May 2018
TRASTOR REIC Corporate Presentation May 2018 Disclaimer Dis This - - PowerPoint PPT Presentation
TRASTOR REIC Corporate Presentation May 2018 Disclaimer Dis This - - PowerPoint PPT Presentation
TRASTOR REIC Corporate Presentation May 2018 Disclaimer Dis This presentation has been produced and issued by TRASTOR only and are subject to change without fluctuations; volatility in the securities markets; To this regard, we further note
2
To this regard, we further note that: a) TRASTOR and/or other companies of the group may have provided or may currently or in the future provide financial, consulting and financing services to the companies and/or any of their subsidiaries and received or will receive remuneration for the rendering of such services and b) in their ordinary course of business of TRASTOR and/or any of the
- ther companies of the group may, at any time,
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- TRASTOR. Any potential investor, prior to entering
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- wed by TRASTOR or any of its connected persons
- r any other person in relation to this presentation.
The information contained in this presentation (inclusive of oral remarks and explanations) is based on historic data as well as estimates of the future development of the market. In relation with the historical business and financial data provided, TRASTOR has assumed and relied upon, without independent verification, the fact that this information has been gathered in an appropriate and acceptable way based on uninterruptedly applicable standards and portrays with precision and completeness the true and fair business and financial status of the companies (in all respects) on the date they refer to. With respect to the future performance of the companies TRASTOR has assumed that all financial and other forecasts provided, have been prepared on a basis reflecting the best currently available estimates and judgments of the management of the companies, at that date. TRASTOR has based its estimates on analysis which it has worked out with due care and
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- r warranty, express or implied, that any
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- r as to the achievement or reasonableness of
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Dis Disclaimer
3
Tras astor at a a Gla Glance
€ 6.4 mn mn
Annualized Rental Income
6.5 years
WALT
97.2%
Occupancy Rate
6.7%
GRY
#3 #35
Properties
€ 79.5 mn mn
Investment Value
74.2k sqm
GLA
5. 5.9%
NOI Yield
(€’000) 2014 014 2015 015 2016 016 2017 017 Number of Properties 25 25 24 35(1) Revenue 4,249 4,178 3,989 4,169 Investment Properties 74,820 63,053 60,054 79,497 NAV 72,788 63,405 59,500 79,607 NAV per share 1.326 1.155 1.084 0.987 Debt 7,766 5,282 5,282 4,796 LTV ratio 9.8% 8.4% 8.8% 6.4%
✓ Trastor REIC is the first real estate investment company to be established
in Greece under law 2778/99 and it is listed on the Athens Stock Exchange
✓ The company invests in high quality and high yielding assets, with
creditworthy tenants on long-term leases and through active asset management delivers attractive returns to its shareholders
✓ Top qualified management team with deep understanding of the local
market, proven sourcing, execution and value creation track record
✓ In 2017 Trastor raised € 20.2mn of new capital and completed € 19.8mn
asset acquisitions
✓ Strong shareholding base including: Värde Partners (56.0%), Piraeus Bank
(39.4%), Free Float (4.6%)
The e Co Company
(1) as of 30.04.2018
4
(1) Valuation by the independent statutory valuer as of 31 December of each year.
(2) Based on annualized rents as of 31 December of each year (including new leases concluded or new lease agreements in progress)
His istorical al Bac ackground Growth Valu alues
20 2008 08 - 2014 2014 2017 2017 2016 2016 2015 2015
Pa Pasal De Development, a Greek Real Estate firm, acquires a 37% stake and assumes the management of Trastor PB’s shareholding incr ncreases to
- 91.67% through a
debt to equity swap and following a mandatory public
- ffer (Sept 2015).
