OSKARGROUP
JUNE, 2020
INVESTOR UPDATEREAL DANMARK A/S – 2020 Q2
Since the acquisition of the three properties, a lotof
development have taken place.
Several agreements have been made and the first
demolition work is done.
The Oskar Group team in collaboration with architects,
engineers, contractors are working actively with the projects
and are in close dialogue with municipalities, potential tenants,
investors and otherbodies.
INVESTOR UPDATE
THE PORTFOLIO
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As Denmark and the rest of Europe reopen in the shadow of the corona crisis,
the transaction volume for commercial and investment properties will more
than double in the second half of 2020 compared to the first half of the year,
the global real estate transaction firm, Colliers, foresees in a recently published
market commentary.
Despite continued travel restrictions, Colliers reports that international
investors are already back in the Danish market.
Link: ttps://ejendomswatch.dk/Ejendomsnyt/Investorer/article12204379.ece
STATUS WITH COVID19
INVESTOR UPDATE
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INVESTOR UPDATE
KØBMAGERGADE 57 is located in the inner-city shopping district and the two buildings includes two retail
units and seven residential units with a total gross lettable area of 1.309 sqm.
BLEGDAMSVEJ 124 is a 6.186 sqm (empty) office building situated less than 2,5 kilometers for CBD. The
Metro stop, Trianglen is situated 30 meters from the building. The property is sold on a forward sales
agreement to a large Dansih Pension Fund.
ROSKILDEVEJ 547 is situated next to another project of Oskar Group (Oskar Office) in Brøndby. The
property is an empty site and the Company have signed a lease contract with Zleep Hotels and is currently
in the final negotiations with Burger King and another potential tenant who is expected to lease the ground
floor.
THE PORTFOLIO
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INVESTOR UPDATE
• Acquisition cost represents DKK 112m
• Future valuation of DKK 203m made by Colliers with a
yield of 3,50%
• Value increase due to the 400m2 extension of the property
• NOI estimated to increase from DKK 3,34m to DKK 7,11m
KØBMAGERGADE 57
• Oskar Group are considering to convert the residential
units in the courtyard to offices.
• Further will there be an establishment of two penthouse
apartments in the attic.
• The Company have received materials from their architects
illustrating the extension of the property with approx. 400
m2.
• Construction and development is estimated to be
completed within 24months from the bond issue
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• Due to the current COVID-19 situation for retail units in
Denmark, the project development is deliberately slowed down
and postponed to 2021, since the property is fully let and
creates a solid cash flow.
• Both tenants (telephone operators) are paying their rent as
usual.
• The Company is considering several development opportunities
for the property.
INVESTOR UPDATE
BLEGDAMSVEJ 124
• Acquisition cost of DKK 143m
• Future value of DKK 284m with a yield of 4,00%
• Value increase due to refurbishment and optimization
of the property
• NOI of DKK 11,35m with rental levels of DKK 1,800/ m2
• The property will be extended with over 100 m2
• The building will be developed, and the ground floor
will include a LIDL store
• Remaining building intends to be leased to
etablished companies for office use.
• Construction and development is estimated to
be completed approx. 12 months after the
acquisition
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• The property has been sold to a Danish Pension
Fund on turn-key basis
• Retail area has been signed with LIDL
• Demolition is almost finished
• Oskar Group are negotiating with several office
tenants and have sent out term sheets to numerous
potential tenants.
• Building permit for the office facilities and
Supermarket has been approved.
INVESTOR UPDATE
ROSKILDEVEJ 547
• Acquisition cost of DKK 18m
• Future value of DKK 141mwith a yield of 5,25%
• NOI of DKK7,8m when completed
• Sign agreement with ZleepHotel
• Additional building rights valued to DKK 15,7m resulting in a
total sales price of DKK 158m
• New development of a 3,999 m2 building which will be
used as hotel and restaurant
• 133 rooms and an estimated NOI of DKK 7,8mannually
• The building will also contain a parking garage
• Construction is estimated to approx. 12 months
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• Signed lease agreement(20Y) with Zleep Hotel
• We are in great dialogue with Carls Junior. (earlier
we where in dialogue with Burger King, but due to
COVID19, we have decided to work further with Carls
Junior)
• Nordic Hotel Consulting (NHC) has initiated the sales
process based on a yield of 5,25 % .
