AI assistant
DEXUS — Capital/Financing Update 2007
Jul 18, 2007
64807_rns_2007-07-18_628c061b-ea8f-4012-a3ec-7c7289d6e9ac.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [191 x 48] intentionally omitted <==
19 July 2007
The Manager Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000
DB RREEF Funds Management Limited ABN 24 060 920 783 Australian Financial Services Licence Holder Level 9 343 George Street Sydney NSW 2000 PO Box R1822 Royal Exchange NSW 1225 Telephone 61 2 9017 1100 Direct 61 2 9017 1266 Facsimile 61 2 9017 1132
Email: [email protected]
Dear Sir/Madam
– DB RREEF Trust (ASX: DRT) San Antonio Texas, USA industrial acquisition
DB RREEF Funds Management Limited, as responsible entity for DB RREEF Trust (DRT), provides the following update on the acquisition of an industrial portfolio in San Antonio Texas USA.
Please find attached a press release, and an update to the DRT December 2006 Property Synopsis.
For further information, please contact
-
Fund Manager – DB RREEF Trust:
-
Investor Relations:
Ben Lehmann (02) 9017 1266 Karol O’Reilly (03) 8611 2930
Yours sincerely
Tanya Cox Company Secretary
19 July 2007
DB RREEF Trust (“DRT”) acquires an industrial portfolio in San Antonio, Texas, USA.
DB RREEF Trust has exchanged contracts to acquire a strategic US$57.5 (A$67.8) million portfolio of high quality, newly constructed industrial properties and has entered into a joint venture with Santa Barbara Development Services (SBDC) to develop an additional approximately US$95.5 (A$112.7) million of industrial property in San Antonio, Texas. San Antonio is the seventh largest city in the USA, with a thriving local economy and strong property fundamentals, with demand exceeding supply and rental growth projected to continue.
The transaction will be funded by utilising DRT’s existing debt facilities.
Victor Hoog Antink, DB RREEF’s Chief Executive Officer, said “The acquisition is consistent with DRT’s plans to expand our international portfolio further in the industrial and office sectors and grow our development pipeline - this adds to our US$1.1 (A$1.3) billion portfolio of properties/developments in the United States. This opportunity was sourced and secured through our international real estate strategic partner RREEF.”
Acquisition of existing properties:
DRT will acquire an existing industrial portfolio which comprises seven properties containing 10 buildings totalling approximately 1,047,000 square feet (97,269 square metres) in various locations in San Antonio, Texas for US$57.5 (A$67.8) million plus acquisition costs. The portfolio includes warehouse, office/service, flex and rail-served industrial property. The majority of buildings are either recently constructed or currently completing construction with anticipated completion in the September quarter of 2007.
Occupancy of the completed properties is 77 per cent with an average lease duration of 7.7 years. The remaining properties under construction are already 52% leased. The anticipated stabilised yield on cost for the existing portfolio is anticipated to be 8%.
The development portfolio:
In addition to acquiring the existing portfolio, DRT will enter into a joint venture with SBDS (DRT 96.5%, SBDC 3.5%) that will see the acquisition and development of 95 acres (38.4 hectares) of land in two stages.
-
Stage 1: will see the development of eight buildings totalling approximately 660,000 square feet (61,316 square metres) for an estimated cost of US$44.2 (A$52.2) million over the next 2 years on land that will be acquired in the next two weeks;
-
Stage 2: an option to purchase additional land and develop eight buildings totalling approximately 890,000 square feet (82,683 square metres) for an estimated cost of US$51.3 (A$60.5) million.
When completed in 2012 the development portfolio will comprise 16 buildings totalling 1,550,652 square feet (144,060 square metres) located throughout various submarkets in San Antonio with an anticipated cost of US$95.5 (A$112.7) million. The buildings to be developed include warehouse, office/service, flex and rail-served industrial property.
All the existing properties and the development properties are located within five business parks strategically located with good access to/from major thoroughfares serving San Antonio.
SBDC will be the local operating partner in the joint venture. SBDC is a San Antonio-based, fully integrated real estate operating company whose principals have an established track record of developing over 12 million square feet (111,4837 square metres) of corporate facilities and industrial developments in Texas and Mexico. On DRT’s behalf, RREEF will oversee the development process and ongoing management of the portfolio.
“We have structured the joint venture partnership so that DRT has exclusive access to SBDC’s local development land pipeline. This provides the potential for us to grow the joint venture further through select new developments and portfolio acquisitions taking advantage of enhanced return opportunities with an experienced local developer in this attractively located, growing market,” Mr Hoog Antink said.
An updated Property Synopsis for this portfolio is attached and can also be found on the DB RREEF web site: www.dbrreef.com .
For further information, please contact:
Chief Executive Officer Victor Hoog Antink (02) 9017 1130 Fund Manager – DB RREEF Trust Ben Lehmann (02) 9017 1266 Investor Relations Karol O’Reilly (03) 8611 2930
About DB RREEF
DB RREEF is one of Australia's largest integrated property groups, with total funds under management as at 31 December 2006 of approx A$13.0 billion. The listed property portfolio (DRT) comprises approx A$8.7 billion of direct property assets in Australia, New Zealand, the United States and Europe. The unlisted portfolio comprises approximately A$4.3 billion of domestic assets. DB RREEF is committed to the longterm integration of sustainability practices throughout its property portfolio. www.dbrreef.com
Background information on San Antonio, Texas, USA
The city of San Antonio, Texas is the seventh largest city in the US with a current population of nearly 2.0 million, an employment base of 836,000 and strong demographic trends. San Antonio is a large and growing metropolitan area, benefiting from a diverse economy of manufacturing, business services, government, education and health services and is increasingly attractive to logistical/industrial companies moving in to take advantage of the extensive transport networks. Economic growth is above the national US average (averaging 3.6% vs. 2.9%) and this trend is expected to continue. Property fundamentals are also strong with demand exceeding supply and rent growth projected to continue.
San Antonio is strategically located to take advantage of major transport links and main regional and national distribution routes to central US states and nationally via the major east-west interstate route I- 10 and North through to Canada. Its proximity to the Mexico border and the I-35 NAFTA highway facilitates cross-border business south into Mexico. Two thirds of US-Mexico cross border trade moves through San Antonio.
==> picture [244 x 217] intentionally omitted <==
----- Start of picture text -----
San Antonio
----- End of picture text -----
DB RREEF Trust San Antonio Industrial Portfolio July 2007
==> picture [595 x 473] intentionally omitted <==
DB RREEF Trust San Antonio Property Synopsis 2007
Existing property portfolio[1]
==> picture [595 x 588] intentionally omitted <==
----- Start of picture text -----
8161 Interchange Parkway, San Antonio
----- End of picture text -----
1 Purchase of the existing property portfolio will be conducted in 3 stages with the first closing in July 2007 and completion of acquisition expected in October 2007.
DB RREEF Trust San Antonio Property Synopsis July 2007
==> picture [168 x 160] intentionally omitted <==
==> picture [169 x 160] intentionally omitted <==
Cornerstone Building 2, 1228 Cornerway Boulevard, San Antonio
Cornerstone Building 1, 5411 Interstate 10 East, San Antonio
Cornerstone Building 1 is a 108,000sf, multitenant designed office/warehouse facility on 6.10 acres. The building features concrete tilt-wall panels, a standing seam metal roof system, ESFR sprinklers, 30’ clear height, 120’ concrete truck courts and 50 dock high overhead doors. 78 parking spaces are available for tenants. The building is currently under construction with completion expected by August 2007.
