Portfolio Overview - Douglas Emmett's (DEI) office portfolio comprises 18 million square feet, representing 78% of total annual rent[13] - The multifamily portfolio consists of 4,410 units, accounting for 22% of total annual rent[13] - The company's total capitalization is approximately $7 billion, with annual revenues of approximately $1 billion[19] Market Position and Strategy - Douglas Emmett has approximately 39% average market share of Class A office space in its regions[19] - The company benefits from strong 3% to 5% annual rent increases in its leases[9] - Approximately 96% of DEI's leases are with tenants occupying less than 20,000 square feet[38] Financial Performance and Efficiency - Douglas Emmett's G&A expense as a percentage of NOI is 6.8%, allowing it to convert an extra 11.6% of NOI to cash flow compared to its benchmark group[45] - Recurring TI, LC, and Capex as a percentage of NOI is 14.2%, resulting in an extra 6.3% of NOI converted to cash flow compared to its benchmark group[45] - The company's annualized 2025 dividend is $0.76 per share[19] Sustainability - More than 84% of Douglas Emmett's eligible office space qualified for "ENERGY STAR Certification" as of December 2024[56] - The company has reduced its greenhouse gas emissions by 13% versus 2019 through December 31, 2024[56]

Core Project Overview - Indochina Kajima and ITOCHU Corporation held a ground-breaking ceremony for Core5 Vietnam's second industrial project in Hải Phòng, which will provide approximately 80,000 square meters of ready-built factory space for lease, with a handover expected in Q1 2027 [1][2] Strategic Location - Core5 Hai Phong Phase 2 is strategically located 20-25 minutes from Đinh Vũ port and Lạch Huyện Deep Sea port, 30 minutes from Cát Bi International Airport, and two hours from Hà Nội's central business district, facilitating seamless logistics and travel [2][3] Design and Features - The project will feature international standard factory accommodations with sizes ranging from 2,994 square meters to 24,912 square meters, equipped with necessary utilities, advanced firefighting systems, 24/7 security, and a signature curved curtain wall office design [3][4] Sustainability Initiatives - Core5 Hai Phong Phase 2 incorporates sustainability into its design, aiming for LEED Silver certification, with energy-efficient construction, solar rooftops, EV chargers, and designated health and wellness areas [4] Tenant Support Services - Core5 Vietnam offers a comprehensive one-stop solution for tenants, including market entry support, supply chain studies, licensing services, and customized leasing options to ensure efficient business operations [5][6] Management and Operations - The assets will be managed by Indochina Kajima's in-house facility management team, providing tailored solutions and timely maintenance responses based on a deep understanding of tenants' needs [6] Future Development Plans - Indochina Kajima is also planning additional projects, including Core5 Phu Tho, Core5 Quang Ninh Phase 2, and Core5 Hai Phong Phase 3, indicating a strong commitment to expanding its industrial real estate portfolio in Vietnam [11] Market Demand - The demand for ready-built factories in Vietnam is increasing, as evidenced by Core5 Vietnam's fully leased projects in Quảng Ninh and Hai Phong Phase 1, with Core5 Hung Yen maintaining an 80% occupancy rate [10]

Core Insights - International Land Alliance, Inc. (ILAL) reported ongoing sales activity and construction progress at its Baja California communities, with 3 new homesite sales at Rancho Costa Verde and 2 at Cabo Oasis Resort [1] - The Cabo Oasis Resort, launched in Q3 2024, has 500 planned home sites, representing over $15 million in gross lot sales potential and approximately $125 million in potential construction revenue [2] - Rancho Costa Verde is a 1,100-acre community with over 1,000 residential lots sold and over 100 single-family homes built, with 50 currently under construction [3] - The company has achieved several construction milestones, including the delivery of two completed custom single-family homes and ongoing roadwork in the Cabo Oasis community [3] - Cabo Oasis features 500 acres of master-planned development with ocean views and resort amenities, designed for sustainable coastal living [4] - ILAL focuses on acquiring land and real estate assets in Northern Baja California and Southern California, aiming to provide accessible housing solutions through innovative design and technology [5] Company Overview - International Land Alliance, Inc. is a publicly traded real estate development company based in San Diego, California, dedicated to sustainable and socially responsible solutions [6] - The company utilizes proptech and construction tech to enhance its development processes and aims to build environmentally friendly communities for vacation, retirement, and investment buyers [6]