• Full project description has been filed and building permit is
approved
INVESTOR UPDATE
VALUATION
• “As is” valuation of Kømagergade, Blegdamsvej and Roskildevej are based
on valuations performed by professional and reputable valuation firms
• A valuation of the property at Købmagergade made by Cushman &
Wakefield set a value of the property to DKK 203m at a yield of 4 %
• Future value of Roskildevej has been valued to DKK 156,6m by Nordic
Hotel Consulting on a yield of 5,50%
• The Group has signed a SPA with a Danish Pension Fund on
a turn-key basis. Sales price has been set to yield of 4 % which
corresponds to a price of DKK 281m
Nordic Hotel Consulting is the leading
hotel advisory in the Nordics and provide
fully integrated solutions to investment
advisory and asset management
COLLATERAL
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INVESTOR UPDATE
HENRIK WESSMANN JENSEN
• 4 0 years of experience within property development in
Denmark and has worked in Oskar Group since 1979
• Became CEO and owner in 1991
• Previous key projects include development of the HQ of
Rederiet Norden and Finanstilsynet, store facilities for
Abercrombie & Fitch, Acne and H&M Group in Copenhagen
MATHIAS HARTMANN BONDE
• 8 years of experience from the real estate sector
• Prior to Oskar Group, Mathias has worked as investment broker
and have great experience within the field of commercial real
estate investments and valutation
• Holds a MSc degree within International Business and Law
JESPER CORDSEN
• More than 20 years of experience from international business
development and management
• Previous experience: CCO KEH Group (Facilities Services), Partner/
Managing Director at YOU Brands Denmark (Wholesale) and manage-
ment positions in BASF, Hempel and Schulman Plastics (Technology)
• Holds an MBA from Newport University, California
BO SATTRUP
• More than 20 years of experience as CFO and top executive manage
ment from listed and PE owned companies in many different sectors
• More than 7 years of experience from the real estate sector
including 2 years as CEO spear heading a turn around
• Holds a BA in finance and accounting from CBS, Copenhagen and an
Executive Business Master Certificate from Center for Ledelse, Cph
CHRISTOFFER PLOUG
• Over 15 years of experience from the real estate sector
• Prior to Oskar Group, Christoffer been CEO at Welcom A/S (Telecom),
Legal and Financial Manager at Ejendomsinvest (Real estate) and COO at
Borch Invest (Real estate)
• Specialist within property tax and financing
• Holds a law degree from University of Copenhagen
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INVESTOR UPDATE
HENRIK WESSMANN JENSEN
• 4 0 years of experience within property development in
Denmark and has worked in Oskar Group since 1979
• Became CEO and owner in 1991
• Previous key projects include development of the HQ of
Rederiet Norden and Finanstilsynet, store facilities for
Abercrombie & Fitch, Acne and H&M Group in Copenhagen
NILS THYGESEN
• More than 20 years of experience as CFO and top executive
management in Real Estate and Finance: Bank of America, ABN,
Oskar Jensen, Keops Group, latest as Partner and Deputy
Director in the Thylander Group.
• CFO in Thylander Group.
• Expert in Fund- and Treasury Management, Corporate Finance, Real
Estate
• Holds a degree from INSEAD and Copenhagen Business School.
HENRIK FRISCH
• Extensive experience at C level positions in large Danish
companies. Among those Toms Gruppen and Scandlines
• Investor in Real Estate for more than 30 years.
• Board experience from different industries. Among those
Chairman in listed BoStad A/S
• Holds a Master of Science (MSc) i Business Administration
THE BOARD
BOARD MEMBERS:
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