Pegasus
Esas Properties

Esas began investing in commercial real estate in 2009 and has invested over EUR 200 million of equity in Turkey and abroad. We focus on diverse approaches through acquisition of prime and sub-prime real estate across a broad range of geographical markets and product types. With EUR 100 million of funds available for investments and a unique deal sourcing capability coupled with a strong brand name, Esas is well positioned to acquire assets at attractive values. In today’s distressed financial market, we have significant discretionary capital and the experience to capitalize on real estate investment opportunities.

As of today, Esas has a well diversified and unique portfolio of commercial real estate with a gross leasable area of 531,000 m² in Turkey and abroad.

In addition to our international portfolio, with a total GLA of 173.000 sqm and USD 425 m investment value, we were able to acquire 4 shopping center in UK and one office building in New York. 2013 was a successful year for our company since we were able to acquire five assets in the UK and US.

In March 2013, we acquired a new portfolio in the UK, consisting of 3 shopping centers with a GLA of 101.000 m² and a total rental income of £ 21.4 million. At the end of 2013, we have completed the acquisition of one shopping center in Aberdeen with a GLA of 42.700 sqm and rental income of £ 14.5 million.

We expanded our US portfolio, through acquiring a new office building with a GLA of 14.500 sqm located in Midtown South, one of Manhattan’s most desirable commercial districts.

Besides our international investments, our first local development project Esas Aeropark is completed in 2012. Aeropark is a mixed use project with 55.000 m² of construction area, located in Kurtköy-one of the up and coming regions of İstanbul and home to Sabiha Gökçen International Airport. The office buildings are fully occupied by two Turkish blue-chip companies namely Pegasus Airlines and Netas. In addition to offices, Aeropark also consists 42 high end residences and a 1.500 sqm retail area.

In 2014, Esas will continue its local real estate investments through a Class A office development project in Maltepe with a total GLA of of 20,000 sqm and three shopping mall development projects in İzmit, Bolu and Canakkale. After the completion of all our pipeline projects in 2015 we will have local portfolio with a total GLA of 200.000 sqm consisting of 3 office buildings, 1 hospital, 3 shopping center. Apart from its pipeline projects, Esas Gayrimekul’s land bank consists of two lands in Kartal and Riva with a total area of 150.000 sqm. The strategy with Kartal Land is in proceeding with full development of an officepark project. During our investment horizon, we are aiming to expand the local portfolio up to 500.000 sqm GLA and with our value-added, opportunistic investment strategies and deep industry expertise Esas’ ultimate goal is to be ranked among top three real estate investment companies in Turkey.

In the upcoming period, Esas will focus on local real estate investments in secondary cities and large towns in Anatolia, Turkey with a population of over 100.000 people and a low level of competition in terms of commercial real estate. The purpose is to create a sustainable advantage in these sub-prime and underpenetrated markets which ultimately results in high entry barriers for future endeavors. In addition to these, we opportunistically seek international co-investment opportunities to team up with local asset managers who can successfully manage the portfolio and deliver outstanding results.

Esas Plaza, Rüzgarlıbahçe Mah. Kavak Sok No:19 34805 Kavacık Istanbul TURKEY

+90 216 681 85 00 (pbx)

+90 216 681 85 60

www.esasgayrimenkul.com.tr