The Bank assumed the management
- f the company
Vä Värd rde Pa Partn tners acquired a 33.8%
- f the Company
from PB Tras rastor completed a Shar hare Capital Incr ncrease raising €20.2mn and Värde Partners’ stake increased to 56.0%. Värde assumed control
Inves estment ent Va Value ues s (1) (€’mn mn) Gros Gross Yi Yield (2) 5.7% 7%
74.8
5.7% 7% 6.9% 9% 6.6% 6%
Fou
- unded by
by Pi Pirae raeus Bank (“PB”) under the name “Piraeus REIC” and in n 2003 was gran ranted a license to
- perate as a REIC by
Hellenic Capital Market
- Commission. In
n 2005 became the first REIC to be listed on Athens Stock Exchange
19 1999 99 - 2008 2008
59.7 60.0 63.1 19.8
79.5 .5
Rationalization of Investment Values of €15 mn and positioning the Company for sustainable growth
Investment Values on prior year’s asset base Asset Acquisitions
The e Co Company
Key Mil Milestones
5
▪ Trastor REIC is seeking to capitalize on the unique investment opportunities in the Greek real estate market created by the current macro-economic environment, the acute liquidity constraints, and the ensuing deleveraging of the Greek banking sector ▪ Our investment rational focuses on: (i) acquiring core and value added assets at attractive valuations; (ii) working with credible and reputable tenants to support their current business and expansion plans; (iii) repositioning of real estate assets to optimize value; (iv) driving operational and scale efficiencies to increase cash flow and; (v) building a balanced and diversified portfolio ▪ The Company concentrates its investment activity in Greece in the following sectors: (i) Class A and B+ Office; (ii) Prime Retail and; (iii) Logistics. In addition, Trastor is exploring hotel investment opportunities in established tourism destinations ▪ We create investment opportunities by applying our local knowledge and tapping into our extensive banking and business partner relationships to originate deals. We also look to unlock value from situations involving auctions and the restructuring of CRE NPLs ▪ We expect faster resolution of non-performing loans backed by commercial real estate, sale of banks’ non-core assets, and continuing strong performance in tourism ▪ The next 2-3 years present an attractive opportunity to invest in Greek real estate which has suffered significant decline in value (c.55% since 2008)
Tras astor aim aims to
- be
become the the lead eadin ing Gr Gree eek real eal es estate Co Comp mpany
The e Co Company
Investment Ra Ratio ional
6
The e Co Company
Str Strategy Pilla lars
Investm tment Foc
- cus
✓ Acquire core and value added assets at attractive valuations ✓ Working with credible and reputable tenants to support their current business and expansion plans ✓ Repositioning of real estate assets to
- ptimize value
Asset Clas lasses
✓ Class A and B+ Office ✓ High Street Retail ✓ Logistics ✓ Hotels in established tourism destinations
Sourcin ing
✓ Leveraging the team’s local knowledge ✓ Utilising relationships to originate deals ✓ Auctions and foreclosures ✓ Consensual surrenders and debt-for- asset swaps in collaboration with creditor banks ✓ Cooperation with NPL service platforms
7
CRE Se Sector Prime Re Rents Su Supply Demand Prime Yields
Office Retail Industrial
…creating opportunities in the Greek real estate market …while the real estate market offers attractive yields
4% 6% 8% 10% 12% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Prime e Gr Gross
- ss Yiel
elds(
Office Retail Industrial
Gree reek gov
- vern
rnment bon bond yields stabilize... Gree reek econ
- nomy re
retu turns to
- sus
ustainable gro rowth th...
Of Office Re Retail Indu ndust strial
10y Average 8. 8.1% 7. 7.1% 10. 10.3% Low 6. 6.3% 5. 5.3% 8. 8.3% Current 8. 8.0% 6. 6.9% 10. 10.2% 3.3 (0.3) (4.3) (5.5) (9.1) (7.3) (3.2) 0.4 (0.2) 0.0 1.8 2.6 1.9 1.9
