Chat with Filing

Ask questions about this document
Please log in or register to use the chat feature. Please register first.
RNS - Colonial remite documentación de soporte a la presentación a analistas e inversores, que se celebrará hoy, martes, día 22 de abril de 2025 a las 18:30 horas (CET) a través de un webcast.

Company: Inmobiliaria Colonial Socimi S.A. Date: 2025-04-22 Language: Spanish Register to download
Loading document preview...
Document Preview Not Available

The file type (.pdf) cannot be displayed directly here.
Open Original File
Error loading document preview. Please try the 'Open Original File' link.
You're One Click Away From The Full Filing

Instantly access this document—and 2.8M more—for free. Select your preferred method:
Continue with Google Continue with Microsoft Continue with Facebook Continue with Amazon
![](_page_0_Picture_0.jpeg)

De conformidad con lo establecido en el artículo 227 de la Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión, Inmobiliaria Colonial, SOCIMI, S.A. ("**Colonial**" o la "**Sociedad**") comunica la siguiente

### **OTRA INFORMACIÓN RELEVANTE**

Como continuación a la comunicación de "Otra Información Relevante" publicada el 22 de abril de 2025 con número de registro 34201, Colonial remite documentación de soporte a la presentación a analistas e inversores, que se celebrará hoy, martes, día 22 de abril de 2025 a las 18:30 horas (CET) a través de un webcast.

Los datos de conexión a la conferencia se detallan a continuación:

Francia (Paris) +33 172 00 1700

Alemania (Munich) +49 891 436 7081

Holanda (Amsterdam) +31 20 795 2680

España (Madrid) +34 917 91 85 80

Reino Unido (Londres) +44 20 3428 1388

Estados Unidos (Nueva York) + 1 917 444 9040

Identificador de la conferencia: 345 632

La presentación online será visible a tiempo real vía webcast con audioconferencia a través del siguiente link:

[Inmobiliaria Colonial -](https://cloudup.vancastvideo.com/event/lqtlkALA/10885/?lang=10028) Alpha Investment

Adicionalmente, la presentación estará disponible en la página web de la Sociedad.

En Madrid, a 22 de abril de 2025.

![](_page_1_Picture_0.jpeg)

Alpha Deeplabs | 1

**#1**

# *Alpha Deeplabs*

*April 22 nd , 2025*

## DISCLAIMER

By attending this presentation and receiving this document, you are agreeing to be bound by the following limitations. Any failure to comply with these restrictions may constitute a violation of applicable securities laws and/or may result in civil, administrative or criminal liabilities.

This document is strictly confidential and is being furnished to you solely for your information. It may not be reproduced, or redistributed to any other person, and it may not be published, in whole or in part, for any purpose.

The information contained in this presentation ("Presentation") has been prepared **by Inmobiliaria Colonial, SOCIMI S.A. (the "Company")** and has not been independently verified and will not be updated. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein and nothing in this Presentation is, or shall be relied upon as, a promise or representation. None of the Company nor any of its employees, officers, directors, advisers, representatives, agents or affiliates shall have any liability whatsoever (in negligence or otherwise, whether direct or indirect, in contract, tort or otherwise) for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with this Presentation.

This Presentation is for information purposes only and is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by the Company and the Company's publicly available information. The information and opinions in this presentation are provided as at the date hereof and subject to change without notice. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects.

This Presentation does not constitute investment, legal, accounting, regulatory, taxation or other advice and does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and for making your own independent assessment of the Company. You are solely responsible for seeking independent professional advice in relation to the Company. No responsibility or liability is accepted by any person for any of the information or for any action taken by you or any of your officers, employees, agents or associates on the basis of such information.

