Von der Heyden Group deploys its Asset Management Division after being granted Regulatory License in Ukraine

Von der Heyden Group, an international investment firm on the European Real Estate market with a value of over 650 mln euro in aggregated invested assets has been granted an asset management license by the National Securities and Stock Market Commission (NSSMC) of Ukraine. The registered license establishes the Group, with a long track record of being a first mover in evolving free markets, as a pioneer to the investment potential that the Ukrainian real estate market offers. The license also marks the Von der Heyden Group as one of the very first foreign-owned real estate investment firms to obtain an asset management license in Ukraine over the last decade.

The license allows the Von der Heyden Group’s new asset management subsidiary to launch a real estate fund aimed at raising capital through the private placement of shares to professional investors with a minimum investment of 250k euro.

Robert Rottinghuis, Chief Executive Officer of the Von der Heyden Group: The economic growth over the past 5 years coupled with the unrivalled locations of Kyiv and Lviv for real estate investments and developments has shown an increasing demand for high quality commercial, industrial and residential facilities. In an unprecedented climate, our fund is designed to be one of the building blocks for institutional investors’ continued adoption of real estate assets in upcoming markets. It provides a unique opportunity to secure competitive target returns and stable cash flows for our Group as well as for our limited partners.

The Von der Heyden Group have established a best-in-class local team with extensive real estate management experience. The fund’s annual net Internal Rate of Return (leveraged, after taxes and fees) is targeted to be in the double digits over the seven-year life of the fund. The Von der Heyden Asset Management Company enables the Group to manage its own sponsored funds as well as that of other institutional investors in light of providing exposure to a rapidly developing and upcoming real estate market.

The Von der Heyden Group Asset Management Company in Ukraine marks the Group’s further expansion as an international private investment, asset management and real estate development firm with representative offices in eight countries.

VDHGAMC AMC License Press Release 15 10 2020 ENG

 

Knight Frank appointed lead agent to lease Andersia Silver – the highest office tower in Poznań

The Von der Heyden Group has appointed Knight Frank as lead agent to advise in leasing of Andersia Silver, a new office tower under construction in Poznań.

Andersia Silver, a modern A class office building, will complete the development of Plac Andersa in Poznań, one of the most prestigious locations in the city center. The building’s total leasable area amounts to circa 40,000 sqm over 25 floors. Tenants will also have access to 244 parking spaces in a three-floor underground car park.  Construction completion is scheduled for Q2 2023. Andersia Silver will be the tallest office building in Poznań at a height of 117.5m. The Investor plans to obtain LEED GOLD certification, attesting to ecological solutions applied both at the design and construction stages.

“We thank the Von der Heyden Group for placing their trust in Knight Frank. After its completion, Andersia Silver will be a prime office product located in the heart of the commercial center of Poznań.  In addition to panoramic views and arguably the best office location in the city, Andersia Silver will offer flexible floor layouts which have turned-out to be essential, in the times of the pandemic,” said Janusz Garstka, Associate Director at Knight Frank’s Landlord Representation.

 “We are glad to be working with Knight Frank. We highly value the competencies of their whole team as regards the leasing process and office market knowledge. The Von der Heyden Group always aims to develop high quality office buildings for the most demanding tenants. Andersia Silver will be no exception. We do understand the importance of prime location and a high quality office product for tenants whose aim is to attract and hire the most talented people to compete on the global market,” remarked Piotr Trybusz, Leasing Director at Andersia Silver.

Von der Heyden Group continues its expansion in Italy launching a regulated securitisation vehicle

Von der Heyden Group announces its continued expansion after launching a regulated Securitisation Vehicle in Italy. Founded in 1989 in Germany, the Group has developed an aggregate investment program of over €650m in private equity real estate across different asset classes around Europe. Through this latest initiative the Group continues to expand its asset management activities.

The Von der Heyden Group’s SPV (130/99), regulated by the Bank of Italy, provides the ability to securitise credits acquired on the Italian Asset-Backed Securities market, through the issuance of notes.