- 10
- 8
- 6
- 4
- 2
2 4
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018(F)2019(F)2020(F)
Re Real GD GDP
Source: Bloomberg, IMF, Trastor REIC
The e Market
Out Outlo look
5 10 15 20 25 30 35 40
Jan-07 Oct-07 Jul-08 Apr-09 Jan-10 Oct-10 Jul-11 Apr-12 Jan-13 Oct-13 Jul-14 Apr-15 Jan-16 Oct-16 Jul-17 Apr-18
10y 0y GGB GGB Yiel eld
8 14% 14%
- 30%
- 20%
- 10%
0% 10% 20% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Yield Appreciation Total Return
687 687 303 303 178 178 326 326 548 548
2013 2014 2015 2016 2017
Ma Market t Overview
➢
In 2017 total investment volume reached €548 548mn mn which is 68%(1) more than the year before and CRE Prime Yields have converted to their 10Yr average level
➢
Greek eek RE REICs ac accou
- unt
nt for for 38 38% (€209 209mn) of
- f tot
- tal
al tran ansa saction vol
- lum
ume targeting the whole CRE spectrum while private activity has mainly targeted Hotels and Retail assets
➢
The hospitality sector accounts for the bulk of the transaction volume (43%) followed by retail (41%) and the office (16%) sectors
➢
Retail and office income producing properties have transacted at GRY range of 6.8% - 9.9% while 4-star resorts have exchanged at an average price of c.95k per room
➢
There is room for further capital appreciation of 30% from yield compression towards to 2008 level excluding rental growth
Inv nvestment Vol Volume (2013 - 2017)
(1)Excluding Asteras project announced in 2016 (€400mn)(€mn) 400 400(1) 16% 16%
- 20%
- 10%
0% 10% 20% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
22% 22%
- 45%
- 30%
- 15%
0% 15% 30% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
CRE RE Re Retu turns
Of Office e Sect ector Re Retail Sector
- r
Indu ndust strial Sector
Source: Trastor REIC
The e Market
Cap Capit ital l App Apprecia iatio ion Op Oppor
- rtunit
ity
9
Tra ransactions
Source: Trastor REIC
REI REIC Gro ross Yields REI REIC Tra ransacti tions
Sector
- r
Off ffice Retai ail Hosp spital ality Indu dustrial al La Land nd Total al
2016 016 # of Deals 9 11 6 26 26 Volume (€’000) 45,400 20,700 659,600 725, 25,80 800 2017 017 # of Deals 21 27 9 1 58 58 Volume (€’000) 94,500 223,000 235,200 2,500 555, 55,20 200 2018 018 ytd # of Deals 8 8 1 1 18 18 Volume (€’000) 46,000 21,900 62,900 13,100 144, 44,00 000
Ho Hote tel Tran ransact ctions
REIC # of Deal als s Vo Volum ume e (€’000) MAX MAX (€’000) MI MIN (€’000)
Pangaea
2 71,000 47,000 24,000
Grivallia
10 110,900 22,600 2,700
Trastor
8 18,700 8,500 700
ICI
10 14,900 3,800 400
Briq Properties
2 1,900 1,100 800
Total 201 017
32 32 217, 7,400 00 47,00 000 400 400
Total 2018 018 ytd
11 11 49,10 100 13,10 100 600 600 Sector
- r
MAX MAX MI MIN
2016 Retail 10.3% 6.2% Office 12.1% 6.8% 2017 Retail 9.9% 6.0% Office 9.5% 6.8% 2018 Retail 8.7% 7.0% Office 8.5% 4.8%
Yr Yr Q Q Na Name e Area ea Va Value ue (€’000) €/Room
2017 Q1 Amathus Beach Rhodes 53,700 174,000 2017 Q1 Capsis Rhodes 30,000 45,000 2017 Q1 Castello Piraeus 5,500 74,000 2017 Q2 Ledra Athens 33,400 107,000 2017 Q3 Olympos Naousa Thessaloniki 5,500
- 2017 Q3 Asteria Glyfadas
Athens 19,500
- 2017 Q3 Arina Sand Hotel
Crete 19,000 94,000 2017 Q3 Zorbas Village Hotel Crete 24,000 104,000 2017 Q4 King George Athens 43,000 421,000 2018 Q1 Lakitira Hotels Kos 62,900 102,000 Total 235 35,000 00 298, 98,10 100
The e Market
Tran ansactio ion Ac Activ ivit ity
10
# Properties 35 GLA 74,173 sqm GAV 89,858 GRI 6,480 Occupancy Rate 97.2% WALT 6.5 ✓ Prime office portfolio ✓ Presence of HQ quality single tenant buildings ✓ Urban retail stores at the best commercial locations with established, affluent catchment areas ✓ Reputable and financially-strong international and local tenants ✓ Recurrent high occupancy rates throughout the cycle
(1) As of 30.04.2018