This Presentation contains financial information regarding the businesses and assets of the Company. Such financial information may not have been audited, reviewed or verified by any independent accounting firm. The inclusion of such financial information in this Presentation or any related presentation should not be regarded as a representation or warranty by the Company, its affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information's portrayal of the financial condition or results of operations by the Company and should not be relied upon when making an investment decision. . Certain financial and statistical information in this document has been subject to rounding off adjustments. Accordingly, the sum of certain data may not conform to the expressed total.

Certain statements in this Presentation are forward-looking. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changing economic, business or other market conditions, changing political conditions and the prospects for growth anticipated by the Company's management. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this Presentation and based upon past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The market and industry data and forecasts included in this Presentation were obtained from internal surveys, estimates, experts and studies, where appropriate as well as external market research, publicly available information and industry publications. The Company, it affiliates, directors, officers, advisors and employees have not independently verified the accuracy of any such market and industry data and forecasts and make no representations or warranties in relation thereto. Such data and forecasts are included herein for information purposes only. Accordingly, undue reliance should not be placed on any of the industry or market data contained in this Presentation.

NEITHER THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED HEREIN CONSTITUTES AN OFFER OF PURCHASE, SALE OR EXCHANGE, NOR A REQUEST FOR AN OFFER OF PURCHASE, SALE OR EXCHANGE OF SECURITIES, OR ANY ADVICE OR RECOMMENDATION WITH RESPECT TO SUCH SECURITIES**.**

![](_page_3_Picture_0.jpeg)

Executive

Summary

Science & Innovation - Superior Growth -

Creation of a European Leader

Growth Profile & Returns

Conclusion

![](_page_4_Picture_0.jpeg)

![](_page_4_Picture_1.jpeg)

![](_page_4_Picture_2.jpeg)

![](_page_4_Picture_3.jpeg)

Science & Innovation - Superior Growth -

Creation of a European Leader

Growth Profile & Returns

Conclusion

### **01** Executive Summary

## Colonial & Stoneshield to set up the Leading Platform in Science and Innovation

![](_page_5_Picture_2.jpeg)

## Seizing the European Real Estate Opportunity behind Strategic Growth

![](_page_6_Figure_3.jpeg)

*Successful Strategy in Madrid & Barcelona with >30% market share<sup>1</sup>*

![](_page_6_Picture_5.jpeg)

### *Rapid Scale-up of a Pan-European pipeline*

![](_page_6_Figure_7.jpeg)

*1 Estimated market share in Spanish Life Science Segment* 

### **01** Executive Summary

## Fast paced industries require innovative Urban Transformation solutions

![](_page_7_Figure_3.jpeg)

### *Development of the right product with complementary operating services*

![](_page_8_Picture_1.jpeg)

## Colonial is accelerating its Urban Transformation portfolio

*Colonial to continue serving its clients' needs through Urban Transformation*

![](_page_8_Figure_4.jpeg)

![](_page_9_Picture_0.jpeg)

![](_page_9_Picture_1.jpeg)

Science & innovation - Superior Growth -

Creation of a European Leader

Growth Profile & Returns

Conclusion

### **02** Science & Innovation

## R&D industries with increasing demands for Science & Innovation space

![](_page_10_Figure_3.jpeg)

*Source: Bain & Company, White & Case, CrunchBase, Medical Device Network, Deloitte, Statista, CBRE analysis.*

Strong growth in Science & Innovation on the back of megatrends

![](_page_11_Figure_3.jpeg)

## Europe approves unprecedented spending in Research & Development

![](_page_12_Figure_2.jpeg)

*To digitalise and decarbonise the economy and increase our defence capacity, the investment share in Europe will have to rise by around 5 percentage points of GDP to levels last seen in the 1960s and 70s.*

3x *in Science & Innovation by region* 2014 2024 **145 380 Americas APAC EMEA** *Source: PitchBook EMEA VC investment outgrows the rest of the World*

*Global Venture Capital investment*

![](_page_12_Picture_6.jpeg)

*It proposes ways for Member States to massively invest in defence, procure defence systems and build up the readiness of the European defence industry over the long run. European countries need to target to spend 3-5% of GDP in defence vs current c.1.5%.*