The team responsible for the Group’s Italian expansion is led by Antonio Fenech (Executive Director) and Andrea Massa Vannucci (Associate Private Equity).  The Group has already secured its first credit block acquisition in Tuscany.  The transaction involved one of the largest investment players in Italy.

Andrea Massa Vannucci, Associate Private Equity: “The Italian market represents an important pillar of our growth plan. We also look at it as a new investment proposition to professional investors that can be shared with our partners through a regulated structure. We are now focusing to continue building our portfolio with additional strategic allocations.”

Antonio Fenech, Executive Director: “Italy is developing a quite interesting and attractive credit resolution mechanism that brought into play a unique investment opportunity in acquiring credits backed by undervalued assets. As specialised real estate investors we have the ability to identifying such assets that can be acquired at values that offer interesting returns and diversification options to investors.”

For the Master Servicing the Group has partnered Zenith Service Spa, that has handled in excess of €27bn in volumes of transactions managed.   The team has engaged other established players in Italy including NPLs RE Solutions srl and Heussen Studio Legale e Tributario srl for special servicing and legal counsel respectively.

VDHG Launches SPV in Italy PR 01 10 2021

VON DER HEYDEN GROUP REPORTS AN INCREASE IN ITS ADJUSTED EBITDA MARGIN AND A SIGNIFICANT IMPROVEMENT IN TOTAL COMPREHENSIVE INCOME FOR 2021 STATEMENTS

Von der Heyden Group’s holding company TIMAN Investments Holdings Limited, today published the consolidated results for 2021 and reported an improvement in its adjusted EBITDA margin, the generation of positive cash flow from operating activities, increased investment levels while maintaining a strong liquidity position.

The Group holds for capital growth and income generation investments in 37 subsidiaries and associated companies across eight countries in Europe. The Group’s diverse portfolio is spread across four lines of business; its real estate developments, investments and services; hotel accommodation and catering; asset management; and private equity, venture capital and capital markets investments.

2021 END OF YEAR FINANCIAL STATEMENTS
These achievements have been recorded despite the longer-term effects of COVID-19 on the global economy, namely the ongoing travel and quarantine restrictions on the tourism sector as well as the disruption in logistics and increase in costs on the real estate industry.

Notwithstanding, the Group managed to improve its adjusted EBITDA margin to 37.2% (2020: 32.1%) of EUR 4,284,456 (2020: EUR 7,540,798) despite the decrease in overall revenue for the year to EUR 11,518,975 (2020: EUR 23,505,636) due to the cyclical nature of the real estate industry. Moreover, the Group recorded an increase in positive Cash flow from operating activities in the year by EUR 3,201,030 to EUR 868,274 positive (2020: EUR 2,332,756 negative).

The Group managed a significant positive turnaround of EUR 3,670,749 in its total comprehensive income from a loss of EUR 3,830,459 in 2020 to despite the loss, a near break-even position of EUR 159,710 in 2021. A significant achievement considering the challenging economic climate the Group was operating in.

The Group continued with its deployment strategy into new investments, while maintained sufficient liquidity to meet short-term liabilities including the liabilities for leases under IFRS 16. Applying the cash ratio as a measurement of the Group’s liquidity, (total cash and cash equivalents, including marketable securities to its current liabilities) the Group has a cash ratio of 1.26x. This demonstrates that the Group has the ability to meet the liquidity requirements of its short-term liabilities.

REAL ESTATE DEVELOPMENTS, INVESTMENTS AND SERVICES
The Von der Heyden Group’s proven track record continues to be a pillar of legacy with a reputation of delivering landmark developments in prominent cities such as Munich and Poznań.

