Project Argentum

PROJECT ARGENTUM

Danish high-volume office portfolio investment opportunity with a rental income of DKK 47.9m p.a. Diversified cash flows from two multi- tenant and three single-tenant office properties Strong income security with top-tier corporates like IBM, Q8, Nestlé and G4S generating 84% of rental income

High occupancy rate of quality assets, with three assets virtually fully let

Poised to take advantage of the strong office market fundamentals in the region AAA-rated Denmark offers an attractive investment environment with inexpensive financing opportunities

LOCATION CAPITAL REGION - THE PREMIER GROWTH CENTRE OF DENMARK

3

16%

50%

Helsingør

times higher job growth relative to the national average since 2010

of the population aged 15+ are highly educated relative to the national average of 9.3%

higher real GDP growth relative to the national average since 2010

Frederiksværk

DENMARK

Aalborg

Hørsholm

Allerød

Aarhus

Birkerød

Lynge

Vejle

Frederikssund

IBM HQ

Copenhagen

Esbjerg

Gerlev

Farum

Odense

Lyngby

Veksø

Jyllinge

Skibby

Gentofte

Ballerup

Copenhagen

Sundhedshus Vanløse

Glpstrup

Roskilde

GS4 HQ

Høje Taastrup

Algade 14-18

Hvidovre

Fairway House

Kastrup

Dragør

Køge

Note: Roskilde not part of the Capital Region of Denmark

PROJECT ARGENTUM PORTFOLIO

Fairway House Address: Arne Jacobsens Allé 7, DK-2300 Copenhagen S Anchor tenants: Nestlé, Regus, Q8 Danmark GLA: 15,662 sqm Actual rent: DKK 15.9m p.a., averaging DKK 1,218/sqm Stabilised rent: DKK 18.9m p.a., averaging DKK 1,207/sqm WALT: 3.13 years Economic occupancy: 84% Algade 14-18 Address: Algade 14-18, DK-4000 Roskilde Anchor tenants: Nordea, Arbejdernes Landsbank GLA: 9,737 sqm Actual rent: DKK 9.9m p.a., averaging DKK 1,433/sqm Stabilised rent: DKK 10.5m p.a., averaging DKK 1,080/sqm WALT: 3.51 years Economic occupancy: 95%

Sundhedshus Vanløse Address: Indertoften 10, DK-2720 Vanløse Single tenant: Københavns Ejendomme GLA: 6,946 sqm

Actual rent: DKK 7.4m p.a., averaging DKK 1,108/sqm. Stabilised rent: DKK 7.5m p.a., averaging DKK 1,074/sqm WALT: 4.22 years Economic occupancy: 99% G4S Danish headquarters Address: Roskildevej 157-159, DK-2620 Albertslund Single tenant: G4S Security Services GLA: 8,630 sqm Actual rent: DKK 9.6m p.a., averaging DKK 1,108/sqm

WALT: 4.29 years Occupancy: 100%

IBM Danish headquarters Address: Kongevejen 495b, DK-2840 Holte Single tenant: IBM Danmark GLA: 5,341 sqm Actual rent: DKK 5.2m p.a., averaging DKK 965/sqm WALT: 1.00 year Occupancy: 100%

Note: Rental income and WALT quoted as at 1 Jan. 2018. WALT includes notice period.

Triple-A rated economy Known for its attractive investment environment, Denmark tops the World Bank’s list for ‘Ease of Doing Business’ and is one of only nine countries worldwide to enjoy AAA credit rating.

Buoyant office market

Driven by an increasingly strong labour market in Denmark in general and in Greater Copenhagen in particular, office vacancy levels are edging down also in non-CBD submarkets. Accordingly, rent levels are climbing in more secondary office locations, including the locations represented in the Project Argentum Portfolio.

Stable economy, with currency pegged to EUR

Office vacancy

15%

Record-low interest rate level

12%

9%

6%

Strong economic growth momentum, 1.7% in 2016

3%

0% 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17

Efficient mortgage bank system offering inexpensive financing

CBD Greater Copenhagen, excl. CBD

Source: Ejendomstorvet.dk

Sales process outline Niam Core-Plus Denmark II AB c/o Niam AB, Stockholm (the Seller) intends to divest all shares in the two limited partnership companies, K/S Niam Core-Plus 1 and K/S Niam Core-Plus 2, owning the five office properties included in the Project Argentum Portfolio. Subject to their signing a non-disclosure agreement (NDA), prospective buyers will be granted access to an Investment Memorandum, a preliminary virtual data room as well as site visits accompanied by a representative of the Adviser.

A structured sales process is scheduled to commence in September 2017, targeting closing by Q1 2018.

For more information, please contact Sadolin & Albæk, Copenhagen

Kristian A. Nielsen Senior Consultant

Anne Sofie Raaschou Sigaard Manager

Peter Winther Partner, CEO

T: +45 31 44 14 42 E: kan@sadolin-albaek.dk

T: +45 24 94 09 74 E: ars@sadolin-albaek.dk

T: +45 28 19 66 76 E: pw@sadolin-albaek.dk

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