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1 / 20. januar 2015
Property Asset Management
The path to a higher and more stable return on property investments.
2 / 20. januar 2015
A CUSTOMER-ORIENTED SERVICE COMPANY
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
DEAS Property Asset Management Introduction
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DEAS' track record
DEAS' 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
DEAS Property Asset Management Introduction
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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
DEAS Property Asset Management Introduction
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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 structure
FAIF-approved
Investor
Finance Accounts
DEAS Property Asset Management Services
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• 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
DEAS Property Asset Management Services
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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
DEAS Property Asset Management Services
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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
DEAS Property Asset Management Services
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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
DEAS Property Asset Management Organisation chart
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DEAS Property Asset Management Organisation chart
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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.
DEAS Property Asset Management Ask our customers - it's the results that count
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DEAS Property Asset Management Contact details
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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 : [email protected]
DEAS Property Asset Management A/S (Company reg.no. CVR xx xx xx xx)
Dirch Passers Allé 76
DK-2000 Frederiksberg