~3x

2023 2026

European Defence Fund

*Readiness 2030*

**1.1**

**0.4**

**02** Science & Innovation

## Established Science & Innovation ecosystems attract high quality tenants

![](_page_13_Figure_3.jpeg)

- Science & Innovation sector is about **micro location** and flourishes in locations where an **ecosystem** can be created
- A **distinguished research university/institution** that drives the scientific knowledge ensures access to a skilled **talent** pool
- A dynamic **business environment** emerges as businesses such as start-ups, university spin-offs and investment firms cluster in the area.
- Combination of talents and businesses **attracts funding** in the sector

![](_page_13_Figure_8.jpeg)

*Sources: Eurostat, Statista, CW, Moody's, McKinsey, EU Commission*

production

![](_page_14_Picture_1.jpeg)

## Key cities with successful clusters attract global demand

![](_page_14_Figure_3.jpeg)

Science & Innovation Real Estate is a global megatrend with accelerating growth in Continental Europe and already strong in US & UK

*Source: Savills, ULI, CBRE. Note: Cities in bold refer hotspots for growth sectors. Un-bolded cities are below the threshold for 24/7 gateway cities.* **1**

## Europe is the emerging Science & Innovation region with accelerated growth

Increasing S&I demand meets undersupplied European market

**1. Undersupply of stock for flexible**, multi-tenant lab space

- > The **laboratory investment market** is still relatively **nascent**, and existing **stock is insufficient** to meet strong occupier demand
- > **Lack of sector-specific expertise in real estate** to develop high-quality lab spaces
- **2. Governments, pharmaceutical & technological companies to onshore R&D and innovation** activities within Europe **2**
- **3. Expanding talent pools** across Europe fueling the **rise of Science & Innovation ecosystems** with strong operators **3**

4. Increasing momentum in **Barcelona & Madrid as international Science & innovation destination 4**

Key European Cities as destination for Science & Innovation<sup>1</sup>

![](_page_15_Figure_11.jpeg)

![](_page_15_Picture_12.jpeg)

![](_page_15_Picture_13.jpeg)

![](_page_15_Picture_15.jpeg)

*1. Illustrative examples of operating Science & Innovation spaces*

### **02** Science & Innovation

## Barcelona - the largest innovation ecosystem in Southern Europe

#### **Business innovation ecosystem**

- **Third favorite city worldwide** for R&D investment and the first in Europe (Global Cities Investment Monitor, 2023)
- **12 universities**, including UPC<sup>1</sup> (1st in Europe in Math and Computer Sciences scientific production), and UPF<sup>2</sup> (7th best young university in Europe).

![](_page_16_Picture_5.jpeg)

![](_page_16_Figure_6.jpeg)

*1. Universitat Politècnica de Catalunya*

**Barcelona Scientific capacity in figures**

*2. Universitat Pompeu Fabra*

*Source: CBRE, Catalonia Trade & Investment*

*Biomèdiques Pi I Sunyer*

![](_page_16_Figure_10.jpeg)

*Center*

Alpha Deeplabs | 16

## Madrid - a growing hub for biomedical and pharmaceutical companies

#### **Business innovation ecosystem**

- 80% of the world's **largest biomedical and pharmaceutical companies** are in Madrid
- Madrid is home to **15 universities**, producing more than **30,000 graduates**  annually in scientific fields

![](_page_17_Picture_6.jpeg)

**Madrid Scientific capacity in figures 9.2bn Life Science turnover 5,000**  Scientific papers **Research Hub 29,000**  jobs **Talent**

![](_page_17_Picture_8.jpeg)

![](_page_17_Picture_9.jpeg)

*National Center for Cardiovascular Research*

![](_page_17_Picture_11.jpeg)

*Energy, Environmental & Technological Research Center*

![](_page_17_Picture_13.jpeg)

