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Property Date City Type

The Golden Edge 12-Jun Amsterdam Office

Stabilized Annual Income 2017


Occupanacy % 70
Potential Gross Income (PGI)
Less: Vacancy and Collection losses (VC)
Miscellaneous Income 600000
Effective Gross Income (EGI) 5394288
Less: Operating Expenses (OE) 809143.2
Fixed Expenses
Real estate Taxes
Insurance

Variable expenses
Utilities
Garbage Collection
Supplies
Repairs
Maintance
Managment
Total Operating Cost 809143.2
Less: Reserves for leasing and capital exp
Roof and other exterior expenditures
Tenant improvments
Leasing Commissions
Total reserves for capital expenditures
Net operating income (NOI) 4585144.8

DCF 4397464.717
1
Notes Vacancy amount = ave price x m2
Norges Bank contract experied 2019 but they were willing to exte
Old 320, New 425

2019 From 2019, the operating expenses are 15% of year 2018 and not
2020 New contract for starbucks and Accenture
Missing 7 months rent 1115625
10 year contract for 400 instead of 425 1125000
Debt Equity Total Value LTC% Total Size Price per m2
66562560.00 22306011.00 88868571.00 74.9 22000.00 4039.00

Stabilized Annual Income 2018 Stabilized Annual Income 2019


70 87

600000 600000
5394288 6123000
809143.2 809143.2

809143.2 809143.2

100000
4485144.8 5313856.8

4125485.6901 4600335.631
2 3

d 2019 but they were willing to extent it with 10 years

penses are 15% of year 2018 and not 2019. Due to rent increase but space use is constant
nd Accenture
Stabilized Annual Income 2020 Stabilized Annual Income 2021 Stabilized Annual Income
87 87 87

600000 600000
6628125 6817500
809143.2 809143.2

809143.2 809143.2

100000
5818981.8 5908356.8

4761436.678 4598121.913
4 5
Stabilized Annual Income 2022 Stabilized Annual Income 2023 Stabilized Annual Income 2024
87 87

600000 600000
6992500 7117500
809143.2 809143.2

809143.2 809143.2

6183356.8 6308356.8

4576788.345 4440946.322
6 7
Annual Income 2024 Stabilized Annual Income 2025 Cash Flows
87

600000 600000
7117500 7117500
809143.2 809143.2

809143.2 809143.2

100000
6208356.8 6308356.8

4156795.859 4017177.587
8 9
Old Loan
R0, overall capitalization rate 0.0427
m 0.7490000036
Rm 0.038969167
E ratio 0.2509999964
Re 0.05375

3 months of old + 9 0.0492366276

Cash Flow NPV Total NPV


39674552.7423709 58238865.30
Property value (today)
107432883.556059
New Loan
Ro 0.0514
m 0.486850002
Rm 0.048969167
E ratio 0.513149998
Re 0.05375
Property Date City Type
The Coast Twins June-05 The Hague Office/Retail

Stabilized Annual Income 2017


Occupanacy % 90
Potential Gross Income (PGI)
Less: Vacancy and Collection losses (VC)
Miscellaneous Income
Effective Gross Income (EGI) 1620000
Less: Operating Expenses (OE) 486000
Fixed Expenses
Real estate Taxes
Insurance

Variable expenses
Utilities
Garbage Collection
Supplies
Repairs
Maintance
Managment
Total Operating Cost 486000
Less: Reserves for leasing and capital exp
Roof and other exterior expenditures
Tenant improvments
Leasing Commissions
Total reserves for capital expenditures 0
Net operating income (NOI) 1134000

DCF
1
Notes
Debt Equity Total Value LTC% Total Size Price per m2
15044180 3999086 19043266 79 12000 1597

Stabilized Annual Income 2018 Stabilized Annual Income 2019

2 3
Stabilized Annual Income 2020 Stabilized Annual Income 2021 Stabilized Annual Income 202

4 5
Stabilized Annual Income 2022 Stabilized Annual Income 2023 Stabilized Annual Income 2024

6 7
Annual Income 2024 Stabilized Annual Income 2025

8 9
Property Date City Type
The Lion 9-Jun Brussels Office

Stabilized Annual Income 2013

Potential Gross Income (PGI)


Less: Vacancy and Collection losses (VC)
Effective Gross Income (EGI)
Less: Operating Expenses (OE)
Fixed Expenses
Real estate Taxes
Insurance

Variable expenses
Utilities
Garbage Collection
Supplies
Repairs
Maintance
Managment
Total Operating Cost
Less: Reserves for leasing and capital exp
Roof and other exterior expenditures
Tenant improvments
Leasing Commissions
Total reserves for capital expenditures
Net operating income (NOI)
Debt Equity Total Value LTC% Total Size Price per m2
24042857.00 16028571.00 40071428.00 60 17000.00 2357.00

Stabilized Annual Income 2014 Stabilized Annual Income 2015 Stabilized Annual Inco
Stabilized Annual Income 2016
Property Date City Type Debt
Building 10 12-Jun Amsterdam Office ###

Stabilized Annual Income 2013 Stabilized Annual Income

Potential Gross Income (PGI)


Less: Vacancy and Collection losses (VC)
Effective Gross Income (EGI)
Less: Operating Expenses (OE)
Fixed Expenses
Real estate Taxes
Insurance

Variable expenses
Utilities
Garbage Collection
Supplies
Repairs
Maintance
Managment
Total Operating Cost
Less: Reserves for leasing and capital exp
Roof and other exterior expenditures
Tenant improvments
Leasing Commissions
Total reserves for capital expenditures
Net operating income (NOI)
Equity Total Value LTC% Total Size Price per m2
### ### 74.9 22000.00 4039.00

Stabilized Annual Income 2014 Stabilized Annual Income 2015 Stabilized Annual Income 2016
Annual Income 2016

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