21 21 21 21 211 211 211 211 212 212 212 212 215 Nordic Investment MarketView, 215 The Nordics experience a confident start of the year 2-4 3 Chart 1: Investment volume Europe and Nordics 21 215, ( mn) 9 Nordics Europe Total Nordics share 8 7 6 5 4 3 2 1 2 2% 1 1% % Segment 15 billion Office 2.5 Retail 1.7 Industrial.46 Residential.69.63 TOTAL 5.9 Change on 14 NORDICS VS. EUROPE CBRE Research 215, CBRE Ltd 1
21 211 212 215 21 21 211 211 212 212 215 CONFIDENT START OF THE YEAR Chart 2: Nordics investment volume 21-215 HIGH ACTIVITY IN THE RETAIL SEGMENT 12 1 8 6 4 2 Denmark Finland Norway Sweden Chart 3: Nordic vs. Europe Total segment share of total, 215 Nordics Europe Total INCREASED INTEREST FROM INTERNATIONAL CAPITAL SOURCES 2% 1% % Office Retail Industrial / logistics Chart 4: Nordic Prime Yields index, 21-215 CONTINUED PRESSURE ON PRIME YIELDS 215 CBRE Research 215 CBRE, Ltd 2
Prime Yields and Rents per market and segment Prime Yields Office - 14 Retail High Street - 14 Industrial/ Logistics Copenhagen, DEN 4.75 3.75 6.75 Helsinki, FIN 4.4 4.5 6.5 Oslo, NOR 4.5 4.5 5.75 Stockholm, SWE 4.25 4.25 5.75-14 Prime Rents (Local currency) Office - 14 Retail - High Street - 14 Industrial/ Logistics Copenhagen, DEN (DKK) 1,65 15, 425 Helsinki, FIN (Euro) 48 1,75 138 Oslo, NOR (NOK) 4,25 16, 1,2 Stockholm, SWE (SEK) 4,7 14, 9-14 ECONOMIC MACRO DATA AND OUTLOOK Chart 5: Nordics GDP growth (%) 8, Denmark Eurozone Finland Norway Sweden 6, 4, 2, (2,) 21 211 212 215 F216 F217 F218 F Source: Oxford Economics, CBRE Research, 215. 215 CBRE Research 215 CBRE, Ltd 3
21 211 212 215 DENMARK Chart 6: Investment volume Denmark ( mn) 2 5 2 1 5 1 5 215 Chart 7: Segment share of total, 215 22% Office Retail 12% 2% 1 52% Industrial/logistic Residential DEALS Chart 8: Copenhagen Prime Yields Source: Press-release March 215 215 CBRE Research 215 CBRE, Ltd 4
21 211 212 215 FINLAND Chart 9: Investment volume Finland ( mn) 2 1 5 1 5 215 Chart 1: Segment share of total, 215 32% 31% Office Retail DEALS Industrial/logistic Residential 2 Source: CBRE s press release March 3 rd 215 Chart 11: Helsinki Prime Yields Source: Ilmarinen s press release April 1 st 215 Source: Nordic Property News March 17th 215 215 CBRE Research 215 CBRE, Ltd 5
21 211 212 215 NORWAY Chart 12: Investment volume Norway ( mn) 2 5 2 1 5 1 5 215 Chart 13: Segment share of total 215 2 Office Retail Industrial/logistic Residential DEALS Source: Atrium CBRE internal Chart 14: Oslo Prime Yields 215 CBRE Research 215 CBRE, Ltd 6
29 21 211 212 SWEDEN Chart 15: Investment volume Sweden ( mn) 7 6 5 4 3 2 1 215 Chart 16: Segment share of total, DEALS 1 22% Office Retail 1 Industrial/logistic Residential 1% 3 Source: Fastighetsvärlden March 31 st 215 Source: TIIA Henderson March 6 th 215 Chart 17: Stockholm Prime Yields Source: Balder February 5 th 215 215 CBRE Research 215 CBRE, Ltd 7
Major investment deals during 215 Market Property / Address Type / Sector Price ( m) Purchaser Denmark Portfolio Office 161 Pension Fund Denmark Portfolio Mixed-Use 134 Deas Invest I Denmark Tietgensgade 37 Office 124 Danica Properties, Blackrock Denmark Køge Station - Kulturtorvet Retail 75 Citycon Finland EY-Headquarters, Helsinki Office 93.3 Union Investment Finland 5 rental apartments Residential N/A Asuntosalkku Suomi Oy Finland Grocery store portfolio Retail 25. Sirius Capital Partners Finland Retail portfolio, 5 properties Retail N/A Redito Norway Sognsveien 75 A Retail 13.3 Oslo Pension Fund Norway SEF Portfolio Office 438.4 Partners Group Norway Entra Portfolio Office 163 Hemfosa Fastigheter Norway Helsfyr Panorama Office 47-59 Bryn Eiendom Sweden Skärholmen Centrum Retail - SC 375 Grosvenor Fund Management Sweden Nova Lund Retail - SC 175 TIAA Henderson Real Estate Sweden Gamlestadens Fabriker Office 8 Platzer Sweden Courtyard by Marriott Hotel 72 Balder THE DEAL OF THE QUARTER SUMMARY Skärholmen Centrum (SKHLM) ² 215 CBRE Research 215, CBRE Ltd 8
CONTACTS CBRE OFFICES CBRE Sweden CBRE Atrium Norway CBRE Finland CBRE Denmark For expert advice, please contact CBRE s in-country Heads of Capital Markets: CBRE Sweden CBRE Atrium Norway CBRE Finland CBRE Denmark The Nordics The Nordic countries consist of Denmark, Greenland, the Faroe Islands, Finland, Åland, Iceland, Norway and Sweden. The Faroe Islands and Greenland are both part of the kingdom of Denmark. Åland is part of the republic of Finland. The focus of this report is on the four main countries in the Region; Denmark, Finland, Norway and Sweden and their capitals; Copenhagen, Helsinki, Oslo and Stockholm. Disclaimer: Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE.