Finansiering og håndtering af potentielle investorer *Important* Please choose only one of these first four slides for the title slide of the presentation. Finansiering og håndtering af potentielle investorer Claus Sondrup

Agenda Kort intro Markedet – Investeringsejendomme Case gennemgang

Kort intro Claus Sondrup Direktør & Partner Statsaut. ejendomsmægler & valuar Colliers International Danmark i 10 år

Markedet Renteudviklingen i Danmark Historisk stort ”yield-gab” Historisk lavt renteniveau Historisk stort ”yield-gab” Afkast styres af likviditeten Før/efter finanskrisen Rentestigning = lavere afkast *Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box. 4 4

Markedet Investeringsejendomme: Status lige nu: Transaktioner kræver tid! Nødlidende ejendomme (gennembrud 2011) Høj grad af egenfinansiering (EK niveau 20% - lidt mindre på bolig) Værktøj: Byttehandler / porteføljetilpasning (behovsafdækning hos kunderne) Sælgerfinansiering Generelt: Et marked i bedring (se næste slide…)

Solgte ejendomme 2009 og 2010 Blandt andet Magasin i Århus, Odense og Lyngby og TV-byen i Søborg Kilde: Mæglersamarbejdet

Case Strandboulevarden 92-96 m.fl., København Ø Samlet etageareal: 14.599 m2 Udlejet på lange kontrakter til bl.a. Finanstilsynet og Region Hovedstaden Afkast 1. år: 5,15 % Afskrivningsgrundlag: kr. 106.506.035,- Pris: kr. 421.000.000,- kontant

Case Kalmargade 40, Aarhus N Boligprojekt med 80 2-værelses lejligheder under opførelse Samlet etageareal: ca. 4.500 m2 Unik beliggenhed tæt ved univesitet og andre uddannelsesinstitutioner Afkast 1. år ca. 5,65 % Pris: kr. 85.000.000,- *Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box. 8 8

Case Kongevejen, Holte – 100 mio. Pilestræde, Kbh. – 150 mio. Kongevejen 495 B, Holte Pilestræde 40 m.fl., København K *Important* To add sub-bullets, use the Increase/Decrease List Level buttons to increase the indent and add the correct bullet graphic. Slide numbers can be manually deleted. Select the slide number box and click delete. But… Best practice for removing the slide number at lower right is: Go to the Insert tab In the Text section, click the Slide Number button. The Header/Footer dialog will open. In the Slide tab, uncheck the Slide Number box and click Apply. To turn the slide number back on, follow the steps above, and at Step 3 make sure there is a check mark in the Slide Number box and click Apply. This works even if you have manually deleted the slide number box. 9 9