PRESS RELEASE
MULTIPLAN ANNOUNCES AN EXPANSION IN BARRASHOPPING WITH NEW STORES AND OFFICES FOR LEASE
Rio de Janeiro, May 30, 2012 MULTIPLAN EMPREENDIMENTOS
IMOBILIRIOS S.A. (BM&FBOVESPA: MULT3), in line with its growth strategy with new malls and expansion of existing operations, announces an expansion in BarraShopping, with 10.8 thousand m of total Gross Leasable Area (GLA). The expansion area includes the renovation of 1.3 thousand m of GLA, resulting in an actual GLA growth of 9.5 thousand m in BarraShopping. The mall, a reference in shopping and leisure in Rio de Janeiro, will undergo its seventh expansion, adding another 45 stores and 4.2 thousand m2 of corporate office space for lease, split into two floors. The opening is scheduled for May 2014. With this expansion, the total GLA in BarraShopping should increase to 78.9 thousand m and, in the BarraShopping complex, which includes New York City Center, to 101.2 thousand m. Key Money (% Multiplan) 3rd year NOI (% Multiplan) 3rd year NOI yield Internal rate of return (p.a.) R$32.2 M R$14.2 M 21.0% 23.6%
Expansion VII
Total added GLA Multiplan s interest Opening CAPEX (% Multiplan) 9.5k m 51% May 2014 R$100.0 M
The CAPEX for the project based on the interest held by Multiplan is of R$100.0 million. The company estimates Key Money revenues of R$32.2 million and a third year net operating income (NOI) of R$14.2 million, resulting in a third year NOI yield of 21.0%. The estimated internal rate of return (IRR) for the project is 23.6% per annum, real and unleveraged. Given the continuous growth in the flow of customers and vehicles in the BarraShopping Complex throughout the years, Multiplan started the construction of a new underground parking area with 628 spots. The increase in the number of spaces will also support the new expansion. Multiplan strengthens even more its presence in one of the regions with the highest growth rates in Rio de Janeiro, and adding to several other investments in Barra da Tijuca, among which is Village Mall, the new shopping center scheduled to be delivered in November 2012.
Armando dAlmeida Neto CFO and IRO
BarraShopping Expansion VII illustration faade
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BarraShopping Expansion VII illustration faade
BarraShopping Expansion VII illustration offices area
BarraShopping Expansion VII illustration internal area
Disclaimer: This document may contain prospective statements, which are subject to risks and uncertainties as they were based on expectations of the Companys management and on the information available. These prospects include statements concerning our managements current intentions or expectations. Readers/investors should be aware that many factors may mean that our future results differ from the forward-looking statements in this document. The Company has no obligation to update said statements. The words wish, "expect, "plan, and similar words are intended to identify statements. Forward-looking statements refer to future events which may or may not occur. Our future financial situation, operating results, market share and competitive positioning may differ substantially from those expressed or suggested by said forward-looking statements. Many factors and values that can establish these results are outside the Companys control or expectation. The reader/investor is encouraged not to completely rely on the information above. This document also contains information on future projects which could differ materially due to market conditions, changes in law or government policies, changes in operational conditions and costs, changes in project schedules, operating performance, demand by tenants and consumers, commercial negotiations or other technical and economic factors.
IR Multiplan
Tel: 55 21 3031-5200 Fax: 55 21 3031-5322
Address: Av. das Amricas, 4.200 Bloco 2 - Sala 501 Duplex Barra da Tijuca - Rio de Janeiro CEP: 22640-102 W e b s i t e : w w w . m u l t i p l an . co m. b r/ i r
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