*Center for Astrobiology National Center for* 

![](_page_17_Picture_15.jpeg)

![](_page_17_Picture_17.jpeg)

*Severo Ochoa*

*Center for Plant* 

*Oncological Research*

*Biotechnology and Genomics*

![](_page_17_Picture_18.jpeg)

*Madrid Institute for Advanced Studies*

![](_page_17_Picture_20.jpeg)

*Institute of Theoretical Physics*

![](_page_17_Picture_22.jpeg)

*Health Institute Carlos III*

![](_page_17_Picture_24.jpeg)

Alpha Deeplabs | 17 *Center for Biomedical Tech Biotechnology National Center Research Institute La Paz*

*Source: CBRE*

## Paris - the European destination for global innovation companies

#### **Business innovation ecosystem**

- With **+25,000 foreign companies**, France is the leading business creator in Europe, and is home to 51 research & innovation centers
- Paris is home to some of the world's **most influential Science & Innovation companies**, with their **headquarters** based in the city

![](_page_18_Picture_6.jpeg)

#### **€22bn R&D Investment<sup>1</sup> 36%**  Publications of France **Research Hub €2.7bn**  raised **Venture Capital** *Top 1 Continental Europe Top 1 European Union*

**Paris epicenter of Science & Innovation investment & output**

*Source: CW, Pitchbook, CBRE, Kadans, European Commission (1): R&D expenditure in Ile-de-France for 2021*

#### **Strong political commitment in Science & Innovation**

**Leading Universities & Research**

- In 2021 France launched the **Health Innovation Plan 2030, a €7.5bn investment** in healthcare sector
- Priority sectors: **Biotherapy, Digital Health and Infectious & Emerging Diseases**
- **PariSanté Campus** cornerstone investment in Paris XV arrondissement as a hub for public – private collaboration

![](_page_18_Picture_13.jpeg)

![](_page_18_Figure_14.jpeg)

### Alpha Deeplabs | 18

![](_page_19_Picture_0.jpeg)

 Executive Summary

Science & innovation - Superior Growth -

Creation of a European Leader

Growth Profile & Returns

Conclusion

### **03** A European Leader

## Deeplabs is the leading Science & Innovation operator in Spain

Pioneering the fully integrated Science & Innovation Spanish platform

- **1. Leadership in Science & Innovation Property** Deeplabs is a leading, vertically integrated, Science & Innovation platform in Spain **1**
- **2. Consolidated ecosystems** Operates 22 buildings in Science & Innovation key clusters in Madrid & Barcelona, two of the strongest emerging markets in Europe **2**
- **3. Successful S&I campuses in Madrid & Barcelona with world class tenant base** – S&I premises including Wet & Dry Lab Space, Research & Technical workspace **3**
- **4. Successful asset transformation**  Strong credentials in rental growth through asset repositioning, achieving +46% premium over previous rents<sup>1</sup> **4**
- **5. Superior sourcing capabilities**  Extensive network of leading S&I national and international clients & ~€700m identified pipeline<sup>2</sup> **5**

| Rental Premium   | Long term  | Created     | Strong   |
|------------------|------------|-------------|----------|
| through          | Client     | Yield       | Value    |
| Tailored Product | Commitment | Compression | Creation |

- 1) Value creation achieved on selected assets in terms of comparable workspace rent per sqm
- 2) Includes acquisition cost and capex of identified pipeline

3) Market share considering Life sciences market

Deeplabs: The dominant S&I hub player in Spain

- > Total Surface 60k sqm
- > Wet & Dry Lab Space 16.1k sqm
- > Buildings 5

- > Total Surface 78k sqm
- > Wet & Dry Lab Space 19.5k sqm
- > Buildings 17

![](_page_20_Figure_22.jpeg)