PIRAEUS BANK HQs, Athens PIRAEUS BANK Heraklion Kronos BC, Maroussi NN Hellas Offices, Kifisia NRG Head Offices, Maroussi Alimou Retail, Alimos Kosmopolis Centre, Komotini Kassaveti Retail, Kifisia HSBC Branch, Chalandri Ethrio Parking Station, Marousi Wolford Retail, Kifisia Syntagma Offices, Athens
The e Port
- rtfoli
lio
High High Qua ualit ity CRE CRE As Assets
Key Met Metrics cs (1) Hi High ghlights Key Tenants
11
57% 57% 35% 35% 6% 6% 2% 2%
59% 59% 14% 14% 4% 4% 22% 22% 29% 29% 6% 6% 65% 65%
Thes hessaly/C y/Cen entral Greec Greece
- No. of Assets
6 GLA (sq.m) 5,066 % Fair Value 5.0% Thes hessaloni
- niki
- No. of Assets
2 GLA (sq.m) 4,042 % Fair Value 17.0%
Well di diversified Port
- rtfolio in
n pr prime ur urban loca
- cations
East stern n Maced edon
- nia/T
/Trace
- No. of Assets
1 GLA (sq.m) 11,499 % Fair Value 13.9% Wes Western n Maced edoni
- nia
- No. of Assets
1 GLA (sq.m) 216 % Fair Value 0.7% Attica
- No. of Assets
16 GLA (sq.m) 49,993 % Fair Value 53.5%
Loc
- cati
tion
- n
Attica
59%
Thessaloniki
14%
Crete
4%
Rest of Greece
22%
Ass sset et Office
57%
Retail
35%
Gas Stations
6%
Parking Station & Land
2%
Inco ncome Breakdown(1):
Epi pirus /Wes Wester ern Greec Greece
- No. of Assets
6 GLA (sq.m) 2,322 % Fair Value 6.7% Cret rete
- No. of Assets
3 GLA (sq.m) 1,806 % Fair Value 3.3%
Tenant Piraeus Bank
29%
Hellenic Fuels
6%
Other Tenants
65%
(1) As of 31.03.2018
The e Port
- rtfoli
lio
Div Diversifi ified po port rtfol
- lio
io
12
…with beneficial terms
Dec 2016
36%
Dec 2017
9% Hellenic Fuels 38% Other Tenants 53% Piraeus Bank
6% 6% 58% 47% 8% % 45%
Retail Offices Gas Stations Parking Stations 96% 96% 93. 93.6% 100% 100% 100% 100% 6. 6.5 WA WALT LT 96. 96.4% Oc Occupa pancy
✓ 37 unique tenants ✓ 6.5 years WALT including break options ✓ 95% of the annualized rents not subject to break options ✓ 99% of the annualized rent indexed annually by at least
Greek CPI
✓ 46% of leases are triple net agreements
96.4% po portfolio oc
- ccupancy with
th lon
- ng term leases(1)
(1)
✓
Piraeus Bank represents c. 36% of the annualized rental income while Hellenic Fuels represents c.6%
✓
Piraeus currently leases 6 properties (2 retail, 4 offices) while retail properties are used as bank branches and
- ffices are used as head offices
✓
Hellenic Fuels currently leases 10 properties (9 gas stations are directly rented to Hellenic Fuels and 1 is independently operated as a BP gas station
✓
Other Tenants represent c. 58% of the annualized rental income Diversi sified po portfolio dr driven by by str trong tenant t ba base se …and reliable large tenants
The e Port
- rtfoli
lio
Oc Occupancy Ra Rate & & Ten enant Base Base
30.04.2018(1)
(1) Annualized
13 Source: Audited Financial Statements of financial year 2017
Income Statement (€ ‘000) YE 2016 YE 2017 Revenu enue 3,94 943. 3.84 4,16 168. 8.99 Net Gain / (Loss) from Fair Value Adjustment on Investment Property (2,469.45) 268.93 Direct Property Relating Expenses (1,080.46) (1,080.15) Employee Expenses (154.24) (973.69) Other operating expenses (445.01) (1,254.90) Provision for assets impairment (2,897.74) (279.54) Amortisation of Intangible Assets (28.20) (38.99) Other Income 45.46 5.75 Oper erati ating ng Prof
- fit
t / (Los
- ss)
(3,08 085. 5.80) 0) 816. 6.39 39 Interest Income 71.45 83.21 Financial Costs (291.75) (295.13) Inter teres est t incom
- me
e -net net (220. 20.29) 29) (211. 11.92) 92) Prof
- fit
t / (Los
- ss) Befor
- re
e Tax (3,30 306. 6.09) 9) 604. 4.47 47 REICs Tax Expense (315.83) (601.82) Prof
- fit
t / (Los
- ss) for the
e period
- d