Von der Heyden Group’s Real estate development arm remains the principal activity of our Group, fueling our growth ambitions and supporting the Group’s diversification strategy.  Over our 33-year history, the Von der Heyden development brand has been successful in delivering sizeable high-quality projects across Europe that not only provide substantial financial returns but also contribute to the well-being of the communities in which we operate, which is and  remains a core value of our Group. – Group’s Chairman  & Founder Sven von der Heyden 

The Andersia Silver project is the current flagship commercial A Class Building investment of the Group to be completed over the next three years. Subsequent to the excavation and underground completion during 2021, the projected EUR 110 million investment is due to commence its above-ground civil works phase imminently after the successful financing from a consortium of three reputable banks in Poland in March of this year. Andersia Silver will complete the what Poznań, Poland’s cityscape is today: a community-oriented bustling A-Class financial centre that offers a unique opportunity for businesses to claim a spot in one of the major thoroughfares of the city. This new tower will be the highest building in town, a 40,000 sqm of prominent office and commercial space spread over 25 above-ground floors. The fourth phase of this project will conclude a highly regarded 25-year public-private partnership with the City of Poznań.

The Group’s trusted reputation in generating significant returns in new and emerging communities has enabled the Group to enter three new markets including  Algarve, Portugal, Reževići, Montenegro and an investment in the renovation of two luxury Villas in Tuscany, Italy with another one planned in Menorca, Spain.

HOTEL ACCOMMODATION AND CATERING
As the Groups’ hospitality subsidiary continues to focus into more profitable and upmarket divisions, the revenue increased by 11% over 2021 to EUR 7,269,136 (2020: EUR 6,525,526), also surpassing by 8% the forecasts for the year of EUR 6,729,607.  Given the arduous economic conditions caused by the continuing global pandemic, such a result is highly positive on this segment.

Correspondingly, the Catering segment also saw significant improvements, with an increase of 25% in sales to EUR 2,234,564 (2020: 1,788,830). This success is synonymous with the growth of Hammett’s Collection as the Group continues to expand its partnership in its fourth restaurant brand in Malta.

ASSET MANAGEMENT
Another significant development in 2021 for the Group is the licensing of a special purpose vehicle by the Bank of Italy to acquire asset backed credits on the Italian market. This vehicle allows the Group to issue interest or dividend earning investment instruments that can be sold to investors to fund the acquisition of these credits or finance such acquisition through specialised banks.

The Group already acquired a block of credits, where the strategy is to expand this business through the acquisition of 2 to 3 block of credits a year and to continue to build a structure and network that enables the Group to identify interesting investment opportunities.

The Group suspended the Ukraine Asset Management Company operations in Ukraine following the Russian invasion. The Group had not committed to any real estate transactions in Ukraine and will only pursue this venture once Ukrainian sovereign integrity and stability is restored.  The Group is on the other hand taking several humanitarian initiatives to support vulnerable expecting mothers through their safe reallocation to Poland, as well as contributing medical supplies to Kyiv’s largest children hospital.

In over thirty years in the varied markets and sectors in which we operate and continue to operate, our geographical diversity has demonstrated the power of flexibility to adapt and change strategy in an ever-changing climate. Whilst we aim to use this strength to achieve high stabilized financial returns, our vision continues to align with our own and our shareholders’ corporate, social, and environmental sustainability expectations. – Group’s CEO Bob Rottinghuis

PRIVATE EQUITY, VENTURE CAPITAL AND CAPITAL MARKETS INVESTMENTS
The strong liquidity position maintained will allow the Group to continue financing its investments and enable it to seize new opportunities that may arise in the future to expand its existing portfolio of private equity and venture capital investments as well as selective capital markets instruments to generate stable returns on its excess working capital.

The Group looks forward for 2022 with reinvigorated optimism despite the ongoing challenges brought about by inflationary pressures, the war in Ukraine, the remaining effects of the COVID-19 pandemic and other external pressures. The Board of Directors would like to express their gratitude to the Group’s employees and business partners for their continuing support and contribution to its success.

TIH FS 2021 PRESS RELEASE

Von der Heyden Group announces the appointment of Anuschka von der Heyden as Head of Sustainability

The Von der Heyden Group is pleased to announce the appointment of Anuschka von der Heyden as Head of Sustainability effective on the 1st July 2022. This newly created role reflects the Group’s deep-seated commitments on climate change and ESG.

