• The Alpine Residential Program is an attractive opportunity that offers significant value creation, partnering with a local developer to develop and sell residential units in undersupplied Alpine markets with proven historic liquidity and high altitude resorts.
• 1st investment, Chatel Asteria, involves a development of 4 high end Chalets (average size 236 sqm).
• 2nd investment, Megève Hestia, is a ground up development of 2 very high-end chalets (average size of 400 sqm).

• Acquisition of a top 10 UK Housebuilder, Cala Homes, at an attractive valuation from a motivated seller.
• Patron previously owned Cala (via Patron Fund IV) from 2013 to 2018 in a joint venture with L&G.
• Cala remains a strong, well-managed business in a market supported by high demand and a chronic shortage of supply.

This opportunity invests in residential development projects across Spain with developer fully owned by top-tier financial institution. The investment envisions the development of 16 residential projects, comprising of 1,350 residential units in excellent locations: Catalonia, Madrid, Andalusia and Canary Islands.

The investment includes two residential development projects (Levitt Quintanar and Levitt Lazarejo) which represent a total residential area of c.108,721 sqm comprising 594 units, of which 472 are flats and 122 are homes and a c.54,057 sqm tertiary land plot all located in Las Rozas, north-west Madrid in joint venture partnership with Q21 Real Estate.

• Acquisition of Blackpool Shopping Centre and Retail Park in Northern Cork, including c.382k sqft NIA split across (i) Shopping Centre (c.122k sqft NIA and a surface car park with 700 spaces) and (ii) Retail Park (c.193k sqft retail across 19 units) plus (iii) c.67k sqft office space and a multi-storey car park.
• The Shopping Centre is anchored by a large Dunnes supermarket (52k sqft over and above the 122k sqft stated above) and the scheme has over 50 tenants including Woodies, Aldi, Sports Direct and McDonalds, with the recent positive additions of JD Sports and Jysk (signed just prior to completion of the acquisition).

• Program to invest in residential projects in Rome in joint venture partnerships with experienced local partners targeting middle-income local buyers.
• First JV with Investire and Kumi as Partners.

1. 1st investment comprises 110 residential units in viale delle Provincie in Rome, just east of the historical centre of the city

• Program to acquire existing light-industrial assets across the Netherlands together with an experienced partner (branded as UrbanLinx)
• 1^st investment involves a 10.2k sqm light-industrial building in Amsterdam
• 2^nd investment involves a 11.4k sqm light-industrial building in Houten
• 3^rd investment involves a 13k sqm light-industrial building in Doetinchem

• Pipeline of potential add-on investments is under review
• Link to UrbanLinx website: https://urbanlinx.nl/

• Program to acquire existing light-industrial assets across Germany together with an experienced partner
• The first asset involves the acquisition of a 14.1k sqm light-industrial building in Cologne-Marsdorf
• Pipeline of potential add-on investments is under review

• Acquisition of a former holiday camp in a 67,000sqm land plot in the Sintra, Greater Lisbon, with approved detailed planning consent to convert into a 89-key (6,900sqm) up per scale/luxury hotel and spa focused on wellness, sports and nature oriented activities in a partnership with local partner and asset manager Quest Capital.
• Post finalization of branding and internal design the JV will refurbish the property and operate the hotel until stabilisation.
• The property represents a unique opportunity for a hospitality scheme in the Sintra Cascais Natural Park (UNESCO World Heritage site) given its characteristics and the high barriers of entry for new development.

• Acquisition of a high quality, dominant retail outlet centre of c. 300,000 sqft NIA existing retail, F&B and leisure space located in Livingston which is situated between Edinburgh and Glasgow (the two largest cities in Scotland).
• The Asset has a day-1 occupancy of 89% (32,000 sqft vacancy), and generates a total income of c. £10m.
• Diversified Tenant base with a mix of F&B, leisure, homeware, sports-related tenants, and well-known fashion/apparel brands including Nike, Adidas, Skechers, Levi’s, Tommy Hilfiger, and Calvin Klein.

• Program to invest in residential projects in joint venture partnerships with experienced local partners targeting middle-income local buyers.
• First JV with Level as Partner (same strategy as Fund V and Fund VI programs).
• 1st investment comprises of  44 residential units in Estepona, a town in the Costa del Sol area
• 2nd investment comprises of  110 residential units in Entrenucleos, an expansion area of Seville
• 3rd investment comprises of 118 residential units in the municipality of Mataró, Catalonia
• 4th investment comprises of 30 residential units in Can Dragó, located in Barcelona city

• Acquisition of Prisma, a landmark office building in Frankfurt, Germany.
• The building was built in 2001, is currently vacant (after single tenant Deka vacated the building in December 2021) and comprises 457,000 sq ft (42,450 sq m) of space.
• The building is located in the sub-market Niederrad which has seen significant development and diversification in recent years. Within Niederrad the asset is located in the best micro-location, immediately next to the local train station.
• Patron envisages to reposition the building with a focus on sustainability and air quality through technical upgrades, including a new HVAC system.