Group 1 - Nextensa and ION have completed the sale of 100% of their shares in Monteco BV, which owns the Monteco building in Brussels, to Caisse d'Épargne et de Prévoyance Hauts de France [1][2] - The Monteco building, located in the Brussels EU District, offers approximately 3,760 m² of prime office space and 14 underground parking spaces, and has been fully occupied by Bank Nagelmackers under a long-term lease since its completion [2][3] - The transaction reflects a property valuation of €28 million, indicating strong demand for high-quality and sustainable office buildings in prime locations [2][3] Group 2 - Nextensa's investment portfolio is diversified across Luxembourg (32%), Belgium (51%), and Austria (17%), with a total value of approximately €1.1 billion as of June 30, 2025 [4] - ION is a leading project developer and real estate investor in the Benelux region, with a market value of projects under development amounting to €3.1 billion [6] - Both companies are recognized for their commitment to sustainable development and high architectural quality, with ION's project awarded Best New Development at MIPIM 2025 [6]

Core Insights - The Baltic Horizon Fund reported its unaudited financial results for the first half of 2025, showing a net rental income of EUR 6.1 million, a slight increase from EUR 6.0 million in H1 2024, and a net loss of EUR 891 thousand compared to a net loss of EUR 12.8 million in the same period last year [16][17]. Financial Performance - The portfolio's net rental income increased by 1.6% year-on-year, primarily due to higher occupancy in Galerija Centrs [16]. - The Fund's net loss for H1 2025 was significantly reduced by 93.1% compared to H1 2024, indicating improved operational performance [17]. - The fair value of the Fund's portfolio decreased to EUR 227.5 million as of June 30, 2025, down from EUR 241.2 million at the end of 2024 [18]. - The Gross Asset Value (GAV) also declined to EUR 238.8 million from EUR 256.0 million, largely due to the disposal of the Meraki office building [19]. Leasing Activity - During the first half of 2025, the Fund signed new leases for approximately 9,250 sq. m and extended leases for about 6,600 sq. m, attracting 30 new tenants [4]. - The portfolio occupancy rate was reported at 84.2% based on handover date, with a slight increase from 82.3% at the end of Q1 2025 [8][24]. - The Fund is facing challenges in achieving its occupancy target of 90%, with more expiries than new lettings in some properties [8]. Strategic Developments - The Fund is focusing on flexible and sustainable solutions to meet tenant demands and market conditions, aiming to increase occupancy and decrease the Loan-To-Value (LTV) ratio [9]. - A long-term partnership with Latvian State Forestry has been renewed, although the leased area will be reduced in line with government cost-saving measures [6]. - The Fund has initiated the delisting process of its Swedish Depository Receipts from Nasdaq Stockholm by October 2025 [10]. Operational Efficiency - The management team is conducting multiple tenders and evaluating cost-saving measures related to administrative services to improve operational efficiency [10]. - The Fund's cash inflow from core operating activities in H1 2025 was EUR 2.7 million, down from EUR 3.7 million in H1 2024 [22]. Investment Properties Overview - As of June 30, 2025, the Fund's portfolio consisted of 11 investment properties with a total net leasable area of 111.2 thousand sq. m [18]. - The occupancy rates varied across properties, with some like Vainodes I achieving 100% occupancy, while others like Upmalas Biroji BC reported only 64.3% [26].

Portfolio Overview - Douglas Emmett's (DEI) office portfolio comprises 182 million square feet, representing 79% of total annual rent[12] - The multifamily portfolio consists of 5,212 units, accounting for 21% of total annual rent[12] - The company's total capitalization is approximately $8 billion, with annual revenues of approximately $1 billion[18] Market Position and Strategy - DEI holds approximately 38% average market share of Class A office space in its regions[18] - The company is the largest office landlord in Los Angeles and Honolulu[18] - DEI's strategy focuses on small, affluent tenants in diverse industries, mitigating risk and reducing volatility[9] Rent Growth and Stability - DEI's leases benefit from strong 3% to 5% annual rent increases[10] - West Los Angeles has shown better long-term rent growth and less volatility compared to other gateway markets[10] - The company has experienced consistent rent growth through three down cycles, with a 34% compounded annual growth rate over the last 29 years[29] Operational Efficiency - DEI's efficient management and overhead allow it to convert an extra 112% of net operating income (NOI) to cash flow compared to its benchmark group[43] - Capex savings enable the company to convert an additional 63% of NOI to cash flow[43] Sustainability - More than 84% of DEI's eligible office space qualified for "ENERGY STAR Certification" as of December 2024[55] - The company has reduced its greenhouse gas (GHG) emissions by 13% versus 2019 through December 31, 2024, ahead of its 30% reduction target by 2035[55]