Document · NE-INV-001
Investment mandate
The investment mandate is a formal document approved by the board of directors and presented to investors for each SPV company. It defines the framework within which the manager may act and from which no departure is permitted without a documented decision-making process.
Section 01
Key elements of the mandate
- Asset classes
- Income-producing commercial properties—office, retail, and commercially focused mixed-use—in central locations. No property development, no financial real estate derivatives.
- Geography
- Greater Copenhagen, with a focus on the Municipality of Copenhagen and established commercial districts with documented demand stability.
- Asset size
- Determined for each SPV based on the specific property and capital structure. The company does not define a fixed transaction size.
- Leverage
- Conservative leverage at the SPV level, with fixed or long-term financing from established Danish mortgage credit institutions.
- Liquidity
- The SPV maintains an operating liquidity reserve in accordance with the company's liquidity policy.
Section 02
What the company does not do
The mandate explicitly excludes several types of activities:
- Speculative property development without an existing operating basis.
- Financial real estate derivatives and structured products.
- Active short-term trading or "flipping" strategies.
- Cross-collateralization between unrelated SPVs.
- Incurring obligations on behalf of investors beyond the relevant SPV.
Mandate discipline
Any deviation from the mandate requires a documented board resolution and, where relevant, approval from the investors in the SPV concerned.
