Project Pecunia Teaser

PROJECT PECUNIA PORTFOLIO

The Portfolio comprises six prime properties offering second-to-none cash-flow certainty and significant value increment potential. All properties are mixed-use residential and commercial properties, with commercial units mainly consisting of ground-floor retail units. In terms of GLA (Gross Lettable Area), the residential units account for 70% of the Portfolio. Residential units are generally let at rents significantly below market rent level. It is possible to tap into very substantial rent reserves by means of modernising units as they are vacated in order to re-let them at higher rent levels. Originally, Jyske Bank A/S (the Seller) operated banking services from all properties. Today, there are remaining branch offices in all properties but one (no. 3, see table below). As part of the proposed transaction, Jyske Bank A/S will remain tenant in five commercial units, taking a gross lease carrying three-year tenant non-terminability (and a proposed ten-year landlord non-terminability) with rent indexation in step with NPI.

1

2

3

6

4

5

No.

GLA

Rental income Actual rent

Opex Total

NOI

Resi

Comm Total

Resi

Comm Total

Year 1

(sqm)

(sqm)

(sqm)

(DKK/sqm/p.a.)

(DKK/p.a.) (DKK p.a.) (DKK p.a.)

1

3,649 1,270 1,778 2,257 1,847 4,107

1,599

5,248

786 991 961 567 799

1,440 5,169,712 1,180 2,271,854

1,488,520 3,681,192 675,730 1,596,125 806,257 1,360,971 1,023,644 1,941,618 702,884 1,575,960

2 3 4 5 6

859 556

2,129

2,334 3,310

825

2,167,228

1,053

1,600 2,965,262 1,717 2,278,844

468

2,315

1,891

5,998

911

1,210 6,028,599 2,366,408 3,662,192

Total

14,908 6,426 21,334 827

1,331 20,881,501

7,063,443 13,818,057