Profile - Aradei Capital

ARADEI CAPITAL

BRICKS FOR BUSINESS

Profile.

Aradei Capital is a Moroccan commercial real estate company listed on the Casablanca Stock Exchange market.

The real estate company relies on REIM Partners expertise in investment advisory and recommendations on the supervision of rental management. Backed by prestigious shareholders (LabelVie, the exclusive Moroccan franchisee of Carrefour – the EBRD – SANAM – Best Financière – PIC for the South African pension fund GEPF – BMCI), Aradei Capital has a diversified portfolio (business assets, industrial assets, bank’s retail branches, leisure company, and offices) in 23 cities of the Kingdom with a total gross leasable area (GLA) of approximately 478,000 sqm as of December 31, 2022. In 2021, Aradei Capital extends its diversification strategy to the healthcare sector through a joint venture with Akdital and BFO Partner. The acquisition of a majority stake of 51% of this joint venture was completed in January 2022.

Vision and mission.

Our Vision

“To be the premier commercial real estate company delivering growth and return from a resilient and diversified portfolio.”

Our Mission

“We acquire, develop and manage a portfolio of innovative assets anchored in their environment.”

Strategy.

Since 2015, Aradei Capital has pursued its strategic vision based on the diversity of its commercial real estate assets portfolio, its dynamic asset management, and a policy of sustained investment and development in order to ensure the growth of the commercial real estate market, a growth driver in Morocco.

This growth strategy is based on the continuation of the retail park development program or mixed use projects, thanks, in particular, to the partnership with the LabelVie Group.

It is also based on a diversification strategy on different asset classes such as office, industrial, education, logistics, health, etc., through greenfield projects development or operational assets acquisition.

This diversification strategy, initiated in 2019 with the acquisition of the industrial asset leased to Yazaki, continued in 2020 with the launch of the first office building construction, then in 2021 with the signature of a partnership in the health sector for the development of private clinics.

Aradei Capital is also positioning itself as an OPCI (the Moroccan equivalent to REIT regime) investor. In March 2021, Aradei Capital completed the first step in the REIT industry with the acquisition of the shares of the OPCI vehicle named CLEO PIERRE SPI-RFA. This OPCI owner 103 bank’s retail branches in Morocco leased to BMCI (BNP Paribas Group). The bank’s retail branches portfolio acquisition with a renowned tenant has enabled the real estate company to continue to grow its portfolio but also to diversify its tenants by integrating a key financial institution and to strengthen the company geographic diversification across the Kingdom of Morocco. As an operational assets portfolio, This transaction enables immediate rental income generation.

OUR STRENGTHS AND RESOURCES.

Our strengths.

Leading assets in their attractive catchment areas
Sites anchored in their territories, close and accessible
A unique partnership with the LabelVie group, the Morocco’s exclusive Carrefour franchisee
Our ability to attract well-known tenants (LBV, Decathlon, LC Waikiki, BMCI, etc.)
Strategic partnership with Akdital, a major player in private health in Morocco

A presence in several asset classes (retail, offices, industrial, healthcare)
Robust growth drivers
Existence of land reserves
Agile and dynamic experts teams
ESG commitments and ambitions, integrated into the real estate strategy

Our resources.

Our assests:

29 commercial assets, 1 industrial asset, 4 lands, 1 portfolio of 103 bank’s retail branches and 1 office building (under development)
A GLA area of 478,000 sqm
A portfolio valued at nearly 7.2 billion MAD

Our financial strength:

37% LTV as of December 31, 2022

Our brands and traders:

A stable and diversified rental base of + 250 traders, manufacturers and businesses
97% occupancy rate

Our visitors:

Over 43 million visits across the entire portfolio

Our track record:

+10 projects carried out and delivered between 2019 and 2022

Our governance:

Governance in accordance with the best standards
A stable and prestigious shareholder structure
A successful stock market listing in December 2020

Our teams:

A multidisciplinary team made up of 80 employees (development, property management, marketing, center management, support)

KEY FIGURES.

As of December 31st, 2022

ASSETS

1 OPCI

COMPOSED OF 103 BANK’S RETAILS BRANCHES

CITIES

478000 sqm

GLA

97%

OCCUPANCY RATE

250

BRANDS

43 MILLIONS

VISITS IN 2022

PORTFOLIO COMPOSITION.

ASSETS TYPES (GLA).

As of December 31st , 2022

Aradei Capital owns 8 assets types with a diverse range of tenants:

3 Shopping Centers – 10 Commercial Galleries – 4 Retail Parks – 7 Single Tenancy Assets – 1 Industrial Asset – 1 OPCI containing 103 bank’s retail branches – 5 Healthcare Establishments – 1 Office Building

The company also owns 4 greenfield sites for a total area of approximately 194,390 sqm across several cities in the Kingdom.

A growing portfolio and a diversification objective beyond retail.

Aradei Capital aims to diversify its portfolio through new asset classes such as industry, logistics, offices, education and health.

At the end of 2020, Aradei Capital launched the construction of its first « Prism » office building in Casablanca which was delivered in 2022. It’s the first EDGE Advanced certified office building in Morocco.

Aradei Capital signed in 2021 a partnership in the health sector, with the acquisition of a majority stake of 51% of Akdital Immo completed in January 2022, for the development of private clinics in 7 cities of the Kingdom. To date, 5 clinics have been delivered and are operational.