• Investing in a portfolio of UK Prime buy-to-let (BTL) mortgages originated by the UK’s first digital mortgage lender, Molo
• Opportunity is to invest in a diversified portfolio of low-risk BTL mortgages secured on UK residential properties that offer a strong yield

- Acquisition of large apartments in centres of major cities in Spain (Madrid, Barcelona)
- Assets rented to multiple-occupancy, such as students, capturing higher unit rents

• Development of c.30k sqm of logistics asset at the Goleniow Industrial Park (Noth West of Poland) in partnership with 7R SA. Majority pre-let (73%).
• The business plan envisages the full development of the site by Q1 2021 and the lease-up of the remaining space (27%).

• Acquisition of the Sheraton Warsaw Hotel, an operating and highly cash generative 5-star 350 keys Hotel located in central Warsaw, on the Three Crosses Square (Plac Trzech Krzyzy) in a prime location in the heart of the embassy district.
• The Hotel is operated by Starwood with oversight management by Algonquin (a hotel investor and operator currently managing 47 assets with AUM of €1.9bn across Europe), who will be the local partner on the transaction and investing as a minority partner.
• The Seller was a consortium comprising Benson Elliot (47.5%), Walton Street (47.5%) and Algonquin Hotels (5%) who owned the Asset since 2015 as part of a wider portfolio of 8 assets.

• Acquisition of c. 7,000 sqm of existing residential asset blocks in Chamonix (France) to refurbish and resell individually
• The Asset is located in the heart of Les Praz, the most prime residential area within the Chamonix Valley
• Website: http://lacordee-chamonix.com/
• La Cordée Latest Pictures May 2020
• La Cordée Furnished Apartment Video May 2020
• La Cordée Brochure

• Two joint ventures formed in Portugal to explore residential and commercial opportunities targeting primarily Lisbon and Porto
• The first JV was established in 2015 with a local residential developer to acquire existing disused or dilapidated buildings or land plots, in order to (re)develop and sell individual residential units
• The second JV was established in 2018 with an experienced Portuguese real estate and NPL asset manager, focused on repositioning/(re)development of opportunistic properties with the objective of creating an institutional quality office portfolio
• First investment in the Residential focused JV was made in November 2015, a 3,000sqm derelict residential building to be redeveloped that was fully sold in 2017
• To date the Residential-focused JV has committed to a total of six investments totalling c. 450 units residential units
• As of October 2019, three investments in the Commercial focused JV had been acquired/exchanged
• Further pipeline of investments is under review on both JVs

• Residential development property program joint venture with a national Spanish residential developer with the objective of investing into different projects across Spain.
• Business Plan comprises the acquisition of the land plots, their development and thereafter the sell of the individual residential units to final buyers.
• Currently comprises 8 sites, with a total of 435 residential units and 8 commercial units in different locations.

• Residential development property program joint venture with a regional Spanish residential developer with the objective of investing into different projects in Catalonia and the Balearic Islands provinces of Spain.
• Business Plan comprises the acquisition of the land plots, their development and thereafter the sell of the individual residential units to final buyers.
• Currently comprises 4 sites with a total of 177 residential units and 2 commercial units in different locations.

• 3 shopping centres located across Spain with approx. 45,000 sqm of gross lettable surface
• Strategy is acquisition of  underperforming assets and reposition through a significant improvement of the tenant mix, renegotiation of current leases and in turn NOI, supported by a significant capex investment
• Acquired in joint venture with experienced local partner, with whom Patron has already partnered in the Ferrol deal (Fund IV)
• El Mirador de Cuenca
• Los Alcores
• Alzamora
• Odeón

• Acquisition of 43 retail units across Spain, totalling 41,567 sqm of GLA
• Main tenant is El Arbol / DIA (number 2 operator in Spain)
• Strategy is to lease-up vacant stores and optimise portfolio