(3,62 621. 1.93) 3) 2.65 65 Balance Sheet (€ ‘000) YE 2016 YE 2017 Asse ssets No Non-curr rrent nt Asset ssets Investment Property 79,497.00 60,054.00 Property and Equipment 81.29 16.94 Intangible Assets 2.00 0.75 Other Long-Term Receivables 85.24 262.70 79, 9,665 65.52 52 60, 60,33 334. 4.39 9 Curren ent t Assets ets Trade and Other Receivables 551.35 397.87 Cash and Cash Equivalents 5,761.60 4,888.71 6,312 12.94 94 5,28 286. 6.58 58 Tota tal Assets ets 85, 5,978 78.46 46 65, 65,62 620. 0.97 7 Shareholders’ Equity and Liabilities Cap apital tal and d Reser erves es Share Capital 40,345.33 27,444.12 Share Premium 7,387.87 163.19 Reserves 37,547.59 37,539.65 Retained Earnings / (Losses) (5,673.87) (5,642.76) Total Shareholders’ Equity 79, 9,606 06.91 91 59 59,50 504. 4.20 Non-cur urren ent t Liab abiliti ties Borrowings 4,795.50 5,012.37 Retirement Benefit Obligations 75.81 37.19 Other Long-Term Liabilities 319.36 189.40 5,190 90.67 67 5,23 238. 8.96 96 Curren ent t Liab abiliti ties Trade and Other Payables 595.38 362.06 Current Tax Liabilities 319.89 246.59 Borrowings 265.61 269.17 1,180 80.88 88 877 77.81 81 Tota tal Liab abiliti ties es 6,371 71.55 55 6,11 116. 6.77 77 Total Shareholders’ Equity and Liabilities 85, 5,978 78.46 46 65, 65,62 620. 0.97 7
Key Fin inancials
Fi Fina nancia ial l per perfor
- rmance
14
▪
Experienced Board of Directors with proven real estate, finance, and banking experience
▪
Majority of non-executive directors, two of which are independent
▪
Investment Committee, Audit Committee, and Remuneration & Nomination Committee support the BoD
▪
Corporate Governance Code, Internal Regulation Code, Internal Processes Strong Cor
- rporate Gov
- vernance
ce BoD Re Responsibilities ▪ Trastor’s Board of Directors and management put emphasis on strong corporate governance and internal procedures ▪ Board of Directors currently comprising seven (7) members, elected by the General Assembly ▪ BoD’s role is to ensure the Company adheres to high corporate governance standards, it set and monitors corporate strategy, and provides entrepreneurial leadership and support to management ▪ The BoD ensures fair and equitable treatment of all shareholders Committe tees
▪ Monitors and evaluates the Company’s internal control and risk
management systems
▪ Supervises the Internal Auditor, the Risk Officer, and the
Compliance Officer
▪ Examines the interim and annual financial results of the
Company and the work of the Company’s auditor
▪ Reviews, analyzes, and approves new investment
recommendations (and divestments) made by management
▪ Recommends new investments to the Board of Directors ▪ Approves commercial terms for new leases and major changes to
existing ones
▪ Monitors the Company's business plan implementation ▪ Designs, monitors, and reviews the Company’s remuneration
policy
▪ Assesses BoD members and recommends new candidates to the
AGM of shareholders
▪ Appraises key management and recommends new appointments
Audit Committee Inv nvestment t Committee Re Remuneration & & Nominations Committee
Co Corporate Governance
Co Corp rpor
- rate Go
Governance St Standards
15 Geor
- rge Ting
ngis Non-Executive Member ▪ Director at Värde Partners, responsible for Greece and Cyprus - Joined Trastor in 2017 ▪ Qualifications: BSc Land Management, Reading University, MSc Economics & Finance, University of York, MBA, London Business School ▪ MRICS, Royal Institution
- f Chartered Surveyors
Jerem emy Gree eenh nhalgh Independent Non-Executive Member ▪ 35 years of experience - Joined Trastor in 2017 ▪ 24 years in corporate finance in London and New York for UBS, Goldman Sachs and Hambros Bank and 20 years as an Independent consultant ▪ Qualifications: MBA, Harvard Business School, MA Natural Sciences, Cambridge Ant Anthon hony Iann nnazzo Non-Executive Member ▪ Managing Director of Värde - Joined Trastor in 2016 ▪ Qualifications: B.A. in Political Science, St. John’s University (Minnesota) J.D. from Harvard Law School ▪ Prior to joining Värde, Tony was an associate at Lazard ▪ Prior to Lazard, he practiced securities and M&A law at Skadden, Arps, Slate, Meagher & Flom LLP Tassos Ka Kazi zinos
