Turkey's first real estate investment trust, MHR Gayrimenkul Yatırım Ortaklığı A.Ş. (MHR GYO), which is a subsidiary of insurance companies, is being offered to the public. 

MHR GYO, a subsidiary of Quick Sigorta and Corpus Sigorta, which belongs within the body of Maher Yatırım Holding will be offered to the public with the method of 'Sales via Stock Exchange' by means of Yapı Kredi Yatırım In the public offering, shares with a nominal value of 207 million TL, originating from the increase of MHR GYO's issued capital from 620 million TL to 827 million TL, will be offered for sale at 4.30 TL. After the public offering, the free float rate of MHR GYO will be 25 percent.

MHR GYO will use all of its public offering income for the purchase of new real estates, development of flat for land and revenue share in return projects, and financing of urban transformation projects in order to expand its real estate portfolio.

CARRIES ON ACTIVITY IN THE INDUSTRY OF OFFICE AND COMMERCIAL REAL ESTATES

Carrying on activity in the office and commercial real estate industry, MHR GYO has three independent units in its portfolio, including the Quick Tower project in İstanbul Ataşehir and the three independent sections at Maidan Business and Life Center in Ankara Çankaya. The rental income from Quick Tower and Maidan Business and Life Center, which are among the few office buildings with Leed Platinum certification, are transferred to the income statement on a straight-line basis.  According to the reports prepared by TSKB Gayrimenkul Değerleme A.Ş., while the total market value of MHR GYO portfolio is calculated as 2,880,980,000 TL (VAT excluded) as of 30.06.2023, it was stated in the report that the market value of Quick Tower was declared to have a market value of 2,856,245,000 TL (VAT excluded), and the market value of the 3 independent sections at Maidan Business and Life Center was stated as 24,735,000 TL (VAT excluded).