Cornerstone Building 2 is a 180,000sf, multi-tenant designed office/warehouse facility on 11.02 acres. The building features concrete tilt-wall panels, a standing seam metal roof system, ESFR sprinklers, 30’ clear height, 120’ concrete truck courts and 54 dock high overhead doors. 243 parking spaces are available for tenants. The building is currently under construction with completion expected by August 2007.
==> picture [160 x 159] intentionally omitted <==
402 Tayman Road, Port of San Antonio - Site 1
Port of San Antonio Site 1 is a four building, 56,000sf rail trans-load facility located on 12.6 acres. 7.3 acres of the total site are used as a lay-down yard. The buildings feature steel and concrete construction with metal roofing systems, ESFR sprinkler systems, 16’ clear heights, 120’ truck courts and a total of 100 dock high and grade level doors.
| Details Building Type Warehouse/Distribution Ownership (%) 100 Title Fee Simple Zoning Industrial Year Built 2007 (under construction) Site Area (acres) 6.10 Lettable area (’000sf) 108.0 Site Coverage (%) 41 Number of Buildings 1 Number of Suites TBD Average Suite Size (’000sf) TBD Office Content (%) 10 Parking Space 78 Acquisition Date August 2007 Purchase Price (excl. acq. costs) (US$’m) 5.00 Book Value ($’m) Independent Valuation Date Independent Valuation (US$’m) Exit Capitalisation Rate (%) 7.50 Average Passing Rent (US$/m2) 0.00 Average Market Rent (US$/m2) 4.15 Discount Rate (%) Major Tenant TBD Occupancy (%) 0 Weighted Lease Term by Income (years) Available (%) 100 Year 2007 (%) 0 Year 2008 (%) 0 Year 2009 (% 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 |
Details Building Type Warehouse/Distribution Ownership (%) 100 Title Fee Simple Zoning Industrial Year Built 2007 (under construction) Site Area (acres) 11.02 Lettable area (’000sf) 180.0 Site Coverage (%) 38 Number of Buildings 1 Number of Suites TBD Average Suite Size (’000sf) TBD Office Content (%) 10 Parking Space 243 Acquisition Date August 2007 Purchase Price (excl. acq. costs) (US$’m) 8.25 Book Value ($’m) Independent Valuation Date Independent Valuation (US$’m) Exit Capitalisation Rate (%) 7.50 Average Passing Rent (US$/m2) 0.00 Average Market Rent (US$/m2) 4.15 Discount Rate (%) Major Tenant TBD Occupancy (%) 0 Weighted Lease Term by Income (years) Available (%) 100 Year 2007 (%) 0 Year 2008 (%) 0 Year 2009 (% 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 |
Details Building Type Warehouse/Distribution Ownership (%) 100 Title Fee Simple |
|---|---|---|
Zoning Industrial Year Built 1965/2006 Site Area (acres) 12.60 Lettable area (’000sf) 56.0 Site Coverage (%) 10 Number of Buildings 4 Number of Suites 4 Average Suite Size (’000sf) 14.0 Office Content (%) 0 Parking Space 38 Acquisition Date July 2007 Purchase Price (excl. acq. costs) (US$’m) 2.30 Book Value ($’m) Independent Valuation Date Independent Valuation (US$’m) Exit Capitalisation Rate (%) 7.50 Average Passing Rent (US$/m2) 3.42 Average Market Rent (US$/m2) 3.50 Discount Rate (%) Major Tenant Rail Link International Inc Occupancy (%) 100 Weighted Lease Term by Income (years) Available (%) 0 Year 2007 (%) 0 Year 2008 (%) 0 Year 2009 (% 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2012 (%) 100 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 |
==> picture [595 x 61] intentionally omitted <==
DB RREEF Trust San Antonio Property Synopsis July 2007
==> picture [167 x 163] intentionally omitted <==
==> picture [173 x 160] intentionally omitted <==
==> picture [167 x 159] intentionally omitted <==
1803 Grandstand Avenue, Alamo Downs
302 Tayman Road, Port of San Antonio - Site 2
8151 Interchange Parkway, San Antonio
Port of San Antonio Site 2 is a 360,000sf, multitenant office/warehouse facility on 17.03 acres. The building features concrete tilt-wall panel construction, a standing seam metal roofing system, ESFR sprinkler system, 30’ clear height, 120’ concrete truck court and 180 dock high and rail doors and 2 drive-in doors. Parking for 122 cars will be provided. The building is currently under construction with completion expected by October 2007.
