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3 February 2012

The M. Goldschmidt Group significantly increases its property portfolio

In continuation of the M. Goldschmidt Group's most recent acquisition of Folkets Hus/VEGA at Enghavevej 40, Copenhagen; the former headquarters of Citroën Danmark at Bådehavnsgade 38, Copenhagen; Copenhagen International School at Stockholmsgade 59, Copenhagen and Stæremosen 66, Gilleleje, the Group has made additional acquisitions:

Marienbergvej 108

Marienbergvej 108 in Vordingborg

This centrally located property was built in 2009 and comprises 2,038 sqm distributed on office and retail areas. It was acquired by the M. Goldschmidt Group with effect from 1 January 2012. The property is let to, among others, Sparekassen Lolland and SKAT, and is located next to the Vordingborg community centre, which includes a library and a music school. A 1,270 sqm shop inside the property is currently untenanted. However, immediately after the acquisition, we commenced negotiations with a groceries store for the letting of the shop. We expect the property to be fully let very soon.

Kamillevej 4

Kamillevej 4 , Tårnby Sundhedshus in Kastrup

This new red brick building was built in 2009 to be used by the Tårnby health centre, and since 1 June 2009 it has served the Municipality of Tårnby. The building also houses Denmark's first drive-in pharmacy. It is a modern and functionally designed property comprising 10 commercial units – all let on long leases to companies working in the healthcare sector: dentists, general practitioners, ophthalmologists and chiropractors as well as the Tårnby police department. The two-storey property has a small basement and excellent means of access, a lift and a large parking area behind the property. The area is characterised by residential development, and a school, an ice rink and a swimming bath lie in close proximity.

Strandvejen 141

Strandvejen 141 in Hellerup – front building

The former branch of Amagerbanken was recently acquired by the M. Goldschmidt Group. This very beautiful residential and commercial property dates back to 1879 and enjoys a prime location at Strandvejen in Hellerup. It was taken over by the M. Goldschmidt Group with effect from 1 January 2012. The ground floor and the lower floor previously housed Amagerbanken. In connection with the M. Goldschmidt Group's acquisition, these premises have been let to the Nykredit Group. On the other floors are beautiful luxury flats, all of which are currently let. There are parking spaces in the courtyard and in front of the property. In connection with this acquisition, the M. Goldschmidt Group also bought Strandvejen 141A in Hellerup – the rear building.

Strandvejen 141A in Hellerup – rear building

In connection with the acquisition of Strandvejen 141, the M. Goldschmidt Group also bought Strandvejen 141A. Built as recently as in 2009, this residential property comprises 13 well laid out commonhold units with private underground parking facilities. The entire property is currently fully let. The property is equipped with a lift, and the majority of the commonhold units have a balcony or terrace or access to a garden. The location is unique – situated in a very attractive residential area and within walking distance of the stores at Strandvejen, the beach and the Waterfront Shopping centre.

Herstedøstervej 7

Herstedøstervej 7 in Glostrup – former headquarters of Charles Christensen Gulve

This office and warehouse property covers almost 1,900 sqm. It has 11 offices, a presentable reception area/showroom and heated warehouse facilities and enjoys a prime location centrally in Glostrup with excellent access to major arterial roads and motorways.

Frederikssundsvej 62 A-B

Frederikssundsvej 62 A-B, 2400 Copenhagen NV

This 5-storey brick building was acquired by the M. Goldschmidt Group with effect from 1 February 2012. The 1,300 sqm property comprises 16 flats, each with a balcony facing Frederikssundsvej, three retail premises and a rear building with four offices. The front building dates back to 1934 and has four floors and a basement. The rear building, which has a lift, dates back to 1915 and consists of four floors and a high basement that can be used for office purposes. The courtyard will be renovated, and a playground and terraces will be set up for the residents to use.

The M. Goldschmidt Group's property company is pursuing a two-pronged strategy of investing in two different property segments: properties held for investment and properties for resale and development. The latter acquisitions will take place in continuation of the former acquisitions and in connection with our ongoing divestment of a major part of our fully developed properties held for resale. As a consequence, we need to get “new products on the shelf” as we spend 6 to 12 months developing and preparing our properties for resale. The timing of the above-mentioned acquisitions has thus been good.

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