Joining the family business in a time of further expansion into new markets, Anuschka will lead the development and implementation of the Group’s ESG strategy. This appointment also aligns with the Group’s vision which aims to incorporate sustainable principles across its operations.

Anuschka von der Heyden said, “For quite some time, I have been seeking a role directly involving me in positive change. My aim is to create and execute strategies that will help the Group become more sustainable on both environmental and social levels. Our future depends on fragile ecosystems, and it is for us to own up to the impacts of our actions. This is particularly relevant to our expanding operations in the tourism and experiential industries. Our vision is to preserve and create value for today’s generations and tomorrow’s.”

Anuschka von der Heyden graduated from the University of Arts in London with a first-class honours degree and comes to the Group following a five-year stint in marketing and PR in London where she worked on several household brands and stock listed multinationals.

Bob Rottinghuis, Chief Executive Officer for the Group commented: “The Group’s ESG programme is a key pillar of our growth strategy. I am certain that Anuschka’s creativity and drive will take us beyond economic success and help us strengthen our ties to the international communities in which we operate and deepen our commitment to ESG”.

In the coming years, the Group will be taking measures to reduce its carbon footprint and engage in green energy business opportunities.

The Von der Heyden Group warmly welcomes Anuschka aboard and wishes her all the success and fulfilment in this key role in the Group.

Von der Heyden Group celebrates the Cornerstone Ceremony of Andersia Silver, Poznań’s highest Skyscraper

Von der Heyden Group has commemorated the start of the above-ground works of Andersia Silver, Poznań, Poland by laying the first stone of its 25 above-ground floors during an inaugural ceremony. The Group’s flagship project, a 40,000 sqm A-class office tower having an investment value of over EUR 105 million, has secured bank financing as well as 10% of its office tenancy in pre-leases ahead of its construction.

The 116 m high skyscraper, Poznań’s highest building after Andersia Tower (105,2 m) is being developed through a joint venture company between the Von der Heyden Group and the City of Poznań with PORR as international and leading general contractor. The ceremony was hosted by Chairman and Founder of the Von der Heyden Group, Sven von der Heyden, Poznań’s Vi-ce Mayor Mariusz Wiśniewski, Managing Director of the Group’s Development arm in Poland, Adam Trybusz and PORR’s CEO Mr. Karl-Heinz Strauss.

The finalization Andersia Silver’s core construction to be finalized in 2023 marks over a quarter of a century of the Von der Heyden Group’s development and co-investor partnership project with the City of Poznań after Poznań Financial Center, Andersia Tower and Andersia Business Center, completed in 2001, 2007 and 2012 respectively.

This will be the fourth and final phase of Von der Heyden Group’s Anders Square project, establishing a reputation of timely and successful delivery of award-winning projects that have shaped the landscape of the city.

“The start of the above ground works of the Andersia Silver project marks the final addition to Anders Square. This state-of-the-art smart building will be designed to the highest standards and ESG solutions, making it a building of tomorrow for a world in transition. For more than a quarter of a century we have strived to achieve what Poznań’s cityscape is today: A bustling, community-oriented location with an A-class tenant structure and a unique opportunity for businesses to claim a spot on one of the major thoroughfares in the city.”- Sven von der Heyden Chairman & Founder of the Von der Heyden Group.

Andersia Silver is designed for gold-level LEED certification and ESG-compliant solutions that will include photovoltaic cells on the facade of the building and electric vehicle charging stations in the parking lots.

Poznań is the fifth-largest city in Poland, a centre of trade, located between Warsaw and Berlin with a metropolitan area and population of around 1.1 million. The Poznań office market has shown resilience over the past years both in terms of low vacancy rates and new office take up, proving itself to be one of the best performing regional cities in Poland.

