Building Overview

• Property Name: CLAUDIO COELHO 124

• Total Area: 4775 sqm

• Area Above Ground: 4295 sqm

• Area Under Ground: 16 sqm

• Parking Units: 16 units

Financial Summary

• Asking Price: To be determined (€)

• Sale Conditions: Rent at €33.50 per sqm/m

• CPI Adjustment: Annually

• Free Rent Period: 9 months

• Building Condition: New construction

Investor Profile

• Investment Type: Core

• Required Return on Investment: 7%

Cash Flow Development

• Time Frame: 10 years

• Capital Expenditures (CapEx): Not required

• Exit Yield: 4.50%

• Investor Required Return: 7%

Assumptions

• Estimated Rental Value (ERV) for Offices: €33.50 per sqm/m

• Estimated Rental Value (ERV) for Parking: €160 per sqm/m

• Refurbishment Cost: €0 per sqm

• Time for Refurbishment: 0 years

• Operating Expenses: €3.72 per sqm/m

• Exit Yield on Sale: 4.5%

Dynamic Cash Flow Analysis

Yearly Cash Flow Projections

• Rental Income Adjustments (€/sqm/m):

  • Year 2024: €33.50

  • Year 2025: €34.50

  • Year 2026: €35.50

  • Year 2027: €36.40

  • Year 2028: €37.30

  • Year 2029: €38.10

  • Year 2030: €38.80

  • Year 2031: €39.60

  • Year 2032: €40.40

  • Year 2033: €41.20

• Adjusted Rent for Parking (€):

  • Year 2024: €160

  • Year 2025: €164.80

  • Year 2026: €169.70

  • Year 2027: €174.00

  • Year 2028: €178.30

  • Year 2029: €181.90

  • Year 2030: €185.50

  • Year 2031: €189.30

  • Year 2032: €193.00

  • Year 2033: €196.90

• Operating Expenses Adjustments (€):

  • Year 2024: €3.72

  • Year 2025: €3.80

  • Year 2026: €3.90

  • Year 2027: €4.00

  • Year 2028: €4.10

  • Year 2029: €4.20

  • Year 2030: €4.30

  • Year 2031: €4.40

  • Year 2032: €4.50

  • Year 2033: €4.60

• Rent-Free Periods (months):

  • Year 2024: 6

  • Year 2025: 3

  • Year 2026-2033: 0

Cash Flow Calculations

• CPI Adjustments (%):

  • Year 2024: 3.0%

  • Year 2025: 3.0%

  • Year 2026: 2.5%

  • Year 2027: 2.5%

  • Year 2028: 2.0%

  • Year 2029: 2.0%

  • Year 2030: 2.0%

  • Year 2031: 2.0%

  • Year 2032: 2.0%

  • Year 2033: 2.0%

Rental Income Projections

• Office Rental Income (€):

  • Year 2024: €863,295

  • Year 2025: €1,333,791

  • Year 2026: €1,831,739

  • Year 2027: €1,877,533

  • Year 2028: €1,924,471

  • Year 2029: €1,962,961

  • Year 2030: €2,002,220

  • Year 2031: €2,042,264

  • Year 2032: €2,083,109

  • Year 2033: €2,124,772

• Parking Rental Income (€):

  • Year 2024: €15,360

  • Year 2025: €23,731

  • Year 2026: €32,591

  • Year 2027: €33,406

  • Year 2028: €34,241

  • Year 2029: €34,926

  • Year 2030: €35,624

  • Year 2031: €36,337

  • Year 2032: €37,063

  • Year 2033: €37,805

Operating Expense Projections

• Operating Expenses (€):

  • Year 2024: €191,729

  • Year 2025: €197,481

  • Year 2026: €203,405

  • Year 2027: €208,490

  • Year 2028: €213,702

  • Year 2029: €217,977

  • Year 2030: €222,336

  • Year 2031: €226,783

  • Year 2032: €231,318

  • Year 2033: €235,945

Net Operating Income (NOI)

• NOI Projections (€):

  • Year 2024: €878,655

  • Year 2025: €1,357,522

  • Year 2026: €1,864,330

  • Year 2027: €1,910,938

  • Year 2028: €1,958,712

  • Year 2029: €1,997,886

  • Year 2030: €2,037,844

  • Year 2031: €2,078,601

  • Year 2032: €2,120,173

  • Year 2033: €2,162,576

Terminal Value and Cash Flow

• Terminal Value (€): 48,057,249

• CapEx: 0

• Total Cash Flow (€):

  • Year 2024: €878,655

  • Year 2025: €1,357,522

  • Year 2026: €1,864,330

  • Year 2027: €1,910,938

  • Year 2028: €1,958,712

  • Year 2029: €1,997,886

  • Year 2030: €2,037,844

  • Year 2031: €2,078,601

  • Year 2032: €2,120,173

  • Year 2033: €50,219,825

Present Value Calculation

• Present Value (€): 36,875,667

• Discount Rate: 7%

• Initial Yield (%): 4.77%