### **03** A European Leader

## Deeplabs has created successful ecosystems with high quality tenants

### A fully integrated platform for unparalleled growth An attraction pole of global Science & Innovation

#### ˃ **Fully integrated platform 1**

˃ Combining Science & Innovation and Real Estate expertise

#### ˃ **Operational know-how 2**

- ˃ Personnel with proven extensive sectoral expertise
- ˃ Previous management positions in Madrid Science Park & Barcelona Science Park

#### ˃ **Tailor-made solutions 3**

- ˃ Tenant-focused approach allows the identification of client needs and market trends to deliver customized solutions
- ˃ BioInnova consulting services provides valued-added services to foster relationship with tenants and improving long-term retention

#### ˃ **Urban transformation 4**

˃ Colonial's proficiency at urban transformation paired with deep understanding of the tenant requirements, is poised to create a prime state-of-the-art customercentric solution

![](_page_21_Figure_15.jpeg)

## Successful ecosystems enable rental premiums, longer leases & asset value creation

![](_page_22_Figure_2.jpeg)

### **03** A European Leader

## Creation of the leading Science & Innovation Platform in European Key Cities

Strong Science & Innovation platform with European Ambition

**Strengthen existing footprint for Deeplabs' value proposal**

- > **Initial portfolio with c.€0.4bn assets** with established ecosystems in **Madrid and Barcelona**
- > **Embedded incremental returns through transformation**: rental premiums, enhanced contract maturities and higher asset values

#### **European build-up**

- > Additional growth opportunities leveraging on current S&I tenants
- > Strong European growth ambition with a **targeted pipeline of €2bn**
	- Investment pipeline of **€0.7bn identified** in 4 European cities (Paris, Lisbon, Cambridge, Amsterdam)
	- **€0.2bn pipeline secured** or in advanced conversations
- > Execution of rapid build-up strategy accelerated through the **use of 3 rd party capital**

![](_page_23_Figure_13.jpeg)

![](_page_23_Picture_14.jpeg)

![](_page_24_Picture_0.jpeg)

### **04** Growth Profile & Returns

## Pan-European growing Platform leveraging on third-party capital

| Business Unit with European ambition                                                                                                                      | Joint Venture to create the Leading Pan |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|
| Leading Co-Manager Partners with strong alignment and                                                                                                     | European Science & Innovation platform  |
| proven track record of delivering superior returns<br>Stoneshield<br>as European Leader in the Real Asset<br>Platform Business –<br>100 PERE global firms | Management Company                      |
| Colonial as International Leader on Urban Transformation<br>in Paris, Madrid & Barcelona                                                                  | Third<br>Party<br>Capital               |
|                                                                                                                                                           |                                         |
| as market leader with +30% market share1<br>/ 8x                                                                                                          | S&I SOCIMI                              |
| Consolidated ecosystems in Madrid and Barcelona                                                                                                           |                                         |
| with top tier clients<br>Strong operating platform with network across Science<br>& Innovation community, ready to expand its footprint                   | Investment<br>Pipeline                  |
|                                                                                                                                                           | second player                           |

*1 Estimated market share in Spanish Life Science Segment* 

## Creation of the European Leading operator in Science & Innovation

![](_page_26_Figure_2.jpeg)

#### **04** Growth Profile & Returns

## Continuing to drive shareholder value

![](_page_27_Picture_2.jpeg)

## *Geared IRR of +15% Stabilised Yield on Investment >10%*

![](_page_27_Figure_4.jpeg)

![](_page_28_Picture_0.jpeg)

 Executive Summary

Science & innovation - Superior Growth -

Creation of a European Leader

Growth Profile & Returns

Conclusion

**05** Conclusion

## Colonial & Stoneshield to set up the Leading Platform in Science & Innovation

#### **Strong Growth of Science & Innovation in Europe**

- *Science and Innovation real estate is surging, driven by shifts in demographics, AI-driven tech and geopolitics*
- *Europe is committing record breaking R&D budgets to fuel the innovation economy*
- *Established Science & Innovation ecosystems attract high quality tenants*