Alamo Downs is a 133,500sf, multi-tenant office/warehouse facility located on 8.50 acres. The building features concrete tilt-wall panel construction, a standing seam metal roofing system, ESFR sprinkler system, 24’ clear height, 120’ truck court and 17 dock high overhead doors and 1 overhead door ramp. Parking for 216 cars will be provided. The building is currently under construction with completion expected by August 2007.
8151 Interchange Parkway is a 72,000sf, multitenant office/warehouse facility located on 6.42 acres. The building features concrete tilt-wall panel construction, a 45 mil TPO roofing system, ESFR sprinkler system, 24’ clear height, 105’ truck court and 17 dock high overhead doors and 2 drive-in doors. Parking for 216 is provided. The building was built in 2006.
| Details Building Type Warehouse/Distribution Ownership (%) 100 Title Fee Simple Zoning Industrial Year Built 2007 (under construction) Site Area (acres) 17.03 Lettable area (’000sf) 360.0 Site Coverage (%) 49 Number of Buildings 1 Number of Suites 3 Average Suite Size (’000sf) 120.0 Office Content (%) 2 Parking Space 122 Acquisition Date October 2007 Purchase Price (excl. acq. costs) (US$’m) 15.75 Book Value ($’m) Independent Valuation Date Independent Valuation (US$’m) Exit Capitalisation Rate (%) 7.50 Average Passing Rent (US$/m2) 3.57 Average Market Rent (US$/m2) 3.50-4.00 Discount Rate (%) Major Tenant Fiesta Distributing, Rail Link Intl. Occupancy (%) 79 Weighted Lease Term by Income (years) Available (%) 21 Year 2007 (%) 0 Year 2008 (%) 0 Year 2009 (% 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2012 (%) 29 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 50 |
Details Building Type Office/Service Ownership (%) 100 Title Fee Simple Zoning Industrial Year Built 2007 (under construction) Site Area (acres) 8.50 Lettable area (’000sf) 133.5 Site Coverage (%) 36 Number of Buildings 1 Number of Suites 3 Average Suite Size (’000sf) 44.5 Office Content (%) 23 Parking Space 216 Acquisition Date August 2007 Purchase Price (excl. acq. costs) (US$’m) 10.75 Book Value ($’m) Independent Valuation Date Independent Valuation (US$’m) Exit Capitalisation Rate (%) 7.50 Average Passing Rent (US$/m2) 6.68 Average Market Rent (US$/m2) 6.25-7.25 Discount Rate (%) Major Tenant Twigland Fashions Occupancy (%) 72 Weighted Lease Term by Income (years) Available (%) 28 Year 2007 (%) 0 Year 2008 (%) 0 Year 2009 (% 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2012 (%) 42 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 30 |
Details Building Type Flex Ownership (%) 100 Title Fee Simple |
|---|---|---|
Zoning Industrial Year Built 2006 Site Area (acres) 6.42 Lettable area (’000sf) 72.0 Site Coverage (%) 26 Number of Buildings 1 Number of Suites 2 Average Suite Size (’000sf) 36.0 Office Content (%) 75 Parking Space 216 Acquisition Date July 2007 Purchase Price (excl. acq. costs) (US$’m) 8.00 Book Value ($’m) Independent Valuation Date Independent Valuation (US$’m) Exit Capitalisation Rate (%) 7.50 Average Passing Rent (US$/m2) 9.80 Average Market Rent (US$/m2) 8.00-100.00 Discount Rate (%) Major Tenant Fidelity Information Services Ltd Occupancy (%) 75 Weighted Lease Term by Income (years) Available (%) 25 Year 2007 (%) 0 Year 2008 (%) 0 Year 2009 (% 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2013 (%) 75 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 |
==> picture [595 x 61] intentionally omitted <==
DB RREEF Trust San Antonio Property Synopsis July 2007
==> picture [170 x 161] intentionally omitted <==
8161 Interchange Parkway, San Antonio
8161 Interchange Parkway is a 137,500sf, multitenant office/warehouse facility located on 7.3 acres. The building features concrete tilt-wall panel construction, a 45 mil TPO roofing system, ESFR sprinkler system, 24’ clear height, 120’ truck court and 20 dock high and semi-dock high overhead doors. Parking for 216 cars is provided. The building was built in 2006.
