management

CORPORATE OVERVIEW
Optimization in the Management of Assets, Investments,
and Strategic Real Estate Restructurings
CORPORATE OVERVIEW
VISION
To work in partnership with shareholders and
management to define and execute feasible solutions for complex problems in the real estate sector.
VALUES
• Communication.
• Objectivity.
• Partnership.
• Perseverance.
• Alignment of Interests.
• Confidentiality.
CORPORATE OVERVIEW
COMPLEX PROBLEMS REQUIRE TARGETED SOLUTIONS
PROBLEM
POTENTIAL SOLUTIONS
• Asset Level
• Entitlement/planning
• Construction
• Operations
• Asset Level
• Negotiation at the local level
• Budgeting and timeline implementation
• Proactive cash flow management
• Capital Structure
• Overleveraged
• Pending Maturity
• Lack of liquidity
• Capital Structure
• Refinancing of debt
• Restructuring of investment vehicle
• Sale and/or recapitalization
• Crisis Management
• Lack of capacity
• No local perspective
• Over-invested
• Crisis Management
• Provide additional set of hands
• Impart local knowledge
• Offer fresh third party opinion
• Investment Management
• Profitability
• Trust
• Adjustment investment needs
• Investment Management
• Good opportunities according risk profile
• Alignment of interests
• Diversification
CORPORATE OVERVIEW
GLOBAL APPROACH
BALANCE SHEET
ASSETS
LIABILITIES
ASSET
MANAGEMENT
FIXED Assets
Equity
LONG TERM Liabilities
WORKING
INVESTMENT
MANAGEMENT
FINANCIAL
ADVISE
CAPITAL
CASH MANAGEMENT
INCOME ESTATEMENT
+ Sales
- Cost of Sales
= Gross Margin
- Overhead
= EBIDTA
CRISIS
MANAGEMENT
CORPORATE OVERVIEW
ASSET MANAGEMENT
• Focused on real estate or portfolio specific issues.
• Work with ownership to maximize value at the
asset or portfolio level.
• Specific initiatives may include:
• Restarting the entitlement process including
negotiation with local officials.
• Completing physical development of an asset.
• Implementing operating plan that incorporates
best practices.
• Initiating and managing the sale of an asset.
• Selection and coordination of local third parties
including lawyers, architects, engineers, etc.
• Interact and interpret action of local government.
CORPORATE OVERVIEW
ASSET ANALYSIS
ACTION PLAN
MANAGEMENT
GOAL DEFINITION
S
N
LA
D
RESORTS
NIE
S
IONS
ASSETS
CO
OT
H
M
RIG
PA
G
M
N
TS
BUI
LD
I
DEVELOPMENT PLAN
PR
O
CORPORATE OVERVIEW
FINANCIAL MANAGEMENT
• Focused on issues related to cash management and equity and debt financing.
• Work with management to optimize cash flow and/or the capital structure.
• Specific initiatives may include:
• Implementing a cash management plan
• Analysis and optimization of current capital structure
• Review of alternative investment vehicles
• Preparation for a refinancing
• Leveraging existing banking relationships for new financings
• Introduction to prospective international investors including hedge funds,
real estate private equity funds and high net worth individuals.
Cash Flow Analysis
at short/medium
term
Optimization in
the Income
management
Measures of
expenses control
to adopt
Analysis terms of
the existing debt
DEBT
RENEGOTIATION
Measures of
investment control
to adopt
Practical
Business Plan
at short/medium
term
Raise new
Equity
Sale of nonoperative/operative
asset
CORPORATE OVERVIEW
CRISIS MANAGEMENT
• Focused on time-sensitive issues related to
corporate operations and overall strategy.
• Work with management to maximize results
and stabilize a challenging situation.
• Specific initiatives may include:
• Leverage existing third party relationships for
timely risk analysis.
• Development of short term action plan to minimize risk.
• Provide objective third party opinion in high
pressure environment.
• Develop a refinancing plan.
• Provide local perspective of real vs perceived risk.
• Strategic plan for dealing with third parties
including lenders and creditors.
• Work with management to develop a business
plan that ensures the continuity of the company.
• Prepare for bankruptcy if that is the best alternative.
CORPORATE OVERVIEW
INVESTMENT MANAGEMENT
• Search for Investment Opportunities according
to the defined Risk Profile.
• Detailed Analysis and Structuring of the Investment.
• Specific initiatives may include:
• Analysis of the Market looking for Opportunities.
• Suitability of Product to the Investor Profile.
• Preparation of detailed Business Plan.
• Structuring the business from a tax and mercantile point of view.
• Negotiation and Acquisition of Assets.
• Search and Negotiation of Financing.
• Asset Management.
• Reporting and Management Control of the
Opportunity.
• Implementation of Exit Strategies.
CORPORATE OVERVIEW
LOCAL PERSPECTIVE
• Spanish real estate requires a very local approach.
• Specialization that involves the identification of
the best professionals for each situation.
• Impulse can provide access to existing relationships with leading professionals such as:
• Legal counsel (City-planning, Bankruptcy,
Mercantile and Tax).
• Technical consultants / project management.
• Appraisers.
• Accounting/Administration.
• Construction.
CORPORATE OVERVIEW
BACKGROUND Jesús Abellán
• Former CEO and Chief Financial Officer of MedGroup,
a leading manager and developer of hospitality and residential real estate projects in Spain.
• As Managing Director, led MedGroup through two years
of extremely challenging operating environment which
required the refinancing of the majority of the Company’s
capital structure and the bankruptcy filing of multiple
subsidiaries.
• 12 years as member of MedGroup’s executive management team with specific responsibility for all parts of the
development process including entitlement, project
management, operations and financing.
• MedGroup partners included Soros Real Estate Investors,
Perry Capital, Citi Property Investors and other Spanish
and International investors.
• Prior to Medgroup, Chief Financial Officer of Cilsa, manager
of the Logistics Activities Centre in the Port of Barcelona
ESADE undergraduate and MBA.