PIF Palma / Can Fontet Opportunity

Pre-Marketing Fund Facts

Luxembourg RAIF | SFDR Article 9 | Evergreen Build-to-Rent District Development | Professional Investors Only

0. At a Glance — Executive Summary Table

1. Philosophy & Vision

“Districts as systems of life — capital as their steward.”

PIF Palma (Can Fontet) is a flagship district-scale placemaking development transforming 102 acres of under-utilised land in Palma de Mallorca into a regenerative urban neighbourhood.

It demonstrates how long-term capital can deliver affordable, low-carbon, and livable communities within a profitable Build-to-Rent (BTR) model.

2. Investment Thesis — Why Now / Why Us / Why This Strategy

Why Now — Balearic housing shortages, climate policy mandates, and tourism diversification create a rare alignment of public support and institutional demand for green rental stock.

Why Us — The PIF platform links financial structuring, ESG integration, and placemaking expertise through strategic partnerships with Gehl People and Placemaking Europe.

Why This Strategy — “Develop-to-Green” unlocks long-term BTR cash flows through location arbitrage and embedded ESG value creation — turning land assembly and planning privilege into sustainable income.

3. Manager & Track Record

• wait, what. AG (Zürich): Investment and advisory firm specialising in systemic real-asset strategies.
• PIF Platform: District-scale placemaking fund family under Lux SICAV RAIF umbrella.

4. Investment Strategy & Structure

4.1 Investment Profile

• Use: 3,600 Build-to-Rent units + 58,000 m² office/retail + mobility & energy infrastructure.
• Scale: 102 acres · GFA 363,432 m².
• Revenue: ~ € 65 m p.a. gross · € 52 m NOI (trended).
• Yield on Cost: ≈ 5.2 %.
• Exit optionalities: evergreen yield retention or partial asset sale to institutional core investors.

4.2 Structure Overview

5. Market Context & Opportunity

• Palma de Mallorca is undergoing urban regeneration with municipal planning backing for Can Fontet.
• Local housing rents have increased > 25 % since 2020; supply of green-certified BTR stock is < 2 %.
• Strong infrastructure and ESG policy support under Balearic Decreto de Sostenibilidad Urbana.

6. ESG / Impact Framework

Classification: SFDR Article 9 – Sustainable Investment Objective.

Taxonomy Alignment: 100 % (EU Taxonomy Sections 7.1 Buildings & 7.2 Renovation).

Certification: BREEAM Excellent (or Spanish VERDE equivalent).

Impact Narrative: PIF Palma turns brownfield land into a climate-positive, mixed-use district that delivers social inclusion, local jobs, and long-term carbon savings aligned with EU taxonomy objectives 1 and 2.

7. Financial Overview & Key Terms

8. Governance & Risk Management

• Independent Investment Committee under AIFM oversight.
• External valuation (EPRA / RICS).
• Risk categories: market, construction, ESG non-alignment, currency, liquidity.
• Mitigation: municipal permits secured, phased development, institutional co-funding.

9. Timeline & Lifecycle

10. Partnership Network

• Urban Design: Gehl People · Placemaking Europe · STIPO.
• Municipality: City of Palma Planning Department (partner for public realm and mobility).

11. Contact & Next Steps

Next Steps: NDA → Data Room Access → Indicative Term Sheet → Subscription.

Annex A — Extended Risk & Legal Disclaimers

(for pre-marketing under AIFMD Art. 30 / Lux RAIF Law 2016)

• This document is for informational purposes only and is directed exclusively at professional investors.
• It does not constitute an offer or invitation to subscribe for interests in an AIF.
• Forecasts are forward-looking estimates and not guarantees.
• Past performance is not indicative of future results.
• Investments may lose value; liquidity is subject to development cycle timing.
• Tax treatment depends on the individual investor and may change.
• Redistribution without written consent is prohibited.