Details
| Details | ||||
|---|---|---|---|---|
| Building Type | Warehouse/Distribution | |||
| Ownership (%) | 100 | |||
| Title | Fee | Simple | ||
| Zoning | Industrial | |||
| Year Built | 2006 | |||
| Site Area (acres) | 7.30 | |||
| Lettable area (’000sf) | 137.5 | |||
| Site Coverage (%) | 43 | |||
| Number of Buildings | 1 | |||
| Number of Suites | 3 | |||
| Average Suite Size (’000sf) | 45.8 | |||
| Office Content (%) | 12 | |||
| Parking Space | 216 | |||
| Acquisition Date | July 2007 | |||
| Purchase Price (excl. | acq. | costs) (US$’m) | 8.00 | |
| Book Value ($’m) | ||||
| Independent Valuation Date | ||||
| Independent Valuation (US$’m) | ||||
| Exit Capitalisation Rate (%) | 7.50 | |||
| Average Passing Rent | (US$/m2) | 5.13 | ||
| Average Market Rent | (US$/m2) | 4.00-4.25 | ||
| Discount Rate (%) | ||||
| Major Tenant | Lancer FBD Partnership Ltd | |||
| Occupancy (%) | 77 | |||
| Weighted Lease Term by Income (years) | ||||
| Available (%) | 23 | |||
| Year 2007 (%) | 0 | |||
| Year 2008 (%) | 0 | |||
| Year 2009 (% | 0 | |||
| Year 2010 (%) | 0 | |||
| Year 2011 (%) | 31 | |||
| Year 2012 (%) | 0 | |||
| Year 2013 (%) | 0 | |||
| Year 2014 (%) | 0 | |||
| Year 2015 (%) | 0 | |||
| Year 2016+ (%) | 45 |
==> picture [595 x 61] intentionally omitted <==
DB RREEF Trust San Antonio Property Synopsis July 2007
Development portfolio
==> picture [561 x 422] intentionally omitted <==
==> picture [595 x 61] intentionally omitted <==
DB RREEF Trust San Antonio Property Synopsis July 2007
Development - Phase 1[2]
==> picture [163 x 137] intentionally omitted <==
8171 Interchange Parkway, San Antonio
8171 Interchange is a 38,500sf to-be-built concrete tilt-wall office/warehouse building ideally located near the interchange of I-35 and I-410. The building will feature ESFR sprinklers, standing seam metal roof and 161 car parking spaces.
Details
| Details | ||
|---|---|---|
| Zoning | I-1 general industrial | |
| Land area (acres) | 3.02 | |
| Site coverage % | 29.3 | |
| Net lettable area | (’000sf) | 38.5 |
| Construction type | Type II-B concrete tilt up |
|
| Car spaces | 161 | |
| Office content % | 75 |
==> picture [163 x 127] intentionally omitted <==
Building 1 Interchange North, 3003 NE Loop 410, San Antonio
Interchange N1 is a 88,875sf to-be-built concrete tilt-wall office/warehouse building with excellent visibility from Loop 410. The building will feature ESFR sprinklers, 24’ clear height and 150 car parking spaces.