 

 

Von der Heyden Group Finance PLC fully subscribes €35 million Bond Issue

Von der Heyden Group Finance PLC has announced that its new ten-year €35 million bond issue with an annual interest rate of five per cent has been fully subscribed, with its offer period closing earlier. The Bond Issue was allocated amongst the maturing Bondholders and authorised financial intermediaries in accordance with the terms of the Prospectus, with subscriptions closing early on the 24th of November 2022.

The intermediaries offer closed before its due date on the 2nd of December. The new unsecured bonds, having a nominal value of €100 per bond issued at par, are guaranteed by the Group’s parent company, Timan Investments Holdings Limited.

The bonds are expected to be admitted to the Official List of the Malta Stock Exchange on the 16th of December, and trading is expected to commence on the 19th of December.

Chairman of Von der Heyden Group Finance Tonio Fenech thanked the investing public, particularly maturing and new bondholders and authorised financial intermediaries, for their unwavering support in this Bond issue.

Sven von der Heyden, Chairman and Founder of the Von der Heyden Group, mentioned how 2022 was a defining year, having started the above-ground works of Andersia Silver, the final development phase of Poznań’s Financial district in Poland, taken steps to acquire its flagship luxury boutique hotel in Malta as well as other investment classes in the European markets of which the Group operates.

The success of the Von der Heyden Group bond issue was possible through the guidance and support of several entities, including Calamatta Cuschieri (Sponsor & Co-Manager), GVZH (Legal Counsel), and EY (auditors and financial advisors).

Press Release VDHG Bond Issue Fully Subscribed 25 11 2022

VON DER HEYDEN GROUP REPORTS A 32% INCREASE IN OVERALL TURNOVER WITH IMPROVED PROFITABILITY

Von der Heyden Group’s holding company TIMAN Investments Holdings Limited, reported its consolidated results for 2022 that saw a 32% increase in the Group’s overall revenue, reaching €15.2 million. A significant improvement in profitability has also been achieved with an increase in adjusted EBITDA by 10% to €4.7 million.

TIMAN Investments Holdings Limited and its subsidiaries (collectively the “Group”) is involved in real estate investments and development, hospitality and catering, and other private equity investments across Europe including Germany, Italy, Malta, Poland, and Spain.

The accommodation segment of the Group contributed to 84% of the Group’s overall increase in revenue which itself saw a 43% growth from last year to €10.4 million. The improved results were due to the increased occupancy levels and higher room rates which were complemented with the cost efficiencies realized through the recent restructuring in operations. The catering segment also saw improvements, with an increase of 6% in sales to €2.4 million.

The Group’s strategy of growing its luxury offering under the Cugó Gran Collection brand, continues as it targets new properties and operations in Malta, Italy, Spain and Costa Rica.

These achievements have been recorded despite the continued pressures from inflation, as a result of the war in Ukraine, disruption in supply chains and an increase in energy prices.

The Group’s total assets increased by 6% from the previous year, reaching €142 million. Attributing factors include improved operating results, further investments in the development activities, and fair value gains.

During the year under review, the Group’s investment properties have also increased by a significant 38%, reaching a total of €45 million. This increase was mainly driven by the construction of Andersia Silver, a 26-storey A-class office tower, the Group’s flagship development in Poznań, Poland. The project, will complete the four phase 27-year partnership with the City of Poznań and is progressing at a construction pace of two levels per month, with the shell and core expected to be completed by Q1 2024.

In Q4 of 2022 the Group successfully raised a €35 million 5% unsecured bond with a 10-year term, maturing in 2032 on the Malta Stock Exchange. As part of the new bond issue, the Company early redeemed its €25 million bonds that were due to mature in 2024. The bondholders representing 78% of the €25 million bond, for a total of €19.5m, rolled-over their holdings to the new €35 bond, a testament to the bondholders’ unwavering confidence in the Group.

The Group has also published its first ESG report, communicating the environmental and social impact of its activity and the steps being taken, aimed to reduce its total energy consumption and carbon footprint in line with the objectives of the European Green Deal.

Press release 29 04 2023