Real estate portfolio
Elaia owns 30 real estates acquired over time, by implementing a focused investment strategy and considering specific criteria:
• Highest level tenants
• Location functionality selected as extremely strategic for the tenant
• Long-term lease contracts
• Expected life of lease contracts with tenants is generally longer than dept repayment
• Occupancy has been > 99,5% since the beginning of company’s asset management activity
• Most rental contracts define all ordinary and extraordinary costs to be borned by tenant.
The properties are located primarily in the central and northern Italy.
The total area is approximately 130,000 square meters, in addition to the related land.
The turnover generated in 2015 derived from property rental income and was around 11 million euros, which equals 93% of revenues.
Real estate development
Elaia owns 18 developing properties, with a total area of about 70,000 square meters, including buildings and land.
• The development properties all come from acquisitions prior to 2008
• 9 properties are ready to be placed on the market
• 9 properties are under construction
The company intends leave this business sector gradually.
The growth in real estate account for 6% of the company's assets.
• 7 photovoltaic systems on buildings with a total power of 440 kWp
Through its subsidiaries:
• 2 ground photovoltaic installations of 1 MWp power each
• 1 hydropower plant with a capacity of 1.3 MW
The annual electricity production amounts to 5.2 million kWh, able to meet the energy needs of about 6,500 residential users.
The turnover generated in 2015 by the activity of energy production was around 1 million Euro, equal to 1% of revenues.
Elaia's asset portfolio features a wide presence in the wealthy regions of Italy, premium - standing tenants and long residual duration of contracts.