Details
==> picture [161 x 137] intentionally omitted <==
8181 Interchange Parkway, San Antonio
8181 Interchange is a 43,000sf to-be-built concrete tilt-wall office/warehouse building ideally located near the interchange of I-35 and I-410. The building will feature ESFR sprinklers, Standing Seam Metal roof and 167 car parking spaces.
Details
| Details | ||
|---|---|---|
| Zoning | I-1 general industrial | |
| Land area (acres) | 3.00 | |
| Site coverage % | 32.9 | |
| Net lettable area | (’000sf) | 43.0 |
| Construction type | Type II-B concrete tilt up |
|
| Car spaces | 167 | |
| Office content % | 75 |
==> picture [156 x 139] intentionally omitted <==
202 Tayman Road, Port of San Antonio - Site 3
202 Tayman Road located at the Port of San Antonio, is a 275,400sf to-be-built concrete tiltwall distribution warehouse building. The building benefits from immediate rail access to the facility and will feature 17 rail dock doors, 30’ clear height and ESFR sprinklers.
Details
==> picture [153 x 135] intentionally omitted <==
8191 Interchange Parkway, San Antonio
8191 Interchange is a 42,000sf to-be-built concrete tilt-wall office/warehouse building ideally located near the interchange of I-35 and I- 410. The building will feature ESFR sprinklers, standing seam metal roof and 102 car parking spaces.
Details
| Details | ||
|---|---|---|
| Zoning | I-1 general industrial | |
| Land area (acres) | 2.30 | |
| Site coverage % | 41.9 | |
| Net lettable area | (’000sf) | 42.0 |
| Construction type | Type II-B concrete tilt up |
|
| Car spaces | 102 | |
| Office content % | 60 |
==> picture [150 x 136] intentionally omitted <==
Tri-County Business Park, Building 2, Schertz, San Antonio
Tri-County Building 2 is conveniently located along I-35 via SR 3009 in the Tri-County Business Park and is a 80,000sf to-be-built concrete tilt-wall office/warehouse building The building will feature ESFR sprinklers, 120’ truck courts.
Details
| Details | Details | Details |
|---|---|---|
| Zoning I-1 general industrial Land area (acres) 5.57 Site coverage % 36.6 Net lettable area (’000sf) 88.9 Construction type Type II-B concrete tilt up Car spaces 150 Office content % 75 |
Zoning I-1 general industrial Land area (acres) 10.27 Site coverage % 63.0 Net lettable area (’000sf) 275.4 Construction type Type II-B concrete tilt up Car spaces Office content % 5 |
Zoning M1–light manufacturing district |
Land area (acres) 5.83 |
||
Site coverage % 31.5 |
||
Net lettable area (’000sf) 80.0 |
||
Construction type Type II-B concrete tilt up |
||
Car spaces 108 |
||
Office content % 10 |
2 Phase 1 Development land parcels will be purchased at the first closing in July 2007, with construction due to commence in January 2008.
DB RREEF Trust San Antonio Property Synopsis July 2007
Development - Phase 1
==> picture [172 x 132] intentionally omitted <==
Tri-County Business Park, Building 5, Schertz, San Antonio
Tri-County Building 5 conveniently located along I-35 via SR 3009 in the Tri-County Business Park, is a 35,700sf to-be-built concrete tilt-wall office/warehouse building. The building will feature ESFR sprinklers, 120’ truck courts and cater to smaller users.
