Creators of the Summit GARY WATSON
Page 63 and 64: Thank You The GRI thanks its Summit

GRI Summit - Global Real Estate Institute

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