• Program to invest in residential projects in joint venture partnerships with experienced local partners targeting middle-income local buyers.
• First JV with Loiola Gestión Inmobiliaria as Partner, an experienced local developer from the Basque Country.
  • 1st investment comprises 211 residential units in Zorrotzaurre, last main expansion area in Bilbao city.
• Second JV with Level as Partner (same strategy as Fund V program).
  • 1st investment (exchanged) comprises 45 residential units in Pozuelo, a suburb of Madrid
  • 2nd investment comprises 44 residential units in Terrassa, a town in the outskirts of Barcelona
  • 3rd investment comprises 123 residential units in Bormujos, a suburb of Seville
  • 4th investment comprises 120 residential units in Estepona, a town in the Costa del Sol area

• Acquisition of a high quality, dominant outdoor retail outlet centre of c. 205,000 sqft NIA existing retail and leisure space located in the Northeast England which services a catchment population of 750,000
• The Asset has a day 1 occupancy of 89% (183,000 sqft occupied), and current leases have 5.0 years WALT to expiry and 3.9 years to break. The Asset generates £4.2m in total passing rent, which is comprised of base rent of £3.2m (76%) and turnover rent of £1.0m (24%), translating into an average rent of £22.7 per sqft p.a. across occupied units
• Tenant base is diversified with a mix of F&B, household, sports related tenants, as well as fashion/apparel brands that are well known and positioned for the mid market, e.g., Adidas, Levi Strauss and Next

• Acquisition of Cranfield University Technology Park, comprised of c. 77,000 sqft NIA across three office buildings in Cranfield, UK.
• The buildings are located immediately alongside Cranfield University and strategically situated in the Oxford-Cambridge Innovation Arc, a key UK science, technology, and innovation corridor.
• Let to predominantly technology-led tenants, business plan comprises improving the occupancy and rental value through active letting management and targeted capex initiatives.

• Acquisition of a property-backed school group with a portfolio of 8 high-quality schools (7 freehold and 1 leasehold).
• Strong management team, supported by favourable supply/demand dynamics including post-COVID population inflow and the general wealth in the catchment areas that the Wishford schools are located in.
• Business plan includes achieving revenue growth through capex improvements on existing facilities, expansions and add-on acquisitions.

• Acquisition of a c.45 acre site, to develop a mixed-use light industrial and residential scheme in Daedalus, Lee-on-the-Solent, UK.
• Lee-on-the-Solent is a seaside district of the Borough of Gosport in south England, located 5 miles west of Portsmouth and 80 miles southwest of London, with an association with the Ministry of Defence and the aviation industry.

• Develop pre-let food-anchored convenience retail parks in regional Polish cities with a 30-min catchment area of min. 20k inhabitants, in high density residential areas with low existing saturation of retail space
• JV with Trei (experienced retail developer and manager); assets operated under Trei’s Vendo Park brand,  anchoring the quality of the product offering with a repeat tenant mix across sites

• The Program represents a good opportunity to invest in Milan which is the fastest growing city in Italy driven by a strong local economic and population growth and has strong demand (high) / supply (low) dynamics for new residential housing targeting local middle income buyers.
• The Partnership will focus on the purchase of existing buildings or land suitable for re-development typically in semi-central / peripheral areas of Milan, where we believe the majority of the opportunities will arise at a value which achieves the Fund’s returns target.
• The intention is to acquire sites with no zoning risk (where residential development is already allowed).

Acquisition of a portfolio of 37 healthcare properties (freehold) leased by operators active in the learning disability and mental healthcare market in Sweden together with Broadgate Asset Management.

• The property is made up of 80,000sq/ft of Retail, 85,000sq/ft of Office and 278 space car park let to Q Parks on a long lease.
• Plan is to invest significant capex primarily in the retail and office spaces,
  • The office space investment will concentrate on the re gearing existing tenants and upgrading and re-letting 12,000sq/ft of vacant space.
  • The retail space investment will concentrate on repositioning 17,000sq/ft of retail units to food and beverage use catering for local need, as well as leasing up 10,000sq/ft of vacant space.

