Argentum

PORTFOLIO SUMMARY

Counting five predominantly office properties, Project Argentum is a close-to-stabilised portfolio with over 94% economic occupancy. Comprising a total of 46,316 sqm with properties ranging from 5,341 sqm to 15,662 sqm, the Portfolio is well-diversified in terms of size. The Portfolio currently generates actual rent of DKK 48.7m p.a. with an estimated stabilised rent of DKK 51.8m. Adjusted for the landlord’s operational expenses, investors will achieve an NOI of an estimated DKK 49.9m once the portfolio is fully stabilised. The largest properties in the Portfolio, Fairway House and Algade, are multi-tenanted properties with strong anchor tenants accounting for the majority of the rental income. A modern, prime-office building, Fairway House offers a multitude of shared amenities to tenants in addition to efficient and flexible office spaces. A mixed-use property, Algade offers retail space at street level as well as office, storage and two residential units. Three domicile buildings are home to Vanløse’s health centre, Sundhedshus Vanløse, and the Danish headquarters of blue- chip tenants G4S and IBM. Sundhedshus Vanløse serves as a health and rehabilitation centre and accommodates a broad range of doctors and health professionals, which are subtenants to the main tenant, Københavns Ejendomme.

With a long history dating back to 1982 when the Property was first constructed, Roskildevej is home to G4S and has been expanded and modernised over the years. With ample parking opportunities on and near the property, it is well suited for the company’s activities in private and corporate security. The IT giant IBM has selected Kongevejen as its Danish base. Originally constructed as the ISS global headquarter, the state- of-the-art property offers stunning views over a nature reserve and provides a prominent setting for hosting clients in the IBM Client Center. Located near major roads and highways and in close proximity to public transportation, the properties’ excellent infrastructure stands out. From central Copenhagen, the properties can be accessed within a 25-minute drive and Algade in 45 minutes. Of the 46,316 sqm, 3,788 sqm are vacant. The vacancy is a mix between prime office space in Fairway House, regular office space in Algade and storage areas in Algade and Sundhedshus Vanløse. Lease negotiations for the vacant office space in Fairway House are at an advanced stage. As regards Algade, it is worth considering the development potential associated with a conversion into residential usage, dividing the Property into individual properties and pursue separate divestments to e.g. local investors.

PROJECT ARGENTUM

Portfolio

Building area

Vacancy

Economic occupncy

Stabilised rent (est.)

Landlord opex Stabilised NOI

Property WALT

Actual rent

(Years)

(sqm)

(sqm)

(%)

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

(DKK p.a.)

(DKK p.a.)

(DKK p.a.)

Fairway House

2.9 3.5 4.2

15,662 9,737 6,946

1,899

84% 16,678,757 95% 9,949,953 99% 7,391,860 100% 9,564,209 100% 5,155,351 94% 48,740,130

1,065 1,022 1,064

19,120,807 10,511,290 7,459,360

121,758

18,999,048 9,546,225 7,154,944

Algade

1,618

965,065 304,415

Sundhedshus Vanløse

271

G4S HQ IBM HQ

4.3

8,630

0 0

1,108

9,564,209

360,842 109,934

9,203,367 5,045,417

1.0

5,341

965

5,155,351

The Portfolio 3.3

46,316 3,788

51,811,016

1,862,015 49,949,001

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