{
  "docId": "019dd923-5e88-73ef-bd59-3b6bab73ddeb",
  "docSlug": "b558a119bfa2c54e",
  "documentTitle": "20230608 172439 CWCU 9YRZMYZ26FO0PKXJ.1",
  "authorId": "MorganStanley",
  "authorName": "Cromwell European REIT",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.778,
  "pageNumber": 4,
  "pageCount": 45,
  "prevPage": 3,
  "nextPage": 5,
  "slideType": "financial_analysis",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 25,
  "notes": "The slide tracks portfolio value by asset class over time (Dec-17 to Mar-23) and shows current portfolio composition.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "bullet_list",
    "bar_chart_stacked",
    "line_chart",
    "donut_chart",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd59-3b6bab73ddeb/4",
  "deckHref": "/decks/019dd923-5e88-73ef-bd59-3b6bab73ddeb",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd59-3b6bab73ddeb.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd59-3b6bab73ddeb#slide-4",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Focus on asset recycling in the near term; further non-strategic divestments in various stages",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-340c-7065-8a58-ee7993f12a9f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.42,
        "w": 0.58,
        "x": 0.038,
        "y": 0.405
      },
      "kind": "chart",
      "text": "Portfolio value by asset class over time",
      "attrs": null,
      "subkind": "bar-stacked",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "05d267ea-1710-415c-8f90-caa6711b24fb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.42,
        "w": 0.32,
        "x": 0.65,
        "y": 0.405
      },
      "kind": "chart",
      "text": "Portfolio by asset class",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d34fc1ee-b888-4e47-b351-0c45920fe57b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.95,
        "x": 0.038,
        "y": 0.225
      },
      "kind": "list",
      "text": "€107 million in five light industrial / logistics / life science acquisitions in FY 2022 at a blended 7.4% NOI yield and 11% discount to valuation\n€41 million in five divestments¹ in FY 2022 at a blended 20% premium to the most recent valuation\nFocus on asset recycling in the near term; further non-strategic divestments in various stages",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ae160e5e-0bd5-46e3-8758-d1026ec4257c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Portfolio value: €427 million",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-340c-7065-8a58-f26170674f7d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.685,
        "x": 0.038,
        "y": 0.135
      },
      "kind": "paragraph",
      "text": "~€427 million in acquisitions with an average 6.2% NOI yield since 2020 (up to 31 December 2022)",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3205d96b-d204-4b31-8126-1ea9f7197c85",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.7,
        "x": 0.038,
        "y": 0.91
      },
      "kind": "source-note",
      "text": "1. Two light industrial assets in Germany, one office asset in Finland, one light industrial asset in France and a logistics unit in Italy...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a9251805-b651-4c52-8a7f-faccdfecdfa8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.035,
        "w": 0.896,
        "x": 0.038,
        "y": 0.088
      },
      "kind": "title",
      "text": "Pivot to logistics continues – asset sales to reduce office and other categories",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "949ebcfe-2d5e-4e81-9370-cd418ded132a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 5,
      "from": 3,
      "beatId": "6e29f839-5b53-43ac-a9e9-d87ac027dec8",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Need",
      "beatSlug": "monroes-sequence-need",
      "evidence": "Portfolio challenges and strategic options",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [
    {
      "to": 5,
      "from": 3,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "9217ac73-473f-4ae3-a151-6e6835fd8327",
      "evidence": "Emphasis on portfolio challenges and potential risks",
      "position": 0,
      "objective": "Highlighting the need for strategic action",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}