1. 1 / 20. januar 2015
Property Asset Management
The path to a higher and more stable return on property
investments.

2. 2 / 20. januar 2015
A CUSTOMER-ORIENTED
SERVICE COMPANY

3. DEAS Property Asset Management
Introduction
3
DEAS in brief
Established 1989
Ownership
DEAS Holding A/S, which owns DEAS
A/S and DEAS Property Asset
Management A/S
Number of
customers
Approx. 1,000
Volume
Approx. 70,000 units/leases
Approx. 2,000 properties
Revenue DKK 378.6 million (2013)
Employees
350 administrative employees
200 caretakers
(as well as employer responsibility for
an additional 700 caretakers)
Offices Copenhagen, Aalborg and Aarhus
Company
administration
PPP
Transactions
Advisory
services
Accounting
support
Centre
management
Technical
support
Facility services
Property
administration

4. DEAS Property Asset Management
Introduction
4
DEAS' track recordDEAS' business model
• High employee satisfaction: in 2014, DEAS was named
Denmark's fifth best workplace in the large company category
• High customer satisfaction: DEAS' ongoing polls of our
customers show high net promotor score (satisfaction)
• DEAS is Denmark's only "full service property house"
• DEAS is Denmark's largest administrator of investment
properties
• A specialized leader in such areas as Property Asset
Management, Centre Management and Public Private
Partnerships
• The most extensive quality assurance system in the Danish
property management sector
• DEAS ensures the highest degree of cost-effectiveness via
a centralized procurement function
• DEAS employees receive ongoing supplementary training, to
upgrade their qualifications
• DEAS PAM is approved by the Danish FSA as a manager of
alternative investment funds in the property area
• DEAS PAM works systematic with risk monitoring, risk
management and valuations
• DEAS PAM strives to ensure optimum coordination of the
services in our business model

5. DEAS Property Asset Management
Introduction
5
The traditional objective of Property Management (”administration”)
is to ensure that the property's value is preserved  a relatively
defensive objective.
The objective of Property Asset Management is more ambitious. Here,
the focus is on optimising and developing value  a more offensive
objective.
The means to optimise the return include
• A more active – or aggressive – adjustment of income and
expenditure
• Active management, with the achievement of profitable
modernisations, conversions, extensions, etc.
• Ongoing adjustment of the portfolio structure via purchases and
sales
• Diversification in terms of property types: office, residential, retail,
hotel, industry, etc.
• Diversification by using various types of ownership: Direct
ownership, joint ventures, funds, property shares, etc.
Why Property Asset Management?
CREATE
VALUE
OPTIMISE
VALUE
PRESERVE
VALUE
Company
administration
PPP
Transactions
Advisory
services
Accounting
support
Centre
management
Technical
support
Facility
Services
Property
administration

6. DEAS Property Asset Management
Introduction
6
DEAS Property Asset Management A/S is approved as a manager
of alternative investment funds (FAIF) by the Danish Financial
Supervisory Authority, under FSA no. 23000:
On February 2nd 2014:
Authorised manager of alternative investment funds (AIF)
 Portfolio management
 Risk management
 Valuation and pricing
 Control & compliance
 Marketing
 Other functions, including the fund's legal and accounting
requirements
On May 19th 2014:
Authorisation to manage investment portfolios (non-AIF)
 Portfolios owned by pension funds and labour-market related
pension funds
 Other portfolios that are not alternative investment funds
 Investment advisory services
The company's authorisations to undertake portfolio
management activities comprise the management of property-
based investments, including residential, commercial and
industrial properties, and other property-based strategies.
In addition, DEAS Property Asset Management is authorized to
provide investment advisory services.
DEAS PAM has the objective to maintain a transparent cost
structure, so that as many services as possible are included in a
fixed basic fee. Services with a considerable variable element are
fixed individually according to the specific requirement/burden.
 Property Asset Management
% of NAV (depending on property type)
 Company Management is included in the PAM fee
 FAIF administration/depositary services are included in
the PAM fee
 Property Management (”administration”) is included in
the PAM fee
 Purchase and sale:
0.25% of transaction volumes up to DKK 10 million +
0.10% of transaction volumes additional to this
 Facility Services:
Service level and costs are determined according to the
specific requirement
 Technical building consulting
Determined according to the concrete requirement
All outsourcing/delegation takes place on market terms, and all
services are subjected to ongoing competition.
All large-scale procurement benefits and discounts achieved, e.g.
via DEAS' central procurement function, fall to the customer in
their entirety.
Transparent cost structureFAIF-approved
Investor
Finance
Accounts