• Office building with 12,000 sqm on the border of Paris CBD in Levallois, with significant and unique redevelopment potential in a a very prime office environment
• Strategy is to implement an extensive capex program to fully redevelop the asset and to lease-up the newly built space
• Acquired in joint venture with experienced local French development partner
• Video

• In 2016, Patron acquired the Grainger Retirement Solutions business, consisting of a portfolio of over 3,500 'Home Reversion' equity release assets and an asset management platform.
• Home reversion is an equity release product available to homeowners to sell equity in their property for a discounted value and a right to live in the property until vacancy due to death or move into long-term care.
• Underlying real estate exposure is diversified across UK

• Acquisition of the old UK American Express Headquarters site (0.94 Hectares) in Brighton (South Coast of the UK, 55 miles from London) for a residential-led mixed use development
• The investment being undertaken in joint venture with First Base, a highly regarded UK specialist urban residential and mixed use developer
• Business plan predicated development of a 225 unit residential-led mixed use scheme de-risked through indicative offers for both the Affordable Housing and the Build to Rent elements of the scheme.

• Acquisition of 7 mainly office assets (4 office buildings, 2 office floors and 1 retail floor) in Madrid and Barcelona.
• The 6 office assets are 100% leased to a single tenant.

• Acquisition of 4 residential blocks of apartments in Madrid, Pamplona and Valladolid comprising:
  • 163 flats of 1, 2, 3 and 4 bedrooms (17,460 gross sqm)
  • 270 parking spaces
  • 163 storage rooms
• The assets are rented to individuals.
• Strategy is to sell the units to domestic buyers once the current leases expire.

• Acquisition of Punch Taverns Plc. (3,254 pubs), with the back to back sale of 1,879 pubs to Heineken.
• Fund V retains a total of 1,375, predominantly freehold, pubs, with 1,323 held in a securitisation structure and 52 pubs and the head office operations held at TopCo.
• The acquisition completed in August 2017, with the business plan predicated on strategic capex across the core estate, continued roll-out of a hybrid tenanted / managed operating model and sale of the non-core pubs.
• Punch Closing Video
• Punch Taverns Locations- Google Earth

• Acquisition of portfolio of six non-performing commercial mortgage loans from the National Asset Management Agency (NAMA) in Ireland
• Outstanding loan balance of €228 million owed by single connected group of borrowers
• Loans secured on four real estate assets, primarily the Northside Shopping Centre in Dublin and the Land Centre in Warsaw
• Press Release - 27^th May 2014

• Acquisition of Uni-Invest, a distressed portfolio comprising of (at time of closing) 202 office / industrial assets spread across the Netherlands, totalling approximately 1.1 million sqm. of floor space and acquired in Joint Venture with TPG Capital.
• Portfolio includes (at time of closing) an operating company, consisting of ca. 45 full time employees.
• Strategy includes:
  • Restructuring and supplementing the existing management team
  • Increasing occupancy across the portfolio
  • Disposing of eject assets and well-let element of portfolio
  • Re-development of selected assets into alternative use
  • Add-on acquisitions
• The company was rebranded Merin in January 2013.
• Link to Merin website: www.merin.nl/
• Sold to Dream Global REIT in 2017

• Shopping centre with approx. 25,00 sqm of gross lettable surface in Ferrol, in the north - western Spain
• Strategy is to buy an underperforming asset and reposition it through a significant improvement of the tenant mix and include some key brands, such as Inditex and H&M. Occupancy level would increase from current 80% to around 95%
• Acquired in joint venture with experienced local partner

• Acquisition of 53 tourist apartments and 45,926 sqm of land for development (17,024 sqm permitted buildability) in La Manga Club Resort

• Strategy is to (i) refurbish the apartments and sell to end users (owners and investors) and (ii) develop the infrastructure to service the land (land levelling, utilities, drainage, road works, etc) and then divide the land into smaller plots and sell to owner occupiers or to developers

• Acquired in joint venture with experienced local partner and owner of the resort facilities