**Alpha Deeplabs: A Leading Platform as the basis for International Growth**

- **Dominant market position** in Spain with top-tier S&I campuses in Madrid and Barcelona
- **Prime ecosystems** built to attract world-class talent, tenants, and global capital
- Poised to lead the European market as the **first fully integrated S&I platform across geographies**

**Colonial's Urban Transformation enhanced through European S&I**

- *Investment with high double-digit returns: +15% Geared IRR*
- *Rapid build up strategy accelerated through third party capital*
- *Accretive transaction on an EPS and NTA basis*
- *Strategic opportunity through first mover advantage*

![](_page_29_Picture_15.jpeg)

# **THANK YOU**

| Property reference in quality office<br>market in the euro zone<br>Colonial at a glance ><br>Market value 31/12/2022<br>Number of assets | Colonial |                                      | Company Assets Shareholders and investors Scolal responsibility Press Contact |  |
|------------------------------------------------------------------------------------------------------------------------------------------|----------|--------------------------------------|-------------------------------------------------------------------------------|--|
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
| 13.005 €m                                                                                                                                | €        | Surface above ground<br>1.688.149 m2 | E 80 inmuebles                                                                |  |
|                                                                                                                                          |          |                                      |                                                                               |  |
|                                                                                                                                          |          |                                      |                                                                               |  |

**https://www.inmocolonial.com/en/shareholders-and-investors**

![](_page_30_Picture_3.jpeg)

Alpha Deeplabs | 30

### Appendix

## Spain, emerging markets with strong fundamentals

#### *Madrid*

![](_page_31_Picture_4.jpeg)

#### **Corporate ecosystems**

✓ *300+ S&I established companies*

**R&D Investment**

- ✓ *€2,000m+ investment (43% public)*
- ✓ *€800m+ budget/year for Scientific Research*

**S&I Education**

*2nd in # of S&I students in Spain*

✓ *50,000+ S&I students* 

#### **Infrastructure**

- ✓ *86 hospitals*
- ✓ *8 health research centres*
- ✓ *17 universities (public and private)*

#### *Landmark investments validate Madrid & Barcelona*

![](_page_31_Picture_18.jpeg)

*"AstraZeneca will invest €1.3 billion in developing an R&D center in Barcelona, reinforcing Spain as a key hub for biotechnology and pharmaceutical innovation in Europe."*

![](_page_31_Picture_20.jpeg)

*"AstraZeneca will allocate €1 billion to build a production facility in Madrid, for the manufacturing of innovative medicines and securing global supply from the country."*

![](_page_31_Picture_22.jpeg)

*"The Bellvitge Innovation and Health BioCluster in Barcelona will become a benchmark in biomedicine, with more than 556,000 sqm and 50,000 new jobs created."*

![](_page_31_Picture_24.jpeg)

*"Grifols will invest €360 million in its new industrial center in Barcelona, strengthening its plasma-based therapy production capabilities*

![](_page_31_Picture_26.jpeg)

*"Globant to invest €250 million in Madrid for its new artificial intelligence innovation center, reinforcing the city's role as a growing tech hub in Europe."*

![](_page_31_Picture_28.jpeg)

*"Pfizer will invest €100 million in Madrid to expand its pharmaceutical manufacturing capabilities, strengthening the city's position as a key production hub in Europe."*

#### *Barcelona*

![](_page_31_Picture_31.jpeg)

#### **Corporate ecosystems**

*5th European startup hub in tech #34 in science output worldwide (#8 in Europe)*

- ✓ *1,350+ S&I companies (Catalonia)*
- ✓ *75% of all clinical trials in Spain*
- **R&D Investment**
- ✓ *€1,025m FDI*
- ✓ *€130m budget for 2024-27*

**S&I Education**

*st in # of S&I students in Spain*

✓ *52,000+ S&I students* 

#### **Infrastructure**

✓ *58 hospitals, 91 research institutions and 12 universities*

## Diversified tenant base with best in class in innovation names

![](_page_32_Figure_3.jpeg)