- s
Vice Chairman, Executive Member ▪ 23 years professional experience in the UK, USA, India and Greece - Joined Trastor in 2015 ▪ Worked for Argo Capital Management, for Albert Abela Corporation, for Arts Alliance and for Bain & Company ▪ Qualifications: MBA, Harvard Business School, BSc (Economics), London School of Economics Mich Michael Ha Hadj djipavlou
- u
Chairman, Non-Executive Member ▪ 35 years of experience - Founder
- f Deloitte Greece, CEO (1985 -
2011) & Chairman (2012-2015) Joined Trastor in 2017 ▪ Qualifications: BSc Honours, London School of Economics Fellow of ICAEW - FCA ▪ Corporate Finance Qualification (ICAEW) - CF ▪ Member of the European Management Board of Deloitte for 5 years Dimi Dimitrios
- s Voukas,
, Non-executive Member ▪ Director at Piraeus Bank, Group Participations - Joined Trastor in 2015 ▪ Qualifications: B.Sc Econ. Economics at Aristotle University of Thessaloniki M.Sc Econ., University of London ▪ Member of the Board of Directors in various companies mainly in the Financial industry Lamb mbros
- s Papadop
- pou
- ulos
- s
Independent Non-Executive Member ▪ 25 years of experience - Joined Trastor in 2017 ▪ Worked for Ernst & Young Citigroup (London) ▪ Qualifications: B.A.(Hons). Accounting with Computing, University of Kent ▪ Member of the Institute of Chartered Accountants in England and Wales since 1996
Co Corporate Governance
Bo Boar ard of
- f Di
Directors
16
Managemen ent t Tea eam
Or Organiz izatio ional l Cha Chart
Boa
- ard of
f Dir irectors Chie hief Ex Executive Offic ficer
Inves estment ent Committee ee Remun uner erat ation
- n & No
Nominat ation n Committee ee
Corporate Secretary
Lega gal
Risk Management Internal Audit Services
Audi dit Committee ee
Investor Relations Accounting Portfolio Management Compliance
Finance Inv nvestment Ma Management As Asset & Po Portf tfolio Ma Management
Technical Management
17
Tassos Kazinos Chief Executive Officer ▪ 23 years professional experience in the UK, USA, India and Greece - Joined Trastor in 2015 ▪ Worked for Argo Capital Management, served as an Executive Board Member of the Albert Abela Corporation, a private foodservice management company and hotel group with $ 1.4 billion in sales and worked for Arts Alliance and for Bain ▪ Qualifications: MBA, Harvard Business School, BSc (Economics), London School of Economics Dimitris Polychronopoulos Legal Counsel ▪ 17 years’ experience - Joined Trastor in 2017 ▪ Worked as head of Legal in companies in the telecoms, travel & tourism and real estate sector ▪ LLM (University of Warwick), ▪ Law (Dimokrition University), ▪ Taxation Diploma (AUEB) George Theodoropoulos Asset & Portfolio Manager ▪ 14 years of experience ▪ Joined Trastor in 2015 ▪ Worked for Piraeus Bank, Marfin Group and Virgin Group (UK) ▪ Diploma in Property Valuation, ▪ BSc (Hons) Management & Systems, Cass Business School George Filopoulos Investment Manager ▪ 14 years experience - Joined Trastor in 2015 ▪ Worked for Piraeus Bank, and Cushman Wakefield ▪ Qualifications: ▪ Executive Certificates, Harvard GSD, ▪ MSc Real Estate Economics & Finance, London School of Economics, ▪ BSc Economics, Panteion University
➢ Trastor’s management team consists of professionals with investment, asset management, banking, and private equity backgrounds and long-term experience in the Greek real estate market:
- Deep understanding of local market
- Active hands-on management
- Partner network
- Strong track record
- International academic and professional background
➢ Trastor’s team consist of 13 full time employees
Managemen ent t Tea eam
Seni Senior Ma Management
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