==> picture [117 x 144] intentionally omitted <==
Tri-County Business Park, Building 6, Schertz, San Antonio
Tri-County Building 6 also within the wellestablished Tri-County Business Park, is a 56,105sf to-be-built concrete tilt-wall office/warehouse building The building will feature ESFR sprinklers, 120’ truck courts and 12 truck doors.
| Details Zoning M1–light manufacturing district Land area (acres) 2.94 Site coverage % 27.8 Net lettable area (’000sf) 35.7 Construction type Type II-B concrete tilt up Car spaces 57 Office content % 40 |
Details Zoning M1–light manufacturing district |
|---|---|
Land area (acres) 4.10 |
|
Site coverage % 31.4 |
|
Net lettable area (’000sf) 56.1 |
|
Construction type Type II-B concrete tilt up |
|
Car spaces 130 |
|
Office content % 25 |
==> picture [595 x 61] intentionally omitted <==
DB RREEF Trust San Antonio Property Synopsis July 2007
Development - Phase 2[3]
==> picture [168 x 131] intentionally omitted <==
Cornerstone 3, 1310 Cornerway Boulevard, San Antonio
Cornerstone 3 located near the interchange of I-10 and Loop 410 with direct frontage on I-10, is a 108,800sf to-be-built concrete tilt-wall warehouse building. The building will feature ESFR sprinklers, 120’ truck courts a, 126 car parking spaces with 8 truck-doors plus knock-out panels.
| panels. | ||
|---|---|---|
| Details | ||
| Zoning | I-1 General Industrial | |
| Land area (acres) | 6.11 | |
| Site coverage % | 40.6 | |
| Net lettable area | (’000sf) | 108.8 |
| Construction type | Type II-B concrete tilt up |
|
| Car spaces | 126 | |
| Office content % | 5 |
==> picture [162 x 134] intentionally omitted <==
Cornerstone 4, 5410 Dietrich Road, San Antonio
Cornerstone 4 is also located near the interchange of I-10 and Loop 410 with direct frontage on I-10 . It is a 143,000sf to-be-built concrete tilt-wall warehouse building. The building will feature ESFR sprinklers, 120’ truck courts a, 188 car parking spaces with 8 truckdoors plus knock-out panels.
Details
| Details | ||
|---|---|---|
| Zoning | I-1 General Industrial | |
| Land area (acres) | 6.80 | |
| Site coverage % | 48.6 | |
| Net lettable area | (’000sf) | 143.0 |
| Construction type | Type II-B concrete tilt up |
|
| Car spaces | 188 | |
| Office content % | 5 |
==> picture [166 x 133] intentionally omitted <==
Building N2 & N3, Interchange North, San Antonio
Interchange N2 & N3 comprise 127,500sf in two (2) to-be-built concrete tilt-wall office/warehouse buildings with excellent visibility from Loop 410. The buildings will feature ESFR sprinklers, 24’ clear height and 148 total car parking spaces.
Details
| Details | ||
|---|---|---|
| Zoning | I-1 General Industrial | |
| Land area (acres) | 12.51 | |
| Site coverage % | 23.5 | |
| Net lettable area | (’000sf) | 127.5 |
| Construction type | Type II-B concrete tilt up |
|
| Car spaces | 70/78 | |
| Office content % | 75 |
==> picture [157 x 138] intentionally omitted <==
102 Tayman Road, Port of San Antonio – Site 4
102 Tayman Road is located at the Port of San Antonio and is a 275,400sf to-be-built concrete tilt-wall distribution warehouse building. The building benefits from immediate rail access to the facility and will feature 17 rail dock doors, 30’ clear height and ESFR sprinklers.
Details
| Details | ||
|---|---|---|
| Zoning | M1–light manufacturing district | |
| Land area (acres) | 12.40 | |
| Site coverage % | 52.6 | |
| Net lettable area | (’000sf) | 275.4 |
| Construction type | Type II-B concrete tilt up |
|
| Car spaces | ||
| Office content % | 5 |
==> picture [159 x 134] intentionally omitted <==
Tri-County Business Park, Building 1, Schertz, San Antonio
Tri-County Building 1 conveniently located along
I-35 via SR 3009 in the Tri-County Business Park, is a 140,000sf to-be-built concrete tilt-wall warehouse building. The building will feature ESFR sprinklers, 120’ truck courts and 5% office build-out.
