Since 2003, Kristensen Properties has been in charge of Fund & Asset Management of a large number of privately owned companies which have invested in German real estate. Currently more than 60 companies own a portfolio of approximately 100 German retail properties - high street properties, supermarkets, etc. - with more than 450 tenants in the portfolio. The properties represent a value of approximately EUR 540m.

Since 2005, Kristensen Properties has been in charge of Fund & Asset Management on behalf of an investment fund, Kristensen Partners I. The fund is primarily owned by three Danish pension funds. The real estate portfolio consists of 25 regionally located German office buildings. The portfolio has a book value of approximately EUR 215m. The Asset Management activities are mainly carried out by Kristensen Properties' organisation in Regensburg.

Since 2006, Kristensen Properties has been engaged as the Fund & Asset Manager on behalf of Kristensen Partners IV A/S. The fund owns, through its subsidiary Kristensen Germany AG, 8,400 residential units primarily located in Berlin, Braunschweig, Dresden, Leipzig and Erfurt. The book value of the portfolio is approximately EUR 417m. Kristensen Germany AG has issued bonds, which are listed on the Copenhagen Stock Exchange.

Since 2007, Kristensen Properties has been responsible for the Fund & Asset Management on behalf of the investment fund, Kristensen Partners III. The fund is owned by more than 200 private investors. The real estate property portfolio consists of 13 regionally located German retail properties and the portfolio is continuously expanded towards a total volume of EUR 100m. The Asset Management activities are carried out by Kristensen Properties' organisations in Berlin and Bremen.

Since 2008, Kristensen Properties has been in charge of the Fund Management for approxi-mately 60 privately owned companies with a total of 90 properties located in Denmark, Finland and the UK with a book value of approximately EUR 270m. The Asset Management of properties
in the UK has been outsourced to property manager GVA Grimley.

In 2008, Kristensen Properties was appointed Fund & Asset Manager for an international bank-owned company which owns 2,000 residential units and 150 commercial leases in Berlin. The book value of the portfolio is approximately EUR 126m. Kristensen Properties has drawn up detailed business plans for the portfolio. Kristensen Properties' task is to optimise the operation of the properties prior to a sale.

In 2008, Kristensen Properties was appointed Asset Manager for a primarily Danish-owned company with a property portfolio consisting of 2,250 apartments and 268 commercial tenancies - mainly in Berlin. The book value of the portfolio is approximately EUR 175m. Kristensen Properties has drawn up business plans for the entire portfolio. Kristensen Properties' task is to optimise the operation of the properties prior to a sale.

In 2009, Kristensen Properties was appointed Asset Manager for a real estate portfolio - mainly consisting of residential units in Berlin - belonging to a group of private investors. The portfolio is worth EUR 20m. Kristensen Properties has drawn up individual business plans for each property - the aim is to optimise the portfolio prior to a sale.

In 2009, Kristensen Properties was - at the initiative of a number of Danish banks - appointed Fund & Asset Manager of a Danish-owned residential portfolio in Berlin, Leipzig and Dresden - with a total value of EUR 54m. In addition, properties in Copenhagen are included in the portfolio.

At the initiative of an international bank, Kristensen Properties was in 2009 appointed Asset Manager of a portfolio of German residential units and commercial properties previously belonging to a UK-based investor. The portfolio consists of residential units in Magdeburg, Berlin, Halle and Erfurt. The portfolio represents a value of EUR 64m.

At the initiative of a Danish fund, Kristensen Properties was in 2010 appointed Asset Manager of four shopping centres in the south of Germany. The portfolio has a value of EUR 34m.

At the initiative of a Danish bank, Kristensen Properties was - in July 2010 - appointed Asset Manager of a holiday centre in the north-western part of Germany. The holiday centre presently consists of 40 holiday homes and apartments. After completion of the property development phase, the centre will comprise more than 100 holiday homes and apartments representing an aggregate sales value of EUR 18m.