• Purchase of two adjacent vacant properties in the historic Turin city centre
• The strategy is to refurbish into 35 residential units with some ground floor retail and first floor office space

• http://www.palazzomartinidicigala.it/

Fund III developed, acquired and operated 13 homes in the South of England namely in:

• Camberley x 2
• Hove
• Basingstoke
• Fareham
• Frome
• Weymouth
• Salisbury
• Sway
• Horley
• Church Crookham
• Edgbaston
• Newmarket

The 12 homes were sold to Welltower Inc. ("HCN") and the management company, Gracewell Healthcare (http://gracewell.co.uk/), to Sunrise Senior Living ("Sunrise") in 2014.

Fund IV has acquired, exchanged contracts or agreed to acquire or develop 33 premium quality care homes or retirement living communities. Currently the program has sold 14 homes to date and has 6 operating homes:

• Development - 11 care homes forward sold to HCN and Revera Inc ("Revera")
• Site Trade - 8 sites.
• Development, Sale and Leaseback - 6 homes in Bracknell and Basingstoke (pre-let to Care UK),
• Operating homes - 3 homes in Dunstable, Stepney, Glasgow, Sevenoaks and Oxford.
• Development and Operation - 5 homes.

The Fund V healthcare program has acquired or exchanged contracts to acquire or develop 11 homes.

• https://www.hamberleycarehomes.co.uk/
• https://laingbuissonawards.com/2019-winners/
• https://www.ipevents.net/healthinvestorawards-2019/winners2019/
• /media/93562/prpatrongracewellsale140814.pdf

• Powerleague is the UK's leading five-a-side commercial operator, with over 460 pitches in 49 centres across the country
• Patron completes takeover of Powerleague for £42.5 million (Press Release - Dec 2009)
• Powerleague Docklands Opens (View Slideshow)
  • Powerleague Club Regeneration Images - April 2019

• Powerleague wins Digital Entrepreneur Award
• Powerleague sponsors Kids Football!
• Powerleague Website
• Powerleague new site in London City, fully operational!
• Powerleague Harlem Shake!

• Patron has entered into a joint venture with Orbit Financial to acquire and develop, hyper market-anchored shopping centers in important regional cities of a population below 1 million in Russia
• Three sites acquired: Krasnodar, Surgut, Izhevsk
• Surgut Site Photos - December 2015 (Photo 1) (Photo 2)
• Surgut Updated Development Photos - September 2015 View Slideshow
• Surgut Site Photos - May 2015 View Slideshow
• Marketing Office now open in Surgut - September 2014 View PDF
• Surgut Levelling Works - October 2008 View Slideshow
• Surgut Site Photos - October 2008 View Slideshow

Acquisition of land sites in suburban Bucharest and old factory sites in key cities in Western Romania. Strategy includes:

• Planning and permitting of sites over a 12-18 month period for primarily residential, and some retail, developments
• Sale of a portion of the sites and retention of one or more sites for development and construction
• Completion of retained site(s) for primarily residential apartment use in a subsequent period of 18-24 months from receipt of permits

• Tagor to start the construction of second stage of Adora Urban Village

• Portfolios typically comprise rented assets in secondary locations, assets to be repositioned and partially to totally vacant properties
• To date, 3 portfolios have been acquired (Archipel, Cyclades and Mosaique)
  • total of 85 assets, 106,000 m2 with approximately 85% by value in Paris area

• Acquisition of a 3,582m2 office building in Venice, mostly empty
• Strategy is to convert lower ground floor to prime retail areas, and upper floors to residential units
• Palazzo Molin Video
• http://www.palazzomolin.com/
• Financial Times Article - Hot properties for theatre lovers - October 2018
• Palazzo Molin in the Times - 25 Oct 2013
• Financial Times Article - Hot Property Article - August 2013
• The Sunday Times Article - January 2013
• Palazzo Molin - Evening Standard Article - 24 October 2012

The Seef Times - Hoffman's View Article - October 2013

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