© Cenda Inv est AG 2010

Cenda Invest AG

Company Presentation Asset Management

Increase in value of real estate investments

© Cenda Inv est AG 2010

Cenda Invest AG

� Founded in 1975 and based in Berlin

� Registered capital 6.27M EUR

� Core business: Development, Asset Management andReal Estate Investment

� experiencedsince 35 years as a dependable business partner in the real estate market

� reliable and agilepromptness, creativity and high degree of flexibility

� convincingknow -how in all parts of real estate business

Head office Berlin - Pohlstrasse

� networkedoff-market-realisation of requested existing propertiesand projects in Berlin

The whole company profile

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© Cenda Inv est AG 2010

Cenda Invest AG Exper ienced managementwi th renowned Superv isory Board

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Supervisory Board Dr. Karl Kauermann

Chairman

Chief Executive Officer ofK.M.T. Potsdamer Treuhand AG

Werner GegenbauerVice Chairman

Chairman of the Board ofGegenbauer Holding SA & Co. KG

Michael A. GerlichMember

Managing Director ofRockpoint Deutschland GmbH

Matthias KlussmannChief Executive Officer (CEO)

Marc EschholzMember of the Board (CFO)

Eva Weiß Authorised Officer Director of Sales Department and Commercial Project Management

Ulrich AuerAuthorised Officer Director of Asset Management (Residential)

Uwe Richter Assistant Manager Vice Director of Asset Management (Commercial)

© Cenda Inv est AG 2010

Cenda Invest AGThe Asset-Management-Team

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Ulrich Auer

Authoried Officer andDirector of Asset Management (Residential)

Uwe Richter

Assistant Manager andVice Director of Asset Management (Commercial)

Dipl.-Ing. (FH)

Silv ia Roethig

Asset Manager

Babett Höntsch

Asset Manager

Dipl.-Kffr. (FH)

Ina Rechenberger

Asset Manager

Dipl.-Betriebswirtin (BA)

Viktoria Hoffmann

Asset Manager

Dipl.-Ing./Dipl.-Kffr. (FH)

Timo Seidel

Asset Manager

Tobias BenAabel-Braun

Asset Manager(from June 2010)

Swen Rehwald

Asset Manager

© Cenda Inv est AG 2010

Cenda Invest AG The Asset-Management-Performance andthe volume as an overview

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Asset-Management-Performance:

The strategy of Cenda Invest AG is aimed at property assets inrelation to the substance quality and location for an optimal use andprofitability. However a shortsighted market development is not in theforeground but a lasting creation of value, which is achievedsynergistically and systematically though the bundling of corecompetences from the development and asset managementdivisions.

Our target is a long-term increase in performance of real estate thatwe have cared for. Our method is systematic planning, regulationand controlling of the real estate inventory. With help of this processchain w e are able to come to precise and reliable estimates of thefuture value development and the success potential of our realties.

On this basis w e will compile a time and action plan for theimprovement of structures and processes, to revitalize or modernizereal estate or go as far as a disposition or regrouping of it.

Actual assets under management:

Portfolios and propertieswith a volume of approx. € 850 M.

Thereof:

approx. 13.000 residential units

approx. 40.000 sq m commercial areas

approx. 530 single properties

in Berlin and whole Germany

© Cenda Inv est AG 2010

Cenda Invest AGThe Asset-Management-Performance in detail

Development of investment -and portfolio strategies

Location-, market- and propertyanalyses

Realization of due diligenceprocesses

Purchase transaction support

Real Estate Management: - Set up and controlling of budgets- Identification of all possibilities toincrease income and to optimize theNOI

- Management and controlling ofproperty managers, letting agents, architects, engineers, tax advisors

- Expected-/actual-analyses- Conztrolling and individual reportings

Supervision and construction managementfor refurbishments, tenant rebuildingsetc.

Management of SPV‘s (corporate-administration)

Development of exit strategies

Management of salesagentsand marketing

Realization of Vendor-Due Diligence processes

Sales transaction support

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Purchase-phase Holding-period-phase Exit-phase

© Cenda Inv est AG 2010

Cenda Invest AGOwn Asset-Management-Software “Tecam“

Cenda has realized an own asset management application in cooperation with a softw are developing company. This software is able towork up data`s from IT-systems of different property managers and to generate these numbers in individual monthly or quarterlyreportings added with manual made text blocks.

Phase 1

• INPUT: Data import of area-, tenancy-, receiveables-and P & L numbersresp. schedules in xls.- / csv.- form.

Phase 2

• Work up : Edit, customize of data`sand saving in thedata warehouse (Access, SQL) by the „Tecam“ -application.

Phase 3

• Output: Individual reporting, concerning theexpectationsof the owner by the standard software„Chrystal Reports“.

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© Cenda Inv est AG 2010

Cenda Invest AGPerformance and success due to structured action

by structuring and team-generation

by target valuesdefined with the business plan

by the controlling of the targetswithstandard process methods

by transparent reportingsand benchmarking

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© Cenda Inv est AG 2010

Cenda Invest AGReferences Asset Management

� IPI International Property InvestmentAsset Management of approx. 1.700 residential and commercial units (50 singleproperties) in Berlin

� ABG Sundal CollierAsset Management of approx. 9.200 residential units - in w hole Germany

� Cenda/RockpointDevelopment and Asset Management of two properties of the Joint Venture withthe Rockpoint Group, approx. 30.000 sq m office space in Berlin

� Residential and commercial properties (portfolios) until the Exit for:

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� ML Real Invest/Solid InvestAsset Management of middle-sized commercial properties, approx. 10.000 sq m

© Cenda Inv est AG 2010

Cenda Invest AG

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Cenda Invest AG Pohlstrasse 20D – 10785 Berlin-Mitte

phone +49 (0)30 – 25 444-0fax +49 (0)30 – 25 444-460 e-mail Cenda@cenda.de

www.cenda.de

Board of DirectorsDipl.-Ing. Matthias Klussmann CEO)

Dipl.-Kfm. Marc Eschholz (CFO)

Supervisory Board Dr. Karl Kauermann (Chairman)

District Court Berlin-Charlottenburg

HRB 70426 ID-Nr. DE 196169811 Tax-Nr. 29/466/00455

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