Details
| Details | ||
|---|---|---|
| Zoning | M1–light manufacturing district | |
| Land area (acres) | 13.80 | |
| Site coverage % | 19.9 | |
| Net lettable area | (’000sf) | 140.0 |
| Construction type | Type II-B concrete tilt up |
|
| Car spaces | ||
| Office content % | 5 |
Photo not available
Tri-County Business Park, Building 3, Schertz, San Antonio
Tri-County Building 3 is also located along I-35 in the Tri-County Business Park, is a 38,150sf to-bebuilt concrete tilt-wall warehouse building The building will feature ESFR sprinklers, 120’ truck courts and 10% office build-out.
Details
| Details | ||
|---|---|---|
| Zoning | M1–light manufacturing district | |
| Land area (acres) | 2.58 | |
| Site coverage % | 33.9 | |
| Net lettable area | (’000sf) | 38.2 |
| Construction type | Type II-B tilt wall steel frame |
|
| Car spaces | 124 | |
| Office content % | 10 |
3 The option for purchasing Phase 2 land is an eight month option from the initial closing date, contingent upon achieving a return on cost equal to or above the pro-forma, with mutually agreed upon market rents and developer providing cost guarantees.
DB RREEF Trust San Antonio Property Synopsis July 2007
Development - Phase 2
Photo not available
Photo not available
Tri-County Business Park, Building 4A, Schertz, San Antonio
Tri-County Building 4A conveniently located along I-35 via SR 3009 in the Tri-County Business Park, is a 35,700sf to-be-built concrete tilt-wall office/warehouse building The building will feature ESFR sprinklers, 120’ truck courts.
Tri-County Business Park, Building 4B, Schertz, San Antonio
Tri-County Building 4B located adjacent to building 4A in the well-established Tri-County Business Park, is a 22,522sf to-be-built concrete tilt-wall office/warehouse building The building will feature ESFR sprinklers, 120’ truck courts.
| Details Zoning M1–light manufacturing district Land area (acres) 2.71 Site coverage % 25.5 Net lettable area (’000sf) 35.7 Construction type Type II-B concrete tilt up Car spaces Office content % 75 |
Details Zoning M1–light manufacturing district |
|---|---|
Land area (acres) 1.70 |
|
Site coverage % 43.1 |
|
Net lettable area (’000sf) 22.5 |
|
Construction type Type II-B concrete tilt up |
|
Car spaces |
|
Office content % 50 |
==> picture [595 x 61] intentionally omitted <==
DB RREEF Trust San Antonio Property Synopsis July 2007
directory
DB RREEF Diversified Trust ARSN 089 324 541 DB RREEF Industrial Trust ARSN 090 879 137 DB RREEF Office Trust ARSN 090 768 531 DB RREEF Operations Trust ARSN 110 521 223
responsible entity
DB RREEF Funds Management Limited ABN 24 060 920 783
registered office of responsible entity
Level 9, 343 George Street Sydney NSW 2000 PO Box R1822 Royal Exchange NSW 1225 Phone: 61 2 9017 1100 Fax: 61 2 9017 1101
investor enquiries
Email: [email protected] Freecall: 1800 819 675 Phone: 61 2 8280 7126 Website: www.dbrreef.com
security registry
Link Market Services Level 12, 680 George Street Sydney NSW 2000 Locked Bag A14 Sydney South NSW 2000 Phone: 61 2 8280 9126 Freecall: 1800 819 675 Fax: 61 2 9287 0303 Email: [email protected] Website: www.linkmarketservices.com.au
For enquiries regarding your holding you can either contact the security registry or access your holding details via the web at www.dbrreef.com and follow the links.
Listed on the Australian Stock Exchange ASX Code: DRT
InfoLine 1800 819 675 Monday to Friday between 8.30am and 5.30pm (EST)
==> picture [595 x 61] intentionally omitted <==
DB RREEF Trust San Antonio Property Synopsis July 2007