7. DEAS Property Asset Management
Services
7
• Preparation of strategy and action plans at property and
portfolio level
• Portfolio optimisation according to the adopted investment
strategy, including proposals for decision and subsequent
execution
• Ongoing optimisation, including property development and
modernisation, etc.
• Ongoing valuation (e.g. quarterly)
• Execution of purchase and sale of properties
• Letting, including establishment of lease contracts
• Ongoing contact and negotiation with tenants
• Management of delegated functions such as property
management (“administration”), facility services, technical
building consulting, letting and other suppliers
• Maintenance and optimisation of financing agreements
• Ongoing optimisation of tax and insurance
• Periodical delivery of accounting data in line with investors'
requirements
• Quarterly financial reporting adapted to investors'
requirements/wishes
• Risk management
• Contact with/reporting to depository
• FAIF compliance, including reporting to the Danish Financial
Supervisory Authority
Asset Management
Asset
Management
Company
administration
Property and tenant
administration
Technical
operation
Facility
services
Technical
building
department

8. DEAS Property Asset Management
Services
8
Secretariat function:
 Maintenance of company data
 Convening and preparation of Board meetings and AGMs
 Holding and following up on Board meetings and AGMs
 Ongoing servicing of the company's investors
Ongoing company administration:
 Ongoing company administration
 Contact with the authorities (Danish Business Authority, SKAT
(Danish tax authorities), etc.)
Accounts, etc.:
 Completion of annual accounts - coordinated with the
company's auditor
 Submission of accounts to the Danish Business Authority
Danish Financial Supervisory Authority:
 FAIF compliance – controlling and reporting, etc.
 Ongoing contact and coordination with the depository
 Ongoing communication with the Danish Financial
Supervisory Authority
Company administration
Asset
Management
Company
administration
Property and tenant
administration
Technical
operation
Facility
services
Technical
building
department

9. DEAS Property Asset Management
Services
9
Traditional administration:
 Ongoing contact with tenants concerning rent collection,
operational disruptions, etc.
 Drawing up rental contracts, inspection on occupation and
vacation statements
 Rent adjustment in accordance with contracts, including after
modernisation
 Operating and consumption accounts
 Collections and debtor control
 Administration of waiting lists
 Payroll administration, permanent employees
Operations:
 Operation and maintenance planning
 Service agreements, requests for proposals and their control
 Preparation of ten-year maintenance budgets
Accounts, etc.:
 Preparation of annual accounts
 Payment of invoices and fixed costs
 Bookkeeping and reconciliation
 VAT
 Preparation of operating budgets and budget control
 Appeals of public property valuations
Property administration
Asset
Management
Company
administration
Property and tenant
administration
Technical
operation
Facility
services
Technical
building
department

10. DEAS Property Asset Management
Services
10
Facility Services
 Caretaker services
 Janitor services
 Gardener services
 Receptionists
 Canteen operation
Technical building consulting
 Client consulting
 Technical consulting
 Energy management
 Modernisations
 Project design
 Invitations to tender
 Building management and case administration
Real estate agency
 Commercial leases
 Residential leases (including via Findbolig.nu)
 Sale of properties
 Buyer advisory services
Other services
Technical
operation
Facility
services
Asset
Management
Company
administration
Property and tenant
administration
Technical
operation
Facility
services
Technical
building
department

11. DEAS Property Asset Management
Organisation chart
11

12. DEAS Property Asset Management
Organisation chart
12
MANAGEMENT
Christian Melgaard
ASSET
MANAGEMENT
Michael Dinesen
Each customer or
portfolio of a certain
size is assigned an
asset manager who
holds the overall
responsibility for the
portfolio's performance.
In principle, the asset
manager is the
"customer" in relation
to the other DEAS
departments – and in
relation to the services
delivered to each
portfolio that is subject
to asset management.
ANALYSIS & RISK
MANAGEMENT
Kenni H. Kristensen
Khabat Khaled
Dennis Palmqvist
The analysis team
performs analyses for
existing and potential
asset management
customers. This might
be market analyses
and analyses of
individual properties
and portfolios.
The analyses must
serve to support both
asset management and
the transaction team.
COMPLIANCE
Charlotte Olsen
The Compliance
function ensures
that PAM is
always in
compliance with
FAIF legislation.
TRANSACTION
Christian Melgaard
The transaction team advises
on and (possibly) undertakes
purchases and sales for
customers.
The transaction team is
responsible for:
 Identifying purchase and
sales targets
 Preparing analyses
 Producing proposals for
decision
 Executing purchase/sale
 Performing due diligence
CONTROLLING
Morten Pedersen
The Controller
function reports to
the Danish
Financial
Supervisory
Authority in
connection with
the FAIF approval.
DEPOSITORY
The Depository
monitors the cash
flow in the AIFs.

13. DEAS Property Asset Management
Ask our customers - it's the results that count
13

14. DEAS Property Asset Management
Contact details
14
Contact details
Christian Melgaard
M.Sc.(Econ)
CEO/Managing director
Telephone no. : +45 39 46 62 23
Mobile : +45 25 34 19 91
E-mail : cme@deas.dk
DEAS Property Asset Management A/S
(Company reg.no. CVR xx xx xx xx)
Dirch Passers Allé 76
DK-2000 Frederiksberg