• Acquisition of the 8,721 sqm office part of the De Westerlaantoren mixed use office & residential building in Rotterdam, Netherlands
• Undermanaged, high-quality asset with significant value-add potential in a strong micro-location within the Rotterdam submarket with limited supply of Grade A office space

• Acquisition of a 78.9k sqm office and light-industrial complex (comprising 7 buildings spread across 3 adjoining plots) in Ludwigsburg, Germany
• Significant redevelopment potential into a modern multi-tenant office and light industrial/R&D scheme
• Established light industrial/production location within the greater area of Stuttgart, an excellent macro location

• Plan to invest to create a portfolio of temporary accommodation, longer-term affordable housing or key worker accommodation assets within two to three years by acquiring and refurbishing existing or new built undervalued properties into better quality affordable housing stock in the UK
• Partner with Oak Housing and it’s shareholders BMOR, T&B Capital
• First asset acquired in April 2021 – West Drayton comprising a hotel block (27 bed), apartment block (4*2 bed apartment) plus a 4-bed houses for a total GIA of c.14k sq.ft, situated short distance from West Drayton station (soon offering Crossrail station) and close to Heathrow airport, London.

• Plan to invest to create a portfolio of mid-market Purpose Built Student Accommodation assets within two to three years by acquiring and refurbishing generally smaller 5 - 10 existing undervalued student housing properties (c.1,000 beds)  into better usable space in key student cities in the UK
• First asset acquired in February 2021 - Beech Gardens comprising 9 buildings (242 beds) on a 2.87 acre site, situated in the affluent residential area of Edgbaston, a suburb of Birmingham#
• BAL Architecture creates timber pavilions as students’ woodland retreat (architectsjournal.co.uk)

• Acquisition of two distressed UK office assets located within the M3 office market, an established office and industrial market west of London: (i) a multi-let office park, Meadows Business Park, Camberley, Surrey, with significant vacancy (ii) three connected vacant office buildings on Bartley Wood Business Park, Hook, Hampshire.
• Business plan envisages an extensive refurbishment and lease-up of both assets to enable investment exits once stabilised.
• Acquired in joint venture with experienced local partner.

• Acquisition from Milton Keynes Council of an existing office building plus the adjacent land on a 2.35 acre site in Central Milton Keynes, UK
• The proposed business plan is to deliver a mixed use scheme including a refurbished and extended office component of c.243k sqft and c.285 new build residential units comprising of both build to rent and discounted market rent
• The development will be delivered in JV with First Base (Partner in Edward Street Quarter investment – Fund V) and a high-quality design team, including renowned architect Rogers Stirk Harbour + Partners

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

• Office building comprising 19,600 sqm lettable area in Brussel’s airport district, with significant value-add potential in a sub-market that benefits from a limited supply of quality Grade A space, low municipal taxes, strong infrastructure links via the Brussels airport and access to Belgium’s major highways
• Strategy is to implement necessary capex works and amenity upgrades, and to lease-up the vacant space via pro-active, strategic asset management

• 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
• Habitat Asset - Valrio: www.youtube.com/watch?v=ll40RFS6Enc&feature=youtu.be

• Office building with 12,000 sqm on the border of Paris CBD in Levallois, with significant and unique redevelopment potential in 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
• Creative Presentation Ceremony Photos September 2021

• 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.

• 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.

Acquisition of a residential block of apartments in Barcelona comprising:

• 126 flats of 0, 1, 2, 3 and 4 bedrooms (12,058 gross sqm)
• 198 parking spaces
• 126 storage rooms

The assets are rented to individuals.

Strategy is to sell the units to domestic buyers once the current leases expire.

Asset management team has proven track record

• 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.

• 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 168 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 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

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 19 homes to date and has 7 operating homes:

• Development - 11 care homes forward sold to HCN and Revera Inc ("Revera");
• Site Trade - 8 sites (3 sold);
• Development, Sale and Leaseback - 2 homes in Bracknell and Basingstoke (pre-let to Care UK), 4 homes operated by Hamberley Care Homes in Oxford (operating), Sevenoaks (operating), Ampthill (operating) and Hailsham (operating);
• Acquisition of operating homes - 3 homes in Dunstable, Stepney, Glasgow; and
• Development and Operation - 4 homes in Wixams, West Byfleet, Brampton and Enfield.

The Fund V healthcare program has acquired or exchanged contracts to acquire or develop 12 homes. Currently the program has 4 operating homes and 8 developments:

• Acquisition of operating homes - 4 homes in Milngavie, Verwood, Upton, and Plymouth
• Development and Operation – 8 homes in Bristol, Keynsham, Cofton Hackett, Dorking, Eastleigh, Hindhead and Cambridge
• https://www.hamberleydevelopment.co.uk/
• https://www.hamberleycarehomes.co.uk/
• https://laingbuissonawards.com/2019-winners/
• https://www.ipevents.net/healthinvestorawards-2019/winners2019/
• /media/93562/prpatrongracewellsale140814.pdf
• Ampthill Video Tour
• Ampthill Virtual Tour
• Ampthill Friends and Family
• Inspire Neuro Care Success Story

• 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 sponsors Kids Football!
• Powerleague Website
• Powerleague new site in London City, fully operational!

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

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

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