## Ecosystem with high growth tenants already in place

![](_page_33_Figure_3.jpeg)

![](_page_33_Figure_4.jpeg)

*Sources: Eurostat, Statista, CW, Moody's, McKinsey, EU Commission*

## A leading sponsor with contrasted experience in consolidation of RE platforms

*Stoneshield is a highly reputable sponsor with a differentiated investment approach and superior sourcing capabilities leading to consistent returns*

| Stoneshield DNA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Differentiated Investment Approach                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |  |  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|
| Seasoned investor in real estate assets and real estate related corporates, with<br>a distinct focus in Southern Europe                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Thematic investing in supply-constrained and recession-resistant sectors by<br>leveraging vertically integrated real estate platforms                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  |  |  |
| ▪<br>DNA -<br>Disciplined, bottom-up underwriting with emphasis on acquiring assets at a<br>discount to market with prudent use of leverage (<50% LTV)<br>▪<br>VALUE CREATION -<br>Expertise in transforming assets into institutional-quality<br>products, focusing on supply-constrained sectors<br>▪<br>PROVEN TRACK RECORD -<br>Opportunistic funds I and II are highly ranked in Europe,<br>oversubscribed at their hard caps and prioritize prudent leverage<br>✓<br>Fund III closing at €750 million in Q1 2024<br>✓<br>Stoneshield has been recognized as PERE's top 100 global ranking and #1 in<br>Southern Europe as most successful fundraising franchise over past 5 years | ▪<br>Superior sourcing capabilities in Iberia through deeply established local relationships,<br>having underwritten >€100bn of Iberian real estate<br>▪<br>On-the-ground team with the ability to execute smaller ticket deals in an agile manner<br>and aggregate them into platforms<br>FULL SPECTRUM OF<br>OPPORTUNISTIC<br>PLATFORMS<br>RE CAPACITIES<br>Expert execution converting<br>Strong track record of market<br>First mover advantage with proof<br>impaired assets into institutional<br>aggregation/consolidation through<br>of-concept in each high-conviction<br>core like product<br>M&A in portfolio companies<br>target sector<br>Leading investor in Operational real estate |  |  |  |
| ▪<br>INVESTOR SUPPORT -<br>Backed by institutional investors from North America, EMEA<br>and Asia<br>EXPERIENCED TEAM -<br>Successful €10bn+ realized track record in Spain and over €3.0bn raised for                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | ▪<br>Scaled a platform registering c.78% gross IRR / 2.0x<br>DATA CENTERS<br>equity multiple for Stoneshield's investors<br>▪<br>Stake owner of major homebuilder, Neinor<br>Homes.<br>LIVING<br>▪<br>c.€1bn market cap with c.2,500 units delivered                                                                                                                                                                                                                                                                                                                                                                                                                                               |  |  |  |
| discretionary funds, with €100m+ GP commitment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | annually<br>▪<br>Consolidated Iberian leader with a >€1bn platform<br>STUDENT HOUSING<br>▪<br>>50 PBSA schemes and >10k beds across 20 cities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |  |  |
| Juan Pepa<br>Felipe Morenés<br>Founding Partner<br>Founding Partner<br>Specialized Teams                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | ▪<br>Pioneer in the sector taking up over 30%+ of the<br>SCIENCE &<br>Spanish market through a portfolio of 22 buildings with<br>INNOVATION<br>a total value of c.€370m                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |  |  |  |
| Operations<br>Investment<br>Platforms                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | ▪<br>c. €150m, committed capital and a growth path to<br>INDUSTRIAL<br>become a €1bn platform in the next 3 years                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  |  |  |

**Source:** Company and public information.

![](_page_35_Picture_0.jpeg)

![](_page_35_Picture_1.jpeg)

© 2025 